IMARC Group, a leading market research company, has recently releases report titled “Automated Guided Vehicles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automated guided vehicles market trends, size, share, growth and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Industry Overview of Automated Guided Vehicles

Automated guided vehicles (AGVs) are self-propelled, computer-controlled vehicles designed to transport materials and products within various industrial settings. They include mobile robots equipped with sensors, cameras, and navigational systems that enable them to move autonomously throughout a facility while avoiding obstacles and adhering to predefined routes. They utilize various navigation methods, such as laser guidance, magnetic tape, or vision-based systems, to navigate their environment accurately. They streamline the movement of goods in distribution centers, ensuring timely deliveries and reducing labor costs. They operate around the clock, eliminating the need for breaks and improving production and logistics efficiency. They follow precise routes and instructions, minimizing errors in material handling. They play a vital role in optimizing warehouse operations by moving goods from storage to picking areas or shipping docks.

How Big Is the Automated Guided Vehicles Market?

The global automated guided vehicles market size reached US$ 3.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.8 Billion by 2028, exhibiting a growth rate (CAGR) of 14.5% during 2023-2028.

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What are the growth prospects and trends in the automated guided vehicles industry?

At present, the rising challenges faced by companies in finding and retaining skilled labor represent one of the key factors impelling the market growth. Additionally, the increasing advancements in AGV technology, including improved navigation systems, artificial intelligence (AI)-driven decision-making, and enhanced sensor capabilities, are making them more attractive to various industries. Besides this, the growing adoption of AGVs in the healthcare industry for safe and efficient transportation of medications, medical equipment, and supplies within hospital premises is offering a favorable market outlook.

Moreover, the rising integration of AGVs into industry 4.0 initiatives, allowing them to communicate and coordinate with other smart factory equipment and systems, is supporting the market growth. In addition, the increasing incorporation of advanced safety features into AGVs, such as collision avoidance systems and obstacle detection, making them a safer alternative to traditional material handling methods, is contributing to the market growth.

Furthermore, the growing incorporation of AGVs into the internet of things (IoT) ecosystem is enabling real-time monitoring, data sharing, and remote control, which is particularly valuable for industries with distributed operations. Apart from this, the rising employment of AGVs in just-in-time (JIT) manufacturing, where materials and components are delivered precisely when needed, is strengthening market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

• Tow Vehicles
• Unit Load Carriers
• Pallet Trucks
• Assembly Line Vehicles
• Forklift Trucks

Breakup by Mode of Operation:

• Indoor
• Outdoor

Breakup by Navigation Technology:

• Laser Guidance
• Magnetic Guidance
• Inductive Guidance
• Optical Tape Guidance
• Vision Guidance
• Others

Breakup by Application:

• Transportation
• Distribution
• Storage
• Assembly
• Packaging
• Waste Handling

Breakup by Industry:

• Automotive
• Manufacturing
• Food and Beverages
• Aerospace
• Healthcare
• Logistics
• Retail
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Bastian Solutions LLC (Toyota Industries Corporation), Daifuku Co. Ltd., Ek Robotics Gmbh, IKV Robot Nanchang Co. Ltd., John Bean Technologies Corporation, Jungheinrich AG, Kion Group AG, KUKA Aktiengesellschaft, Murata Machinery Ltd., Schaefer Systems International Pvt Ltd., Scott Systems International Inc. and Simplex Robotics Pvt. Ltd.

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