Global Automated Guided Vehicle Market Size, Share, Forecast Report, 2020-2027
The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Automated Guided Vehicle Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Automated Guided Vehicle market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.
The global automated guided vehicle market size was valued at USD 3.0 billion in 2019 and is expected to witness a CAGR of 14.1% from 2020 to 2027. Automated guided vehicle (AGV) systems assist to move and transport items in manufacturing facilities, warehouses, and distribution centers without any permanent conveying system or manual intervention. It follows configurable guide paths for optimization of storage, picking, and transport functions in the environment of premium space.
AGVs are being highly adopted owing to several benefits, such as reduced labor costs, reduced product damage, increased productivity, and scale to support automation processes. These notable advantages are encouraging the transportation and logistics firms to deploy AGVs in order to boost the efficiency of their operations.
Retailing and other logistics-related companies are collaborating and partnering with tech giants to transform the material handling industry. For instance, in August 2019, Murata Machinery, Ltd. (Japan), a global provider of the material handling solutions, collaborated with Alert Innovation (U.S.), which is specialized in providing automated solutions such as automated storage and retrieval system. Under this partnership, Murata Machinery, Ltd. has adapted the latter company’s Alphabot technology to transform the grocery retail by developing and commercializing the materials handling technology.
For another instance, in October 2019, Tompkins Robotics, a global provider of autonomous mobile robots, partnered with the PULSE Integration, which provides agnostic engineered solutions for automation facility design, material handling, and system integration. This partnership was done in order to deliver automated material handling sortation system to its clients in the third-party logistics, manufacturing, and retail industries.
Furthermore, retail and commerce-based companies and businesses are deploying collaborative robots in their warehouses and expanding their businesses through acquisitions of large-scale cobot providers. For instance, in November 2019, Teradyne, Inc., a global provider of collaborative and autonomous robots, acquired the AutoGuide Mobile Robots, which is a global provider of mobile robotic solutions for increased flexibility, reduced costs, and improved workflow. This partnership was done in order to bring autonomous mobile robots for Teradyne’s manufacturing, warehouse, and logistics.
In another instance, in October 2019, Shopify Inc., the Canada-based multinational e-commerce company, completed the acquisition of 6 River Systems, Inc., a global provider of fulfillment solutions using collaborative robots. The former company took this strategic initiative to enable the Shopify Fulfillment Network by using 6 River Systems’ fleet of collaborative mobile robots and cloud-based software. In addition, in June 2018, The-Scott-Group, a service provider in European manufacturing markets, acquired the Transbotics, a U.S. based AGV manufacturer, to expand its geographic presence in U.S.
AGVs are being used in various end-use industries, such as logistics, automotive, healthcare, manufacturing, and food and beverages. Increased productivity and reduced labor costs are the key factors driving the need for industrial equipment. The demand for AGVs is expected to grow owing to increasing automation in industries. Increasing industrialization has led to the continuous need for customized material handling and transport solutions for fueled efficiency
The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Automated Guided Vehicle market are included as given below:
The key industry participants in the market include 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; and Scott.
Increasing collaborations and mergers and acquisitions are expected to maximize the environmental and economic benefits for the market players by enabling them to share ideas and enhance their internal skills and technologies. For instance, in August 2019, GreyOrange pte ltd., a global provider in warehouse automation systems, has partnered with eight warehouse solution providers in U.S., namely, Avik Services; Bricz; Active Network, LLC; Infosun; S&H SYSTEMS; TREW, Inc.; UST GLOBAL INC.; and McCombs-Wall, Inc. Engineering. Under this partnership, these supply chain solution providers would help GreyOrange pte ltd. to sell and deploy GreyOrange technology. This integration is expected to help provide a complete end-to-end warehouse management solution to clients and partners jointly.
The global Automated Guided Vehicle market has been segmented as below:
- Vehicle Type
- Tow Vehicle
- Unit Load Carrier
- Pallet Truck
- Forklift Truck
- Hybrid Vehicles
- Laser Guidance
- Magnetic Guidance
- Vision Guidance
- Inductive Guidance
- Natural Navigation
- Logistics and Warehousing
- Cold Storage
- Wholesale & Distribution
- Trailer Loading and Unloading
- Raw Material Handling
- Logistics and Warehousing
- End-use Industry
- Manufacturing Sector
- Wholesale and Distribution Sector
- Retail Chains/Conveyance Stores
- Grocery Stores
- Hotels and Restaurants
- Battery Type
- Lead Battery
- Lithium-Ion Battery
- Nickel-based Battery
- Manufacturing Sector
- Global Automated Guided Vehicle Market by Region
- North America
- Asia Pacific
- Rest of the World
Reasons to Purchase this Report:
Estimates Automated Guided Vehicle development trends with SWOT analysis
- Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
- Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
- Market dynamics scenario, along with growth opportunities for players in the years to come
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects