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The Business Research Company's Automated Guided Vehicle Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UNITED KINGDOM, October 8, 2024 /EINPresswire.com/ -- The automated guided vehicle market has experienced robust growth in recent years, expanding from $4.59 billion in 2023 to $5.19 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to market competition and demand, sustainability initiatives, increased e-commerce activities, industrial automation, cost efficiency.

What Is The Estimated Market Size Of The Global Automated Guided Vehicle Market And Its Annual Growth Rate?
The automated guided vehicle market is projected to continue its strong growth, reaching $8.26 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to global logistics demand, rise in automation, safety enhancement, adaptability and flexibility, regulatory standards.

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Growth Driver Of The Automated Guided Vehicle Market

The rising demand for automation solutions is expected to propel the growth of the automated guided vehicles market in the coming future. Automation solutions involve the use of technology and software to accomplish activities and processes with little human interaction, intending to streamline operations, increase efficiency, and improve overall productivity across a variety of sectors. The incorporation of automation solutions into AGVs is consistent with the larger trend of Industry 4.0, in which smart technology and connectivity drive intelligent and automated production and logistical operations. 

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Which Market Players Are Steering The Automated Guided Vehicle Market Growth?

Key players in the market include Balyo, Daifuku Co Ltd., E&K Automation GmbH, JBT Corporation, Kuka AG, Oceaneering International Inc, Seegrid Corporation, Schaefer Systems International Inc., Toyota Material Handling, Swisslog Holding AG, Bastian Solution, Dematic, inVia Robotics Inc., Kollmorgen, Elettric80 S.P.A., Fetch Robotics Inc., Locus Robotics, Krones AG, SMARLOGY AGV and AMR, Wellwit Robotics, ADDVERB, AGVE GROUP, AGILOX, Creform Corporation, KMH Systems Inc., DF Automation and Robotics Sdn. Bhd., DS AUTOMOTION GmbH, Konecranes and Demag Private Limited, KUKA Systems Aerospace Group, Egemin Automation Inc.

What Are The Key Trends That Influence Automated Guided Vehicle Market Size?

Major companies operating in the automated guided vehicles market are adopting a strategic partnership approach aiming to develop high-level AGV solutions. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success.

How Is The Global Automated Guided Vehicle Market Segmented?

1) By Type: Two vehicles, Unit load carriers, Pallet trucks, Assembly line vehicles, Forklift trucks
2) By Navigation Technology : Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Natural Navigation
3) By Application: Transportation, Distribution, Storage, Assembly, Packaging, Waste handling
4) By Industry: Automotive, Maufacturing, Food and Beverage, Aerospace, Healthcare, Logistics, Retail

Geographical Insights: Asia-Pacific Leading The Automated Guided Vehicle Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Automated Guided Vehicle Market Definition
An automated guided vehicle (AGV) is a mechanized vehicle that delivers a load through an assembly, production, or storage facility. AGVs are guided by computerised vehicles, which employ software to identify their positioning, movement, and location. This involves delivering products directly to production lines and carrying materials from receiving to the warehouse.

Automated Guided Vehicle Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global automated guided vehicle market report covering trends, opportunities, strategies, and more

The Automated Guided Vehicle Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automated guided vehicle market size, automated guided vehicle market drivers and trends and automated guided vehicle market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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