Significant Growth Foreseen by Automated Guided Vehicle (AGV) Market During 2027

Emerging and low-income economies are expected to increase their healthcare expenditures considerably till the year 2020 and the industry will be well-served by the AGV market. In addition to healthcare, substantial growth in the manufacturing and service sector are a direct result of higher GDP growth and this will have a positive impact on the spending for automated products benefiting the global AGV market. Future Market Insights in its upcoming report titled ‘Automated Guided Vehicle (AGV) Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’ has taken a comprehensive look at the prospects that exist in the AGV market for the ten-year period ending in 2027. The AGV market is expected to record an exponential CAGR of 10.6% for the decade and be valued at more than US$ 2.5 billion by end 2027.

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Region – Developed Countries Hold a Lion’s Share of the AGV Market

Developed nations in Europe and North America have the maximum share in the AGV market because the technology is quite expensive and a number of key players have their base of operation here. Companies are advised to focus their attention on Western Europe as it is gaining on North America and might even outpace it at some point in the near future.

Competition Dashboard

The companies profiled in the AGV market report include JBT Corporation, Kuka AG, Daifuku Co., Kion Group AG, Omron Adept Technologies, AGVE Group, Transbotics Corporation, Oceaneering International Inc., Seegrid Corporation, Murata Machinery, SSI Schaefer, AVT Europe NV, Cassioli Srl, Toyota Industries Corporation, Robotnik, Kollmorgen, E&K Automation GMBH, BEUMER Group GmbH & Co., Mecalux, and Bastian Solutions.

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Key Insights

Major players in the AGV market are recommended to innovate with tougher materials and safety features to increase the adoption rate of AGV vehicles. Urban industries that are blighted with safety related issues in their day-to-day operations are the primary target customers. Although developed countries have the largest share in the AGV market, attempts must be made to raise awareness of this game-changing technology in emerging economies such as China and India.

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