The automated guided vehicle global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automated Guided Vehicle Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automated guided vehicle market size has grown rapidly in recent years. It will grow from $4.59 billion in 2023 to $5.19 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to market competition and demand, sustainability initiatives, increased e-commerce activities, industrial automation, cost efficiency.
The automated guided vehicle market size is expected to see rapid growth in the next few years. It will grow to $8.26 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to global logistics demand, rise in automation, safety enhancement, adaptability and flexibility, regulatory standards. Major trends in the forecast period include autonomous warehousing, integration with industry 4.0, energy efficiency and sustainability, flexibility and adaptability.
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Scope Of Automated Guided Vehicle Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automated Guided Vehicle Market Overview
Market Drivers –
The rising e-commerce and retail industries are expected to propel the automated guided vehicle market. The purchasing and selling of products and services through an electronic network, typically the internet, is known as e-commerce. The e-commerce sector is rising due to changes in consumer preference, increased convenience, and personalized experience. The use of an automated guided vehicle in e-commerce warehouses and retail hubs provides convenience in material handling, good packaging, and managing the supply chain ecosystem. For instance, according to Forbes, an American business magazine, in the US, e-commerce sales reached $870 billion in 2021, up 50.5% from the previous year and 14.2% from 2020. In the US, e-commerce accounted for 13.2% of retail sales in 2021. Furthermore, in June 2022, an article published by Morgan Stanley, US-based investment management and financial services company, states that global e-commerce increased from 15% to 21% of total retail sales from 2019 to 2021, accounting for approximately 22% of total sales. Therefore, the rise in e-commerce and retail will drive the automated guided vehicle market.
Market Trends –
Technological advancement is a key trend gaining popularity in the automated guiding vehicles market. Major players are concentrating on creating innovative technologies such as the Internet of Things (IoT)-based vehicle to sustain their position in the automated guided vehicle market. IoT is about trying things together over the internet to build a network of related physical items. The aim of smart physical objects is allowing them to communicate (send/receive) data independently. For instance, in February 2022, Murata Machinery USA, Inc., a US-based manufacturing company of automated guided vehicles, announced the addition of a broad range of autonomous guided vehicles (AGVs). The A-Series expands on their previous Muratec Premex Series by adding seven common base models that are adjustable for a broad range of load capacities, lift heights, navigation techniques, temperature scores, and software applications. The A-Series conventional forklift, roller, and raise deck vehicles can transfer weights ranging from a few pounds to 65 tons, lift heights of up to 36 feet, and work in harsh temperatures ranging from -10 to 104 degrees Fahrenheit. This series includes all navigation systems and many layers of safety measures, and it complies with ANSI/ITSDF safety and ISO 3691-4 manufacturing requirements, as well as Class 1 for clean production settings.
The automated guided vehicle market covered in this report is segmented –
1) By Type: Two vehicles, Unit load carriers, Pallet trucks, Assembly line vehicles, Forklift trucks
2) By Navigation Technology : Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Natural Navigation
3) By Application: Transportation, Distribution, Storage, Assembly, Packaging, Waste handling
4) By Industry: Automotive, Maufacturing, Food and Beverage, Aerospace, Healthcare, Logistics, Retail
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Regional Insights –
Asia-Pacifc was the largest region in the automated guided vehicle market in 2023. The regions covered in the automated guided vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the automated guided vehicle market report are Balyo, Daifuku Co Ltd., E&K Automation GmbH, JBT Corporation, Kuka AG, Oceaneering International Inc, Seegrid Corporation, Schaefer Systems International Inc., Toyota Material Handling, Swisslog Holding AG, Bastian Solution, Dematic, inVia Robotics Inc., Kollmorgen, Elettric80 S.P.A., Fetch Robotics Inc., Locus Robotics, Krones AG, SMARLOGY AGV and AMR, Wellwit Robotics, ADDVERB, AGVE GROUP, AGILOX, Creform Corporation, KMH Systems Inc., DF Automation and Robotics Sdn. Bhd., DS AUTOMOTION GmbH, Konecranes and Demag Private Limited, KUKA Systems Aerospace Group, Egemin Automation Inc.
1. Executive Summary
2. Automated Guided Vehicle Market Report Structure
3. Automated Guided Vehicle Market Trends And Strategies
4. Automated Guided Vehicle Market – Macro Economic Scenario
5. Automated Guided Vehicle Market Size And Growth
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27. Automated Guided Vehicle Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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