Global Automated Guided Vehicle Market was valued at USD 1.63 Billion in 2017 and is projected to reach USD 2.83 Billion by 2025, growing at a CAGR of 7.87% from 2018 to 2025.
What is an Automated Guided Vehicle?
Automated Guided Vehicles, as the name suggests, are the vehicles which are controlled by the computer without the need of an actual driver onboard. They are used on shop floors for material handling operations and hence they have defined paths and areas within which they can operate. These AGV’s are mounted with various accessories and devices like smart sensors and load protection devices which results in improved efficiency and reduced product damage. Some material handling and pallet handling operations are labor intensive and involve safety hazards, in such cases, Automated Guided Vehicles ensures safer operations.
Global Automated Guided Vehicle Market Outlook
In the report, the market outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Due to the introduction of Industry 4.0 policy industries have realized the significance of an automated and connected factory environment. Reduced labor cost, increased productivity and accuracy, zero human error are few of the reasons why the demand for AGV’s is going to increase in the forecast period. Although, the high initial cost is proving to be one of the major restraining factors these costs translate into High ROI in the long run.
Verified Market Intelligence narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Automated Guided Vehicle Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Global Automated Guided Vehicle Competitive Landscape
The “Global Automated Guided Vehicle Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as SSI Schaefer, Dematic, Vanderlande Industries, Daifuku, National Instruments, Goodwill Instruments, Yokogawa Electric, Rigol Technologies, Toyota Industries Corporation, Bastian Solutions LLC, Egemin Automation Inc., Hyster-Yale Materials Handling Inc., JBT Corporation, E&K Automation GMBH, Swisslog Holding AG, Oceaneering AGV Systems. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Global Automated Guided Vehicle Market, By Type
• Tow Vehicle
• Forklift Truck
• Unit Load Carrier
• Assembly Line Vehicle
• Pallet Truck
Global Automated Guided Vehicle Market, By Navigation Technology
• Magnetic Guidance
• Laser Guidance
• Inductive Guidance
• Optical Tape Guidance
• Vision Guidance
Global Automated Guided Vehicle Market, By Battery Type
Global Automated Guided Vehicle Market, By Vertical
• Industrial Products
• Food Industry
• Building and Construction
Global Automated Guided Vehicle Market, By Application
• Food and Beverages
Global Automated Guided Vehicle Market, Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World
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