Image

Global Automated Guided Vehicle Market - Industry Trends and Forecast to 2031

Automotive

Image

Global Automated Guided Vehicle Market - Industry Trends and Forecast to 2031

  • Automotive
  • Upcoming Report
  • Feb 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Automated Guided Vehicle Market - Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 2.40 USD Billion
Diagram Market Size (Forecast Year) USD 3.80 USD Billion
Diagram CAGR %

Major Markets Players

  • Dummy1
  • Dummy2
  • Dummy3
  • Dummy4
  • Dummy5

Global Automated Guided Vehicle Market, By Product Type (Automated Forklift, Automated Tow/Truck, Unit Load, Assembly Line, and Special Purpose), Offering (In-Built Vehicle Software, and Integrated Software), Vehicle Type (Tow Vehicle, Unit Load Carrier, Pallet Truck, Forklift Truck, Hybrid Vehicles, and Others), Navigation Technology (Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Natural Navigation, and Others), Application (Logistics and Warehousing, Assembly, Packaging, Trailer Loading and Unloading, Raw Material Handling, and Others), End User (Manufacturing Sector, Wholesale and Distribution Sector, and Others) - Industry Trends and Forecast to 2031.

 Automated Guided Vehicle Market

Automated Guided Vehicle Market Analysis and Size

In the automated guided vehicle market, applications span diverse industries such as manufacturing, logistics, and healthcare. These vehicles streamline material handling, offering efficient and flexible solutions for tasks such as goods transportation, assembly line operations, and inventory management. Their versatility and automation capabilities drive productivity and cost savings across sectors.

Data Bridge Market Research analyses that the global automated guided vehicle market, which was USD 2.54 billion in 2023, is expected to reach USD 4.06 billion by 2031, growing at a CAGR of 6.01% during the forecast period of 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Automated Guided Vehicle Market Scope and Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Automated Forklift, Automated Tow/Truck, Unit Load, Assembly Line, and Special Purpose), Offering (In-Built Vehicle Software, and Integrated Software), Vehicle Type (Tow Vehicle, Unit Load Carrier, Pallet Truck, Forklift Truck, Hybrid Vehicles, and Others), Navigation Technology (Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Natural Navigation, and Others), Application (Logistics and Warehousing, Assembly, Packaging, Trailer Loading and Unloading, Raw Material Handling, and Others), End User (Manufacturing Sector, Wholesale and Distribution Sector, and Others)  

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Robert Bosch GmbH (Germany), Hanwha Techwin Co., Ltd. (South Korea), Honeywell International Inc. (U.S.), Schneider Electric (France), Axis Communications AB (Sweden), Johnson Controls (Ireland), Hangzhou Hikvision Digital Technology Co., Ltd. (China), NetApp (U.S.), Dahua Technology (China), KEDACOM (China), Verint Systems Inc. (U.S.), LTIMindtree Limited (India), AxxonSoft. (U.S.), eInfochips (U.S.), Panasonic Holdings Corporation (Japan), Panopto (U.S.), Backstreet Surveillance (U.S.), Eagle Eye Solutions Group Plc. (U.S.), Arcules, Inc. (U.S.)

Market Opportunities

  • Increasing E-commerce Leads to Efficient Intralogistics Solutions
  • Need of Workforce to Optimize Productivity

Market Definition

Automated guided vehicles (AGVs) are self-guided, unmanned vehicles used for material handling tasks in warehouses, factories, and distribution centers. Equipped with sensors and navigation systems, AGVs can transport goods autonomously, enhancing efficiency, reducing labor costs, and improving safety in logistics operations.

Global Automated Guided Vehicle Market Dynamics

Drivers

  • Increasing Demand for Material Handling Efficiency

Industries such as manufacturing, warehousing, and logistics are increasingly turning to AGVs to streamline material handling, increasing efficiency and productivity. These autonomous vehicles navigate warehouses, transport goods, and optimize workflows, reducing manual labor and time spent on repetitive tasks. This trend reflects a growing recognition of AGVs as essential tools for improving operational efficiency in various industries.

  • Technological Advancements to Enhanced AGVs

Technological advancements in robotics, artificial intelligence, and sensor technology have significantly enhanced AGVs, enabling them to operate with increased intelligence, adaptability, and capability in dynamic environments. These advancements empower AGVs to execute complex tasks efficiently, navigate obstacles seamlessly, and respond dynamically to changes in their surroundings, revolutionizing automated material handling operations.

Opportunities

  • Increasing E-commerce Leads to Efficient Intralogistics Solutions

The exponential expansion of e-commerce and online retail has fueled a surge in demand for streamlined intralogistics solutions. Consequently, automated guided vehicles (AGVs) are increasingly favored in fulfillment centers, distribution warehouses, and order processing facilities to meet the pressing need for efficiency and scalability in handling goods, reflecting the evolving landscape of modern commerce. 

  • Need of Workforce to Optimize Productivity

AGVs optimize workforce utilization by automating repetitive tasks such as material handling and pallet movement. This automation allows human workers to focus on value-added activities, enhancing productivity and efficiency. Through reducing manual labor requirements, AGVs streamline operations and enable businesses to allocate human resources more strategically, contributing to overall workforce optimization.

Restraints/Challenges

  • Initial Investment Cost Limits Adoption Rate

The substantial upfront costs associated with implementing automated guided vehicle (AGV) systems act as a significant barrier, impeding market growth. The financial burden encompassing vehicle acquisition, infrastructure modifications, and software integration deters potential adopters. This impediment hampers the widespread acceptance and implementation of AGVs across industries, limiting the market's expansion and adoption rate.

  • Human Resistance to Automation Harm Productivity

Human resistance to automation poses a significant challenge for the AGV market as it obstructs widespread adoption. Fear of job displacement or altered roles undermines acceptance and implementation. This resistance slows down progress and inhibits companies from fully leveraging the benefits of AGV technology, limiting its market potential and growth opportunities.

This  global automated guided vehicle market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global automated guided vehicle market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

  • In June 2023, Mitsubishi Logisnext Americas and Jungheinrich expand their partnership, forming Rocrich AGV Solutions in North America. This collaboration leverages the combined expertise of Jungheinrich and Rocla to offer a comprehensive range of AGVs and automated forklifts, catering to diverse customer needs from standard to specialized applications
  • In August 2022, Swissport initiates a pilot program at Frankfurt Airport, deploying unmanned Automated Guided Vehicles (AGVs) for unit load devices in its new cargo center. This move aims to enhance efficiency by replacing manual cargo transport, showcasing Swissport's commitment to innovative cargo logistics and handling solutions
  • In March 2022, Third Wave Automation (TWA) and CLARK Material Handling Company announce a partnership, revealing plans for the "TWA Reach," an automated reach truck set for release in spring 2023. The collaboration integrates TWA's automation technology and intelligent fleet management capabilities with CLARK's NPX reach truck, offering advanced autonomous materials handling solutions
  • In March 2022, KNAPP and Covariant strengthen their collaboration to develop AI-powered robot solutions further. Focused on enhancing warehouse efficiency, their joint efforts center around KNAPP's Pick-it-Easy Robot, known for its versatility in handling diverse items. This partnership aims to expand market presence and advance AI robotics in logistics

Global Automated Guided Vehicle Market Scope

The global automated guided vehicle market is segmented on the basis of product type, offering, vehicle type, navigation technology, application, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Automated Forklift
  • Automated Tow/Truck
  • Unit Load
  • Assembly Line
  • Special Purpose

 Offering

  • In-Built Vehicle Software
  • Integrated Software

 Vehicle Type

  • Tow Vehicle
  • Unit Load Carrier
  • Pallet Truck
  • Forklift Truck
  • Hybrid Vehicles
  • Others

 Navigation Technology

  • Laser Guidance
  • Magnetic Guidance
  • Vision Guidance
  • Inductive Guidance
  • Natural Navigation
  • Others

 Application

  • Logistics and Warehousing
  • Transportation
  • Cold Storage
  • Wholesale and Distribution
  • Cross-docking
  • Assembly
  • Packaging
  • Trailer Loading and Unloading
  • Raw Material Handling
  • Others

 End User

  • 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
  • Others

Global Automated Guided Vehicle Market Regional Analysis/Insights

The global automated guided vehicle market is analysed and market size insights and trends are provided, product type, offering, vehicle type, navigation technology, application, and end user as referenced above.

The countries covered in the  global automated guided vehicle market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is expected to dominate the automated guided vehicle market, exhibiting the highest growth rate. This dominance is attributed to the region's abundance of dominant and local players, fostering a competitive landscape conducive to technological innovation and market expansion.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Automated Guided Vehicle Market Share Analysis

The global automated guided vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global automated guided vehicle market.

Some of the major players operating in the global automated guided vehicle market are:

  • Robert Bosch GmbH (Germany)
  • Hanwha Techwin Co., Ltd. (South Korea)
  • Honeywell International Inc. (U.S.)
  • Schneider Electric (France)
  • Axis Communications AB (Sweden)
  • Johnson Controls (Ireland)
  • Hangzhou Hikvision Digital Technology Co., Ltd. (China)
  • NetApp (U.S.)
  • Dahua Technology (China)
  • KEDACOM (China)
  • Verint Systems Inc. (U.S.)
  • LTIMindtree Limited (India)
  • AxxonSoft. (U.S.)
  • eInfochips (U.S.)
  • Panasonic Holdings Corporation (Japan)
  • Panopto (U.S.)
  • Backstreet Surveillance (U.S.)
  • Eagle Eye Solutions Group Plc. (U.S.)
  • Arcules, Inc. (U.S.)


SKU-

Please fill in the below form for detailed Table of Content

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Table

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Figure

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for Infographics

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Please fill in the below form for Research Methodology

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Please fill in the below form for Available Customization

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Get online access to the report on the World's First Market Intelligence Cloud

  • Interactive Data Analysis Dashboard
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis
  • Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Request for Demo

FREQUENTLY ASK QUESTIONS

The automated guided vehicle market size will be worth USD 4.06 billion by 2031.
The growth rate of the automated guided vehicle market is 6.01% in the forecast period by 2031.
Increasing demand for material handling efficiency & technological advancements to enhanced agvs are the growth drivers of the automated guided vehicle market.
Product type, offering, vehicle type, navigation technology, application, and end user are the factors on which the automated guided vehicle market research is based.
Major companies in the automated guided vehicle market are Robert Bosch GmbH (Germany), Hanwha Techwin Co., Ltd. (South Korea), Honeywell International Inc. (U.S.), Schneider Electric (France), Axis Communications AB (Sweden), Johnson Controls (Ireland), Hangzhou Hikvision Digital Technology Co., Ltd. (China), NetApp (U.S.), Dahua Technology (China), KEDACOM (China), Verint Systems Inc. (U.S.), LTIMindtree Limited (India), AxxonSoft. (U.S.), eInfochips (U.S.), Panasonic Holdings Corporation (Japan), Panopto (U.S.), Backstreet Surveillance (U.S.), Eagle Eye Solutions Group Plc. (U.S.), Arcules, Inc. (U.S.).
Free Sample Report

CHOOSE LICENCE TYPE

  • 7000.00
  • 4800.00
  • 3000.00
  • 8000.00
  • 12000.00

Why Choose Us

Industry Coverage

DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem.

Regional Coverage

Coverage of Data Bridge is not restricted to developed or emerging economies. We work across the globe covering the largest array of countries where no other market research or business consulting firm has ever conducted research; creating growth opportunities for our clients in areas which are still unknown.

Technology Coverage

In today’s world, technology drives the market sentiment, so our vision is to provide our clients insights not only for developed technologies but upcoming and disrupting technological changes throughout the product lifecycle by enabling them with unforeseen opportunities in the market which will create disruption in their industry. This leads to innovation and our clients to come out as winners.

Goal Oriented Solutions

DBMR goal is to help our clients achieve their goals through our solutions; hence we formatively create the most appropriate solutions for our client needs, saving time and efforts for them to drive their grand strategies.

Unparallel Analyst Support

Our analysts take pride in our clients’ success. Unlike others, we believe in working along our clients to achieve their goals with 24 hours analyst support determining the correct needs and inspire innovation through service.

Banner

Client Testimonials