Automated guided vehicles (AGVs) have wide-spread applications in material handling across various industries such as automotive, manufacturing, F&B, aerospace, healthcare, logistics, retail, and others, to address the growing need for automation in material handling.
The growing demand of material handling equipment to enhance operational efficiency in industrial processes along with rising cost of skilled labor are key factors that drive the growth of the market. Ensuring work safety across industries and enhancing high productivity are other factors that are expected to boost the growth of the AGVs market. Huge capital investment coupled with very low cost related with legacy material handling equipment are key factors that hinder the growth of the market. Flexible manufacturing system along with increasing demand for smart & customized AGVs are the factors that will offer ample growth opportunities to the market. The reduced time-to-market is a key market challenge that needs to be overcome by the players to gain a stronghold in the market.
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The report segments the world automated guided vehicles (AGVs) on the basis of industry vertical, application and geography. On the basis of industry vertical, the market is segmented into automotive industry, manufacturing, food & beverage, aerospace, healthcare, logistics, retail and others. On the basis of applications, the market is segmented into transportation, distribution, storage, assembly, packaging and others. On the basis of geography, the market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America, and Middle East & Africa (LAMEA).
Key market players operating in the market are Bastian Solutions LLC, Daifuku CO. Ltd., Dematic GMBH & Co. KG, Egemin Automation Inc., EK Automation, Frog AGV Systems B.V., Hyster-Yale Materials Handling Inc., JBT Corporation, Kollmorgen, Seegrid Corporation, Swisslog Holding AG, Toyota Industrial Equipment Manufacturing Inc.
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