Automated Guided Vehicle Market Valuation of US$2.3 bn by the end of 2024

Automated guided vehicles are driverless, self-operated computer controlled vehicles which are fitted with guidance and collision avoidance system and can move materials from one place to another, without the need for any human intervention.

Reliability, durability and ease in operation of the vehicles are the chief factors on which the quality of these vehicles depends. Automated guided vehicles help to safely transport all kinds of products without any human intervention within distribution, logistics, production and warehouse environments, along with reducing operational costs and increasing profitability and efficiency.

AGVs are capable of lifting, shifting and rotating goods, transporting products across vast distances, storing products in deep lanes and delivering these onto the conveyors.

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Increasing demand for AGVs in material handling and increasing need for accuracy and high productivity is driving the growth of the global automated guided vehicle market. The automated guided vehicles combined with radio frequency technology work in line with the Warehouse Control System and the Warehouse Management System to improve accuracy and efficiency since AGVs have little downtime and operate at a fixed rate to meet a predictable metric for operational activity.

Further, replacement of conventional batteries with lithium ion batteries is positively influencing the growth of the global market. Thus, the conjoint effect of all these drivers is anticipated to steadily bolster the growth of the global automated guided vehicle market in the coming years.

The e-commerce companies are considering automated guided vehicles as one of their key components in their growth and expansion as these AGVs help to reduce their order processing time.

The growing e-commerce industry is thus expected to serve as a prospective area where AGV manufacturers can expand their business. Also when it comes to retail, e-commerce is the fastest growing channel. Therefore, growth of e-commerce and use of AGVs by them is set to create further growth opportunities in the global AGV market.

In addition, rapid industrialization and increasing adoption of innovative and better technologies coupled with the emergence of new players in the developing regions of Asia Pacific, Middle East and Africa and Latin America is expected to offer lucrative opportunities for the growth of the global automated guided vehicle market.

This report on the global automated guided vehicle market highlights the current scenario of the market along with stating the expected growth of the global market during the forecast period.

Various political, social, economic and technological factors which are likely to impact the demand of automated guided vehicle have been analyzed to include an exhaustive study of the global market drivers, restraints and opportunities, i.e. the market dynamics under the purview of the report.

This 130 page report gives readers a comprehensive overview of the Automated Guided Vehicle Market. Browse through 20 data tables and 52 figures to unlock the hidden opportunities in this market:
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Further, the key players operating the automated guided vehicle market have been profile thoroughly and competitively across the five geographic regions and their competitive landscape is inclusive of their recent developments related to automated guided vehicles and the distinguishable business strategies adopted by them.

To further analyze their market positioning, SWOT analysis has been provided for each of the players. In addition, the report includes the market attractiveness analysis of the segmentation, end-use industry for offering a deep insight into the major application area of the automated guided vehicles.

Thus, the global automated guided vehicle market report provides an extensive study of the market along with offering the forecast of the market in terms of revenue (USD Million) from the period of 2016 – 2024.

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