Global Automated Guided Vehicle Market Overview

According to the latest information, in 2019, the global automated guided vehicle market to grow at a significant rate of 7.5% CAGR with a market size of USD 3.39 billion during the forecast period 2022 to 2030.

Automated guided vehicles are load carriers or self-guided material handling systems. These can travel autonomously across various areas like distribution centers, warehouses, or manufacturing facilities installed using the sensors without any onboard operator.  Supply chain management is using automation in the form of automated guided vehicles like forklifts, small rack carrying robots, automated stackers, and pallet trucks. Moreover, to perform various tasks, these vehicles are programmed using the safest alternatives for material handling, machine learning, and deep learning. Apart, these vehicles provide superior benefits like safety inside facilities, precision & productivity raises, reduced product damage, scale to support automation processes, and labor costs lessened. These advantages escalate the transportation and logistics firms to deploy AGVs.

Automation and automated guided vehicles are highly demanded in various industries and safety, accuracy, and productivity are increasing which leads to rising in the growth of the automated guided vehicle market. These vehicles follow configurable guide paths for storage optimization, picking, and transport functions in the premium space environment. These vehicles are used in various end-use industries like healthcare, logistics, manufacturing, automotive, food and beverages, and others. Rising industrialization leads to the continuous need for transport solutions for enhancing efficiency and customized material handling. 

Industrial Automation and Industry 4.0:

The AGV market has been significantly influenced by the ongoing trend of industrial automation and the implementation of Industry 4.0 principles. AGVs play a crucial role in optimizing material handling and logistics processes in smart factories.

Growing E-commerce and Retail Industries:

 The rise of e-commerce and increased demand for fast order fulfillment has driven the adoption of AGVs in warehouses and distribution centers to enhance order picking and inventory management.

Pharmaceutical and Healthcare Applications:

 AGVs are used in pharmaceutical and healthcare facilities to automate the transportation of medication, equipment, and medical supplies, ensuring timely delivery and reducing human intervention.

Automotive and Electronics Manufacturing:

 The automotive and electronics industries extensively use AGVs for material movement, parts delivery, and assembly line operations, optimizing production processes.

Innovative AGV Technologies:

Manufacturers continue to develop innovative AGV technologies, including vision-based navigation, laser-guided navigation, magnetic tape navigation, and simultaneous localization and mapping (SLAM) for improved autonomy and accuracy.

Rapid Market Expansion:

 The AGV market has seen rapid expansion across regions, with increasing adoption in Asia-Pacific, Europe, and North America, driven by the growth of manufacturing and logistics industries.

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Global Automated Guided Vehicle Market Key Players

The key competitors of the automated guided vehicle market are

·       Swisslog Holding AG

·       Dematic

·       Bastian Solutions, Inc

·       Daifuku Co., Ltd.

·       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

Global Automated Guided Vehicle Market Segmentation

Based on the recent updates, the global automated guided vehicle market is analyzed into four segments such as vehicle type, technology, application, and industry.

·       Vehicle Type Segmentation:  The automated guided vehicle market based on vehicle types is classified into TOW Vehicle, unit load carrier, forklift vehicle, pallet trucks, assembly line vehicles, and others.

·       Technology Segmentation: The automated guided vehicle market by technology is categorized into five types as traditional guidance, inductive guidance, laser guidance, natural features guidance, and vision-guided vehicles.

·       Application Segmentation: The automated guided vehicle market applications are transportation, distribution, assembly, roll handling, and others.

·       Industry Segmentation: By industry, the automated guided vehicle market is analyzed into various forms like electrical & electronics, automotive, pharmaceutical, logistics & distribution, plastics & polymers, food & beverage, and others.

Industry News

As per the latest updates, the automated guided vehicle market forecast states that the vehicle market is going to reach immense growth due to the introduction of new product development, mergers, and acquisitions. The innovation by Seegrid is named GT10 Series 7Plus Vision Guided Vehicle which is featured with a shorter mast structure for accommodating height-restricted facilities and is mounted by more beneficial features.

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