The Deployment of the Automated Guided Vehicles for Effective Transportation and Logistics to Boost the Automated Guided Vehicle Market Growth


Automated Guided Vehicle Market
 Automated Guided Vehicle Market 

Global Automated Guided Vehicle Market Report, By Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles, Pallet Trucks, and Others), By Navigation Technology (Laser Guidance, Magnetic Guidance, Inductive Guidance, Optical Tape Guidance, Vision Guidance, and Others), By Industry (Automotive, Metals & Heavy Machinery, Food & Beverages, Chemicals, Healthcare, Semiconductors & Electronics, Aviation, E-commerce, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

The global Automated Guided Vehicle Market is estimated to be valued at US$ XX million in XXX and is expected to exhibit a CAGR of XX% over the forecast period, as highlighted in a new report published by Coherent Market Insights. An Automated Guided Vehicle system is also called autonomous guided vehicle or an automatic guided cart. It is a system which uses a preordained path over a service. An Automated Guided Vehicle is a mechanical automotive which transports a cargo either by packaging assemblage, industrial or warehousing services.

The global Automated Guided Vehicle Market was valued at US$ 5.1 Bn in 2019 and is expected to reach US$ 21.3 Bn by 2027 at a CAGR of 12.1% between 2020 and 2027.

Competitive Landscape:

Key players involved in the global automated guided vehicle market are Seegrid Corporation, Murata Machinery, Ltd., Oceaneering International, Inc., E&K AUTOMATION LIMITED, JBT, KION GROUP AG, KUKA AG, Schaefer Systems International Pvt Ltd., TOYOTA INDUSTRIES CORPORATION, Swisslog Holding AG, inVia Robotics, Inc., Crown Equipment Corporation, Hyster-Yale Materials Handling, Inc., KNAPP AG, Dematic, Bastian Solutions, Inc., Daifuku Co., Ltd., Fetch Robotics, Inc., and Meidensha Corporation

Market Key Drivers:

The deployment of the automated guided vehicles for effective transportation and logistics is expected to augment the growth of global market. For instance, in May 2021, AUDI AG declared that they employ automated guided vehicles in their production centers which aids them indirectly make the manufacturing procedure to know which compounds is out of stock and is required to be accessible.

Increasing partnerships and collaborations are projected to boost the growth of the global market. For instance, in November 2021, OTSAW Digital Pte Ltd, collaborates with Swisslog Healthcare to innovate AGVs for the hospital segment to empower better care of the patient.

Covid-19 Impact Analysis:

The Covid-19 outbreak had adversely affected the growth of global market owing to the strict regulations and rules imposed by the regulatory. The halt in supply of raw materials due to restriction on transportation and closure of manufacturing and production units impeded the market growth.

Key Takeaways:

The global market is anticipated to exhibit a CAGR of XX % during the forecast period owing to rising adoptions, product launches and initiations. For instance, in April 2021, Toyota Industries Corporation introduced a global AV software organization, T-Hive, to include solutions to all the automotive manufactured with Toyota Industries Corporation.

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in global market due to rising demand for material handling equipment, increasing e-commerce industry and increasing collaborations and partnerships. For instance, in January 2022, PUMA SE declared that it would fix more automated robots with a grouping of AI, cameras, and grippers.

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