Automated Guided Vehicle Market size is expected to reach USD 9.38 billion by 2030

 Automated Guided Vehicle Industry Overview

The global automated guided vehicle market size was valued at USD 3.81 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030.

Automated guided vehicle (AGV) systems assist to move and transport items in manufacturing facilities, warehouses, and distribution centers without any permanent conveying system or manual intervention. It follows configurable guide paths for optimization of storage, picking, and transport functions in the environment of premium space.

AGVs are being highly adopted owing to several benefits, such as reduced labor costs, reduced product damage, increased productivity, and scale to support automation processes. These notable advantages are encouraging the transportation and logistics firms to deploy AGVs in order to boost the efficiency of their operations. For instance, in May 2021, AUDI AG stated that they use AGVs in their manufacturing centers which helps them indirectly plan the production process to know which component is out of stock and needs to be available. Further, it also helps in carrying items supply trolleys which helps them maintain safety.

Gather more insights about the market drivers, restrains and growth of the Global Automated Guided Vehicle Market

Retailing and other logistics-related companies are collaborating and partnering with tech giants to transform the material handling industry. For instance, in November 2021, OTSAW Digital Pte Ltd, an autonomous mobile robot solution, partnered with Swisslog Healthcare to develop automated guided vehicles for the healthcare sector to enable better patient care. Further, this partnership would expand their business by deploying AGV in Asia Pacific, Europe, and MEA. Besides, in February 2022, Siemens, a Germany-based industrial manufacturer, partnered with Parmley Graham Ltd. and AR Controls to build, design, and manufacture automated guided vehicles. The partnership and the launch of AGV would bring a lot of advantages such as low labor costs, reduced risk of workplace injury, logistics management, and faster delivery.

Furthermore, retail and commerce-based companies and businesses are deploying collaborative robots in their warehouses and expanding their businesses through acquisitions of large-scale cobot providers. For instance, in February 2022, SAVE MART SUPERMARKETS, a grocery store company, partners with Starship Technologies, a provider of autonomous delivery vehicles. The initiative aims to deliver groceries using the starship robot, a combination of artificial intelligence and machine learning. With the installation of the starship robot, SAVE MART SUPERMARKETS expanded its delivery area.

Besides, in August 2021, Alta Equipment Company, a prominent solution provider for construction equipment, industrial forklifts material handling, and warehouse solutions, partnered with Vecna Robotics, an autonomous mobile robotics company and a provider of workflow optimization solutions and logistics automation. This partnership would deliver an autonomous mobile robotic solution to its customers for integrated-pallet handling, safe and versatile. The partnership aims to expand the Vecna Robotics business, whereas Alta Equipment would serve its customers with innovative class materials handling equipment. Further, in July 2021, ABB automation company, a Swedish multination corporation, acquired ASTI Mobile Robotics, specializing in automation solutions. This acquisition would let ABB expand into new industry segments by offering an automation portfolio.

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Key Companies Profile

Some prominent players in the automated guided vehicle market include:

  • Swisslog Holding AG
  • Egemin Automation Inc.
  • Bastian Solutions, Inc.
  • Daifuku Co., Ltd.
  • Dematic
  • JBT
  • Seegrid Corporation
  • TOYOTA INDUSTRIES CORPORATION
  • Hyster-Yale Materials Handling, Inc.
  • BALYO
  • E&K Automation GmbH

Order a free sample PDF of Automated Guided Vehicle Market Intelligence Study, published by Grand View Research.

 

 

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