Natural guidance segment is likely to grow at a CAGR of more than 18% during the forecast period.
Arizton’s recent market research report on the global automated guided vehicle market identifies KION Group, Daifuku, JBT Corporation, and Toyota Industriesas the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by navigation (laser guidance, magnetic guidance, vision guidance, inductive guidance, natural guidance, and others), by vehicle (tow vehicles, unit load vehicles, pallet trucks, forklift trucks, and others), by end-users (automotive, retail, food & beverage, healthcare, and aerospace), and by geography (APAC, Europe, North America, Latin America, and MEA).
The global automated guided vehicle market is estimated to reach values of approximately $5 billion by 2023, growing at around 18% during 2017-2023.
The research report offers market size analysis in terms of unit shipment values during the forecast period.
The global automated guided vehicle market is divided into four major segments that consist of navigation, vehicle, end-users, and geography.
Natural guidance technology to grow at the fastest CAGR in the global automated guided vehicle market during the forecast period
The global automated guided vehicle market by navigation type is segmented into laser guidance, magnetic guidance, vision guidance, inductive guidance, natural guidance, and others. Natural guidance is the fastest growing segment in the market, at a CAGR of more than 18% during the forecast period. The easy, natural navigationof these vehicles that does not need retrofitting of the workspace are major factors attributing to the growth of this segment in the global market. These guided vehicles use a combination of laser-range finders, and gyroscope to pinpoint its current location and dynamically calculates the shortest path to its destination. Such features will boost the demand for these vehicles in the global automated guided vehicle market. These vehicles calculate a failsafe method to counter the downtime caused due to a failed device, thereby having minimal impact on the ongoing operation. The short installations, zero dependencies on markers or reflectors, and true work collaboration with human counterparts are some of the factors that will attribute to the growth of this segment in the global market. The leading vendors are designing products that are capable of maneuvering with minimal dependence on reference points, i.e., they scan the surrounding with the help of lasers mounted on the bumpers to attract a maximum number of consumers in the global automated guided vehicle market.
Unit load vehicles to grow at a significant CAGR in the global automated guided vehicle market during the forecast period
The vehicle type segment in the global automated guided vehicle market is categorized into tow vehicles, unit load vehicles, pallet trucks, forklift trucks, and others. Unit load vehicle segment occupied the second largest market share in 2017, growing at a CAGR of more than 17% during the forecast period. The increasing adoption of unit load vehicles in the material handling sector is propelling the growth of this segment in the global market. The unit load vehicles are equipped with decks, which offers the flexibility of unit load transportation and often automatic load transfer in the market. The tasks executed by these vehicles are involved inthe execution of specific tasks just like mission assignments, which is fueling the growth of the global automated guided vehicle market. These unit load vehicles are usedalong with conveyors with manufacturing/assembly operations or storage retrieval systems. These systems are very efficient horizontal transport systems used for transporting heavy loads between material handling subsystems. Unit load vehicles work on remote management systems which involves an automatic pickup and delivery of products, thereby driving the demand in the global automated guided vehicle.
APAC to grow at an impressive CAGR in the global automated guided vehicle market during the forecast period
The global automated guided vehicle market by geography is divided into APAC, Europe, North America, Latin America, and MEA. APAC is the fastest growing segment in the market, at a CAGR of around 23% during the forecast period. The increasing adoption of industrial robots that assist in manufacturing, warehousing, and across industries is propelling the growth of APAC in the global market. The exponential development of the robotic industry and increasing density of robots across industry verticals in countries such as China, South Korea, and Japan will revolutionize the global automated guided vehicle market. The growth of the e-commerce business will boost the adoption of smart vehicles in the APAC market over the next few years. Alibaba, AliExpress, Amazon, eBay, Etsy, Flipkart, GraysOnline, JingDong (JD), Rakuten, Snapdeal, Taobao, Tmall Global, and XiaoHongShu are investing in theautomation of material handling processes in their warehouses in the APAC market. Moreover, the development of the automotive industry in the APAC region will boost revenues in the global automated guided vehicle market.
The other prominent players in the global automated guided vehicle market are KUKA, Hyster-Yale Group, EK AUTOMATION, Seegrid Corporation, Kollmorgen, Quirepace, Fori Automation, AGVE, SSI SCHAEFER, Transbotics, Savant Systems, Jungheinrich, and Fetch Robotics.
The complete overview of the latest market research report on the global automated guided vehicle market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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