Automated Guided Vehicle Market growth, business opportunities, share value, key insights and size estimation by 2031

Global Automated Guided Vehicle Market  report from Global Insight Services is the single authoritative source of intelligence on Automated Guided Vehicle Market . The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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An automated guided vehicle (AGV) is a material handling system that uses unmanned vehicles guided by markers or wires on the floor, or by vision, lasers, magnets, or other means to move materials, parts, tools, or specialized equipment through manufacturing processes or within warehouses.

Key Trends

The key trends in Automated Guided Vehicle technology are miniaturization, intelligence, and networking.

Miniaturization refers to the trend of making AGVs smaller in size. This is being driven by the need for AGVs to be able to operate in smaller spaces, such as in warehouses and factories.

Intelligence refers to the trend of making AGVs more intelligent so that they can be better at navigating their environment and avoiding obstacles. This is being driven by the need for AGVs to be able to operate in more complex environments.

Networking refers to the trend of making AGVs more connected so that they can communicate with each other and with other systems in the environment. This is being driven by the need for AGVs to be able to operate in more coordinated and efficient ways.

Key Drivers

The key drivers of the Automated Guided Vehicle market are the rising labor costs, the need for increased productivity, and the need for improved safety.

The rising labor costs are one of the key drivers of the Automated Guided Vehicle market.

The increasing wages and the shortage of skilled labor are the major factors driving the labor costs. The need for increased productivity is another key driver of the Automated Guided Vehicle market.

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The need for improved safety is another key driver of the Automated Guided Vehicle market. The Automated Guided Vehicle eliminates the possibility of human error and hence, improves the safety.

Restraints & Challenges

The key restraints and challenges in Automated Guided Vehicle market are:

  1. The high cost of AGVs can be a deterrent for some companies.
  2. AGVs can be difficult to implement and integrate into existing manufacturing processes.
  3. There can be a learning curve for employees when using AGVs for the first time.

Market Segments

The Automated Guided Vehicle Market is segmented by  type, navigation technology, application, mode of operation, and region. By type, the market is classified into tow-vehicles, unit load carriers, pallet trucks, assembly line vehicles, and forklift trucks. By navigation technology, it is divided into laser guidance, magnetic guidance, inductive guidance and others. By application, it is categorized into transportation, distribution, storage and others. On the basis of mode of operation, it is classified into indoor and outdoor. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.

Key Players

The Automated Guided Vehicle Market includes players such as  BALYO, Daifuku Co., Ltd., E&K Automation GmbH, inVia Robotics, Inc., JBT, KUKA AG, Oceaneering International, Inc., Seegrid Corporation, SSI Schaefer and Toyota Material Handling.

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