PUNE, INDIA, April 20, 2023 /EINPresswire.com/ -- The Autonomous Forklift Market is projected to grow from USD 4.6 billion in 2023 to USD 8.8 billion by 2028, at a CAGR of 13.8% from 2023 to 2028. Growth in end-use industries and the adoption of automated material handling systems to improve material handling and logistics in Asia-pacific are projected to lead the autonomous forklift market.

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The widening gap between supply and demand is driving up real estate prices in many developed nations. In Europe, the warehouse land is almost exhausted, but demand is still growing. Maximizing space utilization in other developed nations in North America and Asia Pacific is important. This has become essential considering the rising population and consumer demand. Using an autonomous forklift helps maximize space utilization while cutting labor costs.

The autonomous forklift market refers to the market for self-driving forklifts that can operate without human intervention in warehouses and other industrial settings. These forklifts use advanced sensors, cameras, and software to navigate and perform tasks such as loading and unloading materials, stacking pallets, and moving inventory.

The key drivers of this market include the need for increased efficiency and productivity, reduced labor costs, and improved safety in warehouse operations. Autonomous forklifts can operate around the clock, without breaks or downtime, and can reduce the risk of accidents and injuries in the workplace.

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The autonomous forklift market comprises prominent players such as Toyota Industries Corporation (Japan), Kion Group AG (Germany), Mitsubishi Logisnext Co Ltd (France), Jungheinrich AG (Germany), and Hyster-Yale Materials Handling (US). These companies offer a range of autonomous forklifts with varying capabilities and features, such as obstacle detection, object recognition, and real-time mapping.

Ganesh Pardeshi
ReportsnReports
+ + 1 347 333 3771
ganesh.pardeshi@reportsandreports.com

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