Automated Guided Vehicle Market 2024: Some Basic Influencing Factors Making It’s Booming Industry
Get This Report with Special Discount | Automated Guided Vehicle Market report provides analysis of top players in all regions with industry size, growth, technology, market insights, demand, trend, key statistics and industry forecasts to 2024.
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The Automated Guided Vehicle (AGV) Market is estimated to grow from US$ 2.0 Billion in 2019 to US$ 2.9 Billion by 2024 at a CAGR of 7.8%.This report spread across 159 pages, profiling 10 companies and supported with 63 tables and 58 figures is now available in this research.
Major Vendors profiled in the Automated Guided Vehicle Market:
- Daifuku (Japan)
- JBT Corporation (US)
- KION Group (Germany)
- KUKA (Germany)
- Toyota Industries (Japan)
- Hyster-Yale Materials Handling (US)
- Oceaneering International (US)
- EandK Automation (Germany)
- Kollmorgen (US)
- Seegrid Corporation (US)
- SSI Schaefer (Germany)
“Vision-guided AGV market to grow at highest CAGR during forecast period“
The projected high growth of vision-guided AGV market can be attributed to ease of technology as the users don’t need to modify the existing infrastructure for installing these AGVs in an industrial facility. Static barriers or infrastructure modifications, such as magnets or reflectors, do not hinder the navigation of these AGVs through warehouses or industrial facilities. The technology rather enables them to build a three-dimensional map through a series of images taken when an operator tours the vehicle through the warehouse.
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“AGV market for distribution to grow at highest CAGR during forecast period“
Distribution is a key element in various operations such as order fulfillment, cross-dock facility, bulk break, and package handling. The growing e-commerce industry is causing a significant increase in the number of warehouses, thereby creating huge demands for AGVs in distribution centres. The rise in adoption of AGVs in the distribution application is attributed to their ability to handle materials carefully with negligible damage.
“Europe to be largest market for AGVs during forecast period”
Europe is expected to lead the AGV market, in terms of size, from 2019 to 2024. The presence of a large number of key players in this region, along with a large customer base, is among the major factors driving the market in Europe. The region has an exceptionally high labor cost; therefore, manufacturers in European countries have been adopting automated solutions to reduce overall operational cost.
Competitive Landscape of Automated Guided Vehicle Market:
2 Ranking of Players in Automated Guided Vehicle Market
3 Competitive Situations and Trends
3.1 Expansions, Partnerships, and Collaborations
3.2 Product Launches
3.4 Contracts and Agreements
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The Study Objectives of this report are:
- To provide a detailed overview of the value chain of the AGV ecosystem
- To forecast the AGV market size, in terms of value, by region – North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
- To describe and forecast the AGV market, in terms of value, by type, navigation technology, application, and industry
- To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with regard to individual growth trends, prospects, and contributions to the total market
- To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
- To analyze strategic approaches such as contracts, acquisitions, product launches, and expansions and partnerships in the Automated Guided Vehicle Market
Press Release Distributed by The Express Wire
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