Automated Guided Vehicle (AGV) Market: Global Industry Analysis and Forecast (2023-2029) Trends, Statistics, Dynamics, Segmentation by Type, Navigation Technology, Industry and Region.

Automated Guided Vehicle (AGV) Market Overview & Dynamics:

A mobile robot that navigates using a variety of navigation technologies such as long lines or cables on the floor, radio waves, magnets, vision cameras, or lasers is known as an Automated Guided Vehicle (AGV).

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The manufacturing and distribution industries benefit from AGVs in a variety of ways, including cheaper operational costs, increased worker safety, and faster production times. To stay ahead of their competitors, the top players are progressively tapping into developing end-user demands for technologically advanced products. To that goal, they're spending a lot of money on research and development (R&D) and are always looking for new ways to improve their products. A rising number of players are anticipated to benefit from constructing custom-built AGV's in order to obtain a competitive advantage and drives Automated Guided Vehicle (AGV) Market.

Automation in Material Handling Operations is in High Demand across Sectors:

The need for automation is expanding in the automotive, healthcare, e-commerce, and food and beverage industries due to the overall need for high efficiency. Material handling capacity requirements will be met using AGV-enabled automation of industrial facilities, which will save production time, increase safety, ensure high production volumes, and improve accuracy and repeatability. Just-in-time (JIT) supply of raw materials, computerised control of received assembled parts, and tracking of delivered items are all possible with AGVs.

AGV's sales Outlook Will be driven by the Demand for Increased Accuracy and Productivity:

When dealing with high product volumes in warehouses, key players in the automated guided vehicle (AGV) market emphasize safety to avoid collisions and reduce operational mishaps. These vehicles are equipped with sensors, cameras, and lasers that allow them to manoeuvre safely around people and shelves, minimising downtime and costs. Aside from safety, autonomous guided vehicles can operate under extreme climatic circumstances, such as excessive heat or cold, or in the presence of dangerous materials. Manufacturers can boost profitability in numerous processes with the help of AGVs, generating a tailwind for automated guided vehicle sales during the assessment period.

Trends in Automated Guided Vehicle (AGV) Market:

• 3D Imaging Camera for Navigation: Innovations and advances in the camera business have made 3D imaging cameras more accessible. Because of its superior 3D imaging capabilities, this camera is gaining appeal in a wide range of end-user sectors. As a result, warehouses and factories are utilising AGVs with 3D cameras for imaging and navigation in the warehouse or plant. Advancement in navigation technology is crucial for AGV to perform accurate and efficient operation inside the warehouse; henceforth, boosting the global automated guided vehicle (AGV) Market expansion.

• Big Data Analytics: Analysing the Data Produced by AGVs to Support Work Progress: The volume of data generated by AGVs with automated procedures and many sensors will be remarkable, and this data can be further analysed to derive useful insights to improve the time.

Laser Guidance Segment is expected to grow at the Largest CAGR Of 10.52% during the 2020-2026.

By navigation technology, laser guidance segment of automated guided vehicle (AGV) market was valued US$ XX Bn. in 2020 and is expected to reach at US$ XX Bn. by 2027 at a CAGR of 10.23% over forecast period. The laser target system, which navigates cars using a laser positioning system, is a more accurate, quick, and dependable technology. Generally, the technology has been employed in supply chain management to improve warehouse efficiency. Laser target navigation is utilised in automatic forklift trucks, warehouse management, stocking applications, and Tow Tractors AGVs, among other verticals.

Automotive segment is expected to witness significant growth throughout the forecast period.

Based on Industry, automotive segment held the largest automated guided vehicle (AGV) market share of XX% in 2020 and is expected to grow at the highest CAGR of 9.45% to reach US$ XX Bn. by 2027. The use of AGVs in the automotive industry is being driven by key factors like the increasing after-sales spare parts market, growing levels of vehicle customization, and the need to ensure the availability of diverse parts essential in vehicle assembly. COVID-19's economic impacts are expected to have an impact on the automobile industry, which will affect the growth of the global AGV market in 2020.

Asia-Pacific is expected to Hold Significant Share 0f 34% by 2027:

Asia-Pacific Automated Guided Vehicle (AGV) Market was valued US$ XX Bn. in 2020 and is expected to reach a value of US$ XX Bn. by 2027, with a CAGR of 9.05% during the forecast period. Thanks to the highly fragmented industry, there is a wide range of economical automation services available, and increased output in the automotive sector is driving up demand for AGVs in this region. Because of the growing urbanisation and rising industrial production in this region, transportation takes up the majority of the market share. To close the loop in automation control, vehicle automation, like any other automation, requires good feedback and information about the status of the vehicle. MTS Temposonic sensors are tough and dependable in Off-Highway applications, and MTS sensors are at the forefront of vehicle automation in Asia-Pacific, with over 15 years of field experience across construction, farm, and municipal vehicles. With rising e-commerce demand in growing markets like India, China, and neighbouring nations, e-commerce companies have been deploying AGVs in warehouses in large numbers.

Leading market key players are working to demonstrate the opportunity to Global Automated Guided Vehicle (AGV) Market.

The objective of the report is to present a comprehensive analysis of the Automated Guided Vehicle (AGV) Market to the stakeholders in the industry. The report provides trends that are most dominant in the Automated Guided Vehicle (AGV) Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the  AGV Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the Automated Guided Vehicle (AGV) Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Automated Guided Vehicle (AGV) Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the AGV Market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Automated Guided Vehicle (AGV) Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Automated Guided Vehicle (AGV) Market is aided by legal factors.

Global Automated Guided Vehicle (AGV) Market Scope:

Major Players operating in the Global Automated Guided Vehicle (AGV) Market are:

• Swisslog Holding AG
• Bastian Solutions, Inc.
• Daifuku Co., Ltd.
• Dematic
• JBT
• Seegrid Corporation
• TOYOTA INDUSTRIES CORPORATION
• Hyster-Yale Materials Handling, Inc.
• BALYO
• E&K Automation GmbH
• Kollmorgen
• KMH Fleet Solutions
• ELETTRIC80 S.P.A.
• Fetch Robotics, Inc.
• inVia Robotics, Inc.
• Locus Robotics
• Schaefer Systems International, Inc.
• System Logistics Spa
• Scott
• KION
• KUKA