With CAGR Of 6.9% Automated Guided Vehicles (AGVs) Market Is Projected To Reach USD 2.99 Billion By 2028

Market Overview:
The automated Guided Vehicles (AGVs) Market was estimated at USD 1.87 billion in 2021 and is projected to reach USD 2.99 billion by 2028, growing at a CAGR of 6.9%.

In production facilities, warehouses, and distribution centers, automated guided vehicle (AGV) systems help move and transport items without requiring a permanent transport system or human intervention. Utilize configurable guide routes to get the most out of warehousing, picking, and transportation in the AGV environment. These routes offer a number of benefits, including lower costs for labor, less product damage, increased productivity, and the ability to scale up to support automation processes. Automated Guided Vehicles (AGVs) are becoming increasingly popular with transportation and logistics companies

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Market Dynamics:
Driver:
AGVs diminish work costs from a drawn-out point of view in stockrooms in numerous ways. When an AGV takes the place of a human worker, for instance, a business pays a one-time investment in the equipment rather than a variety of work-related running costs. AGV also makes it possible for businesses in a wide range of sectors to adopt novel technologies that would result in both immediate value and long-term returns. Information-based systems like AGVs, which can assist industries in better managing plant assets and making operational decisions, are needed in response to this trend.

Opportunities:
The Increasing Adoption of Industrial Revolution 4.0
Due to the fact that numerous industries are incorporating digital automation and integration into the industrial process in an effort to cut costs and increase efficiency. Industry 4.0 is the new developing idea as the modern upset pushes assembling, warehousing, and strategic areas to incorporate mechanization into day-to-day exercises. Since linked machines with algorithms collect a lot of data that can help with maintenance, performance, and other issues, and then analyze that data to classify patterns and insights that humans can't understand in such a short time.

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Segmentation Analysis of Automated Guided Vehicles Market:
By Type, Unit Load Carrier is the dominating the segment in Automated Guided Vehicle Market. The unit load carrier segment is expected to show substantial growth over the forecast period. Unit load AGVs are used for transporting pallets, huge containers, and roll handling. Also, it provides the capability to schedule the task efficiently by reducing corridor traffic and product damage. The automated unit load carriers are utilized in the place of fork truck that necessitates an employee to operate.

By Navigation Technology, Laser Guidance is the dominating in the Navigation Technology segment in the Automated Guided Vehicle Market. The need for intelligent and efficient routing is contributing to the increasing acceptance of automated vehicles. Advances in computer vision and related software solutions are enabling AGVs to better analyze the environment in real-time, increasing the demand for AGVs to operate in environments maneuvering critical components through narrow corridors.

End-Use Industry, Logistics, and Warehousing are the dominating in the end-use industry application of Automated Guided Vehicle Market. Companies upgrade their existing facilities and build a new one with the integration of vigorous use of modern automated storage and retrieval systems and other material handling equipment to save labor costs and increase efficiency and productivity.

By Type
• Tow Vehicles
• Unit Load Carriers
• Pallet Trucks
• Assembly Line Vehicles
• Others
By Navigation Technology
• Laser Guidance
• Magnetic Guidance
• Inductive Guidance
• Others
By Application
• Logistics & warehousing
• Assembly
• Packaging
• Raw material handling
• Others
Regional Analysis of Automated Guided Vehicles Market:
Europe dominated the Automated Guided Vehicle Market in 2020 with a total share of over 30%. Europe is likely to remain the dominant regional market during the forecast period. Automation in all sectors has also increased regional market growth. In March 2018, for example, the Germany-based robotics company E and K Automation GmbH launched its ultra-flat autonomous transport robot FAST MOVE to support the development of Industry 4.0 and industrial automation. The majority of European factories are integrated with automated robots and vehicles to increase production and efficiency.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered in Automated Guided Vehicles Market are:
• JBT Corporation
• Kuka AG
• Daifuku Co Ltd
• Kion Group AG
• Omron Adept Technologies INC
• AGVE Group Inc
• Murata Machinery
• 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 KG
• Mecalux
• S.A
• Bastian Solutions Inc.and other major players.

Key Industry Developments In Automated Guided Vehicles Market
March 2021, Toyota Industries amalgamated with All Nippon Airways (ANA) to test autonomous towing tractors at Saga Airport in Japan. The towing tractors are equipped with 2D/3D LiDAR sensors to automatically detect objects in their path and allow the vehicles to adjust course automatically.
February 2021, Daifuku partnered with AFT Industries which is a Germany-based automation and conveyor technology company. This partnership aims for improving material handling systems for the automotive industry. The partnership will focus on opening new networks to meet the global demand for material handling systems for the automotive sector.

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Table Of Content:
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Navigation Technology
 3.3 By Application

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Automated Guided Vehicle Market by Type
 5.1 Automated Guided Vehicle Market Overview Snapshot and Growth Engine
 5.2 Automated Guided Vehicle Market Overview
 5.3 Tow Vehicles
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Tow Vehicles: Grographic Segmentation
 5.4 Unit Load Carriers
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Unit Load Carriers: Grographic Segmentation
 5.5 Pallet Trucks
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Pallet Trucks: Grographic Segmentation
 5.6 Assembly Line Vehicles
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size (2016-2028F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Assembly Line Vehicles: Grographic Segmentation
 5.7 Others
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size (2016-2028F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 Others: Grographic Segmentation

Chapter 6: Automated Guided Vehicle Market by Navigation Technology
To Be Continued….

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