The Automated Guided Vehicle market was valued at US$ 2.71 billion by 2021, and it is anticipated to expand by 10.0% year over year and reach US$ 3.05 billion in 2022. Additionally, growth is anticipated to pick up steam from 2022 to 2032 to a staggering 12.5% CAGR, reaching US$ 9.9 billion.
One of the key elements that is anticipated to increase the demand for autonomous guided vehicles in the oil and gas, transportation, and construction industries is the global increase in industrialisation. The market’s sales forecast will be further shaped by the enhanced features provided by automated guided vehicles, such as fuel efficiency and tailored material handling, which are driving up demand.
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In addition, businesses involved in retail and other aspects of logistics are working together and partnering with tech giants to revolutionise the material handling sector, which will in turn open up lucrative chances for the market’s expansion. For instance, in November 2021, Swisslog Healthcare and OTSAW Digital Pte Ltd, an autonomous mobile robot solution, partnered to create automated guided vehicles for the healthcare industry. These vehicles will enable better patient care.
Deployment of Industry 4.0 in Warehouses to Boost the Automated Guided Vehicle Market Growth
Conventional industrial facilities have transformed into smart, networked, and highly automated facilities as a result of the incorporation of Industry 4.0 concepts. Also, because Industry 4.0 is a single automated unit that combines computers, industrial automation systems, and robotics, it has the power to transform a production facility into a self-contained operation.
A smart architecture with the ability to make decentralised decisions is created by a network of connected devices. The emergence of Industry 4.0 is also changing how warehouses run, and it also aims to create a productive workplace where humans and robots can work together effectively.
In addition, the combination of robots with Industry 4.0 would transform operations into an industrial setting with improved automation system coordination. In the increasingly demanding and continually developing supply chain environment, this integration will allow for high-velocity processes at lower costs while also making them time-critical.
High Quality Research & Development in Automation to Boost the Automated Guided Vehicle Market Growth in the US
Between 2022 and 2032, the US market for automated guided vehicles will expand at a CAGR of 12.4%.
Fact.MR claims that the proliferation of consumer-focused industries in the United States, along with top-notch robotics and automation research and development, are to blame for the rising demand for AGVs.
Growing demand for AGVs within consumer goods, automotive, food & beverage, oil & gas, and healthcare sector is another reason that is propelling the market expansion. Because to the growing demand, manufacturers have expanded AGV manufacturing, which in turn has increased the market’s potential for future growth.
Furthermore, the existence of major firms like Bastian Solutions, AGVE Group, and JBT Corporation is promoting rapid adoption throughout the United States. Also, escalating demand for AGVs in warehouses will open up new chances for these firms and promote sales.
Prominent Automated Guided Vehicle Service Players
- Addverb Technologies
- Aichi Machine Industry Co., Ltd.
- China SME Group Co., Ltd
- DAIFUKU GROUP
- Egemin Automation Inc.
- JBT Corporation
- KUKA AG
- Murata Machinery, Ltd.
- Oceaneering International, Inc.
- SHENZHEN MIRCOLOMAY TECHNOLOGY CO., LTD
- System Logistics S.p.A.
- TOYOTA INDUSTRIES CORPORATION