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Automated Guided Vehicle Market Expected To Observe Major Growth By 2016–2024
Automated Guided Vehicle Market
The automated guided vehicle is a driverless, self-operated, computer-controlled vehicle. It is integrated with collision avoidance and guidance system that can transfer tools and materials from one place to another, that without no human intervention. These vehicles are long-lasting and are easy to operate. These vehicles are also more reliable than humans, thus making them more popular in the industry.
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Global Automated Guided Vehicle Market: Growth Factors
The global automated guided vehicles market is likely to witness a boost in the industry in the near future. The increased use of advanced technology in the automated guided vehicle is the key reason behind the elevation of the global market. In addition to this, the high reliability of the vehicle is boosting the global automated guided vehicles market. Additionally, low cost for the maintenance is one of the factors towering the growth of the global market. High demand for the vehicles in the industry is also a significant factor that is driving the global automated guided vehicles market.
On the other hand, the high cost of the ownership of these vehicles is the main reason that is hampering the global automated guided vehicles market. Moreover, the lack of job opportunities in the global market due to automation technology is hindering the growth of the global market. Besides this, the growing unawareness among the people about the advantages of these vehicles is a significant reason for restraining the growth of global automated guided vehicles market.
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Global Automated Guided Vehicle Market: Segmentation
Based on types, the global automated guided vehicle market is mainly classified as the tow vehicle, unit load carrier, assembly line vehicle, pallet truck, and others.
On the basis of navigation technology, the global market is segmented into magnetic guidance, aser guidance, optical tape guidance, inductive guidance, and others.
Based on the type of battery, the global automated guided vehicle market is mainly divided as nickel-based, lead, lithium-ion, and others.
On the basis of industry, the global market is bifurcated into manufacturing, automotive, aerospace, food & beverage, logistics, healthcare, retail, and others.
Based on applications, the global automated guided vehicle market is mainly classified as distribution, transportation, assembly, storage, packaging, and others.
Global Automated Guided Vehicle Market: Regional Analysis
The global automated guided vehicle market is geographically segmented into Asia-Pacific, North America, and Rest of the World. The increase in the demand of the vehicles in the states of the U.S. and Canada is boosting the global market in North America. Increased awareness of the advantages of the automated guided vehicle is the main reason for the elevation of the global automated guided vehicle market in countries such as India and China. The rest of the world is likely to show a moderate growth in the global market in the near future.
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Global Automated Guided Vehicle Market: Competitive Players
Key players in the global automated guided vehicle market are Daifuku Co. Ltd., Bastian Solutions LLC, Egemin Automation Inc., Dematic GmbH & Co. KG, Hyster-Yale Materials Handling Inc., EK Automation, Swisslog Holding AG, JBT Corporation, Seegrid Corporation, and Toyota Industrial Equipment.
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