The Worldwide Automated Guided Vehicle (AGV) Market Research study describes that the market size was 2.49 Billion USD in 2018 and as expected, it may get expanded at a CAGR of 15.8 percent from the year 2019 to 2025.
The report on Global Automated Guided Vehicle (AGV) Market further describes that AGVs is capable of delivering various benefits, especially improving the warehousing operations efficiency and logistics management processes. Using them repetitively for material handling tasks can also enable businesses to save on the cost of labor and reassign other essential tasks to the staff, like improving customer satisfaction.
The Global Automated Guided Vehicle (AGV) Market Research shares that Automated Guided Vehicle or AGV can accomplish operations related to the material handling reliably and effectively. Such type of vehicles is provided with several accessories and equipment, like smart sensors and devices related to loading protection, which can help in improving efficiency and lessening product damages. An individual can program AGVs using software tools to follow certain paths and embark specific tasks along with that track the movement of goods in handling the material and supply chain operations, thus improving the productivity as well as efficiency. The report includes tasks like pallet handling, material handling, and finalized product handling tend to affect safety concerns. Many pallet handling and material handling operations, especially those who are expecting workers to handle heavy as well as bulky goods, are usually labor-intensive and incorporate safety hazards. Deploying automated guided vehicles on such tasks can help in avoiding any potential mishaps or accidents and assuring safer operations.
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The report contains a complete study of the competitive scenario of the Automated Guided Vehicle (AGV) market and the existing trends that are anticipated to impact the market. It recognizes vital players of the market, including both key and emerging players. The report consists of the companies in the market share study to offer a more comprehensive overview of the key market players. Additionally, the report also includes significant strategic developments of the market such as partnerships, new product launch, agreements, acquisitions & mergers, research & development collaborations & joint ventures, and growth of major market players on a global and regional basis.
Dearborn Mid-West Company
KNAPP Logistics Automation
Global Automated Guided Vehicle (AGV) Market: Segmental Analysis
The Worldwide Automated Guided Vehicle (AGV) Market study describes its market segmentation based on different aspects. The report includes market split by component, incorporates software, hardware, and service. Segmentation based on Battery Type includes lithium-ion, lead, nickel-based, and other. Market spliting based on Vehicle Type includes hybrid vehicles, tow vehicle, pallet truck, unit load carrier, forklift truck, and others. Market segmentation by navigation technology includes natural navigation, laser guidance, vision guidance, magnetic guidance, inductive guidance, and others. Market segmentation by application includes logistics and warehousing, packaging, assembly, raw material handling, trailer loading and unloading, and others.
Global Automated Guided Vehicle (AGV) Market: Regional Analysis
The Global Automated Guided Vehicle (AGV) Market Report highlights that Europe affected the global market of Automated Guided Vehicle in the year 2018 and as expected, it will stay as dominating the regional market during the forecast period. The Automated Guided Vehicle market is largely propelled by boosting demand for material handling equipment as well as instantaneous automation solutions adoption by incumbents in the industry of manufacturing. The e-commerce industry is growing significantly in developing economies, like India and China. Encouraging various e-commerce companies for considering an invasion in the mentioned regional markets. The e-commerce industry competition is expanding afterward and business incumbents are attempting to characterize themselves by lessening the product delivery time. Utilizing AGVs in warehouses can support e-commerce companies to automate intralogistics tasks, for example sorting and picking, thus, augmenting efficiency.
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