Automated Guided Vehicles (AGV) Market Surpass $7.4 Billion By 2026 | CAGR 16.7%

Author: Acumen Research and Consulting

Acumen Research and Consulting delivers key insights on the automated guided vehicles (AGV) market in its published report, titled “Automated Guided Vehicles (AGV) Market (By Type: Tow Vehicle, Unit Load Carrier, Pallet Truck, Forklift Truck, Hybrid Vehicles, Others; By Navigation Technology: Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Natural Navigation, Others; By Application: Logistics and Warehousing [Transportation, Distribution, Cold Storage, Wholesale & Distribution, Cross-docking], Assembly, Packaging, Trailer Loading and Unloading, Raw Material Handling, Others; By End-Use Industry: Manufacturing Sector, Automotive, Aerospace, Electronics, Chemical, Pharmaceuticals, Plastics, Defense, FMCG, Tissue, Others; Wholesale and Distribution Sector [E-commerce, Retail Chains/Conveyance Stores, Grocery Stores, Hotels and Restaurants]) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026". The global Automated Guided Vehicles (AGV) market size is estimated to reach around USD 7.4 billion by 2026, this market is anticipated to grow with 16.7% CAGR during the forecast time period.

AGVs can convey various advantages, especially enlarging the proficiency of warehousing tasks and operations and logistics management processes. Conveying them for tedious material handling of errands can likewise enable enterprises to save money on work costs and reassign staff on other fundamental assignments, for example, upgrading consumer loyalty.

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Automated guided vehicles can complete material handling operations dependably and successfully. These vehicles are outfitted with different adornments and gadgets, for example, shrewd sensors and load security gadgets, which can help in enhancing productivity and lessening item harms. AGVs can likewise be customized utilizing programming devices to pursue explicit ways and attempt explicit assignments and in addition track development of products in material dealing with and supply chain operations.

Assignments, for example, pallet handling, material handling, and completed item taking care of will in general include well being concerns. Some pallet handling operation sand material handling, especially those expecting specialists to deal with substantial and cumbersome merchandise, are regularly work serious and include security dangers. Conveying robotized guided vehicles on such undertakings can help in maintaining a strategic distance from any potential disasters or mishaps and guaranteeing more secure tasks.

Though high introductory expenses can be a noteworthy worry for those thinking about sending of automated guided vehicles, these high beginning expenses can convert into high return on investment (ROI)in the long haul. For example, sending five AGVs in three movements can prompt potential funds worth USD 1.56 million amid five years of activity. Besides, the ROI can be acknowledged inside an unimportant 16 months.

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The global Automated Guided Vehicles (AGV)market is segmented into type, navigation, end-user, application, and region.On the basis of type, the global Automated Guided Vehicles (AGV) market is segmented into tow vehicle, unit load carrier, pallet truck, forklift truck, hybrid vehicles, and others.On the basis of navigation, the global Automated Guided Vehicles (AGV) market is segmented into laser guidance, magnetic guidance, vision guidance, inductive guidance, natural navigation, and others. On the basis ofapplication, the global Automated Guided Vehicles (AGV)market is segmented into logistics and warehousing, assembly, packaging, trailer loading and unloading, raw material handling, and others. Logistics and Warehousing is bifurcated into transportation, distribution, cold storage, wholesale & distribution, and cross-docking.On the basis of end-user, the global Automated Guided Vehicles (AGV) market is segmented into manufacturing sector and wholesale and distribution sector. Manufacturing sector is bifurcated into Automotive, Aerospace, Electronics, Chemical, Pharmaceuticals, Plastics, Defense, FMCG, Tissue, and Others. Wholesale and distribution sector is also further segmented into E-commerce, Retail Chains/Conveyance Stores, Grocery Stores, and Hotels and Restaurants. On the basis of region the global Automated Guided Vehicles (AGV) market is bifurcated into Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.

Europe captures the worldwide market in 2018 and is anticipated to hold its lead over the forecasted time frame. The market is essentially determined by expanding need for material handling equipment of hardware and fast appropriation of computerization arrangements by officeholders in the manufacturing business.

The e-commerce business industry has been developing impressively in rising economies, for example, China and India. This is provoking a few web based business organizations to think about a raid in these territorial markets. Rivalry in the online business industry is escalating thusly and industry occupants are attempting to separate themselves by decreasing time taken to convey items to end clients. Conveying AGVs in stockrooms can help web based business organizations in computerizing intralogistics errands, for example, arranging and picking, in this manner increasing proficiency.

Market companies are concentrating on implementing new strategies for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. And also, growing R&D investments paired with technical advancements to commercialize highly efficient products are expected to offer huge growth opportunities for industry participants. Some of the main businesses present in the Automated Guided Vehicles (AGV) market are Transbotics, Swisslog Holding Ltd.,System Logistics Spa,Egemin Automation Inc.,Schaefer Systems International, Inc.,Bastian Solutions, Inc.,Locus Robotics,Daifuku Co., Ltd.,inVia Robotics, Inc.,Dematic Corp.,Fetch Robotics, Inc.,JBT Corporation,Elettric80 SpA,Seegrid Corporation,Kollmorgen,Toyota Industries Corporation,KMH Systems, Inc.,Hyster-Yale Group, Inc.,EK Automation,and Balyo Inc.Significant strategic initiatives undertaken by global businesses include partnerships, new product launch, acquisitions.

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