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Automated Guided Vehicle (AGV) Market size is projected to reach at USD 6.59 Bn by 2030

02-12-2024 03:06 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: SNS Insider Pvt Ltd

Automated Guided Vehicle (AGV) Market

Automated Guided Vehicle (AGV) Market

Automated Guided Vehicle (AGV) Market size is projected to reach at USD 6.59 Bn by 2030, The market is experiencing a remarkable expansion, propelled by the relentless integration of automation and robotics across various industries.
According to SNS Insider, AGVs incorporate cutting-edge features like LiDAR, RFID, and vision systems, bringing about a trans formative impact on material handling procedures within manufacturing, logistics, and warehouse settings. The international AGV market is on track for continual expansion, driven by the realization among businesses of the substantial capabilities of these smart vehicles in improving efficiency, adaptability, and overall optimization of supply chain operations.

Market Size
Automated Guided Vehicle (AGV) Market size was valued at USD 3.32 billion in 2022 and is expected to reach USD 6.59 billion by 2030 and grow at a CAGR of 8.95% over the forecast period 2023-2030.

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Market Scope:
The expansion of the market is driven by the demand for improved operational effectiveness, lowered expenses, and heightened safety within industrial environments. Various sectors, including automotive, online commerce, and healthcare, are progressively integrating Automated Guided Vehicles (AGVs) to optimize their internal logistics processes, resulting in enhanced efficiency and decreased reliance on human involvement. As AGV technology advances, the market's reach broadens beyond conventional industries, presenting prospects in evolving domains such as intelligent manufacturing facilities and Industry 4.0 endeavors.

Market Key Players:
-Swisslog Holding AG
-Egemin Automation Inc.
-Daifuku Co.Ltd.
-Seegrid Corporation
-Bastian Solutions
-Hyster-Yale Materials Handling Inc.
-E&K Automation GmbH
-KMH Fleet Solutions
-Fetch Robotics Inc. Inc.
-Locus Robotics
-inVia Robotics
-Schaefer Systems International Inc.
-System Logistics Spa and Transbotics.

Opportunity Analysis:
The market for Automated Guided Vehicles (AGVs) offers a promising field for analysing opportunities, with global industries actively searching for inventive approaches to improve efficiency and productivity in the handling and movement of materials. The incorporation of cutting-edge technologies like AI, machine learning, and sensor systems into AGVs creates possibilities for exceptional levels of automation and optimization. The growing e-commerce industry, along with the rising requirement for timely manufacturing, drives the adoption of AGVs in warehouses and manufacturing plants.

Segmentation Analysis:
The segment related to helmets, when mounted, emerges as a notable example of inventive and effective solutions. The incorporation of helmet-based technologies within AGVs signifies a transformative change, bringing together state-of-the-art progress with pragmatic applications in industrial settings. These headgear units function as versatile control hubs, featuring advanced sensors, cameras, and interfaces for augmented reality.

By Type:
Tow Vehicles
Assembly Line Vehicles
Pallet Trucks
Unit Load Carriers
Forklift Vehicles

By Navigation Technology:
Laser Guidance
Inductive Guidance
Magnetic Guidance
Vision Guidance
Optical Tape Guidance

By Industry:
Food & Beverages
Metals & Heavy Machinery
Semiconductors & Electronics

Regional Analysis
The APAC region is becoming a hub for creativity and expansion. Recognized for its growing industrial sector and a continuous drive for technological progress, APAC offers a distinctive array of possibilities for deploying Automated Guided Vehicles (AGVs). Noteworthy nations like China, Japan, and South Korea take the lead with their resilient manufacturing systems and a significant focus on incorporating automation. The AGV sector in APAC is experiencing notable growth influenced by factors such as rising labour expenses, the imperative for operational effectiveness, and the unwavering pursuit of accuracy in logistics and material management.

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Key Takeaways
The increasing focus on ensuring the well-being of employees in work environments and minimizing the reliance on manual labour enhances the market's prospects. As Automated Guided Vehicles (AGVs) progress to enhance their versatility, adaptability, and ability to cooperate with other intelligent systems, the market is positioned for notable expansion.
Businesses that allocate resources to advance state-of-the-art AGV technologies, cater to individualized needs, and facilitate smooth integration with current infrastructure are expected to tap into the complete range of possibilities in this dynamic market.

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Recent Industry Developments:
Clearpath Roboticsrecently revealed the latest iteration of Automated Guided Vehicles (AGVs), featuring state-of-the-art navigation and obstacle avoidance capabilities. These advancements aim to optimize efficiency and safety in the realm of material handling operations.
Daifuku Co., Ltd, recognized globally for its expertise in material handling and logistics solutions, has developed cutting-edge AGV technology. This technology incorporates advanced sensors and artificial intelligence algorithms, elevating navigation precision and adaptability in dynamic environments.

Table of Contents
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2.Research Methodology
3.Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4.Impact Analysis
5.Value Chain Analysis
6.Porter's 5 forces model
7.PEST Analysis
8.Global Automated Guided Vehicle (AGV) Market Segmentation, by Type
9.Global Automated Guided Vehicle (AGV) Market Segmentation, by Navigation technology
10.Global Automated Guided Vehicle (AGV) Market Segmentation, by Industry
11.Regional Analysis
12.Company Profiles
13.Competitive Landscape

Contact Us:
Akash Anand - Head of Business Development Strategy
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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