Download Sample, Technological Advancements Accelerated the Adoption of Automated Guided Vehicles
Technological advancements such as machine learning, big data, and others have accelerated the adoption of automated material handling operations because they provide greater quality control, a more flexible manufacturing process, and more effective workforce management. As a result, the increasing adoption of automation in the material handling process is expected to be a major driving force in the global automated guided vehicle market expansion. Furthermore, the rise of the e-commerce sector is expected to increase the use of automated material handling systems, which is expected to enhance market growth.
The increasing use of automated guided vehicles in the food and beverage and automotive industries is expected to drive market expansion in the coming years. The rising use of automation in the material handling process is expected to drive market expansion. Furthermore, the increasing development of Industry 4.0 warehouses for robots and the increasing deployment of Industry 4.0 technology as a result of the increasing shift of conventional manufacturing units to highly efficient, smart, and networked, automated facilities are expected to boost market growth in the coming years.
The increasing use of automated guided vehicles in the food and beverage and automotive industries is expected to drive market expansion in the coming years. The rising use of automation in the material handling process is expected to drive market expansion. Furthermore, the increasing development of Industry 4.0 warehouses for robots and the increasing deployment of Industry 4.0 technology as a result of the increasing shift of conventional manufacturing units to highly efficient, smart, and networked, automated facilities are expected to boost market growth in the coming years.
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Increased Focus on Improving Workplace Safety Will Boost the Automated Guided Vehicles Market
Employee safety is a major concern in many industries, including logistics and warehousing, manufacturing, metals and heavy machinery, and automotive, as workers are required to perform potentially hazardous tasks and operate in dangerous conditions. Most of these industries, perform duties such as loading, unloading, storage, and movement of commodities physically, putting human employees in danger.
Automated guided vehicles reduce the number of accidents and increase the safety of workers. Industries are working to improve workplace safety in order to eliminate accidents, reduce downtime, and boost production. Automated guided vehicles are becoming more popular, and an increasing number of companies are using them in warehouses. These vehicles are capable of handling heavier loads and transporting goods efficiently. Intelligent unmanned vehicles are less prone to errors, assisting companies in reducing accidents and ensuring workplace safety.
Automated guided vehicles reduce the number of accidents and increase the safety of workers. Industries are working to improve workplace safety in order to eliminate accidents, reduce downtime, and boost production. Automated guided vehicles are becoming more popular, and an increasing number of companies are using them in warehouses. These vehicles are capable of handling heavier loads and transporting goods efficiently. Intelligent unmanned vehicles are less prone to errors, assisting companies in reducing accidents and ensuring workplace safety.
Recent Trends in the Automated Guided Vehicle Industry:
- Increasing adoption of autonomous mobile robots (AMRs) is evident.
- AGV applications are expanding beyond conventional manufacturing environments.
- AGVs are integrating with IoT to streamline warehouse automation.
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Preference to Mobile Robots in the Retail and E-Commerce Industries & High Initial Costs is Likely to be a Threat to Market Participants
The logistics industry is essential for the smooth functioning of the e-commerce and retail industries. Companies in the e-commerce and retail industries are turning to automated material handling technology to increase operational efficiency. Companies in the e-commerce industry are deploying mobile robots to automate warehouse operations. Furthermore, mobile robots have lower installation and commissioning costs than automated guided vehicles and are easier to install. These mobile robot characteristics may hamper the adoption of automated guided vehicles in the retail and e-commerce industries.
Depending on the incorporated battery type and navigation technology, the initial cost of the automated guided vehicle is high. Due to the high initial cost, small and medium-sized companies find it difficult to adopt material-handling automation technologies, which are mainly affordable to large-scale industries and thus, restrict market expansion. However, any error in the control software may cause the automated guided vehicles to malfunction, thereby delaying the entire production process. Poor maintenance can cause mechanical breakdowns, resulting in a loss of productivity and performance. As a result, regular maintenance is critical to the effective operation of automated guided vehicles.
Depending on the incorporated battery type and navigation technology, the initial cost of the automated guided vehicle is high. Due to the high initial cost, small and medium-sized companies find it difficult to adopt material-handling automation technologies, which are mainly affordable to large-scale industries and thus, restrict market expansion. However, any error in the control software may cause the automated guided vehicles to malfunction, thereby delaying the entire production process. Poor maintenance can cause mechanical breakdowns, resulting in a loss of productivity and performance. As a result, regular maintenance is critical to the effective operation of automated guided vehicles.
New Product Launches, Incorporating Advanced Technologies & Collaborations Leading to Automated Guided Vehicle Market Expansion
The market is dominated by a number of leading companies that emphasize research and development activities in order to increase performance by incorporating advanced technologies. Contracts, new product launches, corporate expansions, collaborations, and acquisitions are some of the innovative growth techniques used to expand the market globally. ek Robotics GmbH introduced the VARIO MOVE transport vehicle in Apr 2020. It consists of a drive unit that is equipped with various load-handling accessories via universal interfaces.
KION GROUP AG established a new forklift truck manufacturing facility in China in Dec 2021, providing the framework for future supply chain solutions. Daifuku Co., Ltd. and Germany-based AFT-Group signed an agreement in Feb 2021 to develop a commercial relationship targeted at leveraging both companies' material handling experience in the automobile industry. This mutually advantageous business alliance will be used by Daifuku Co., Ltd., and AFT-Group to create channels and secure increased demand and investment from vehicle manufacturers for material handling systems globally.
TOYOTA MOTOR CORPORATION and ANA (All Nippon Airways) tested Japan's first autonomous towing tractors at Tokyo Haneda Airport in Mar 2021. Towing tractors use 2D/3D LIDAR sensors to automatically detect objects in their path and automatically change direction and adjust course. Midea Group (KUKA AG) secured a contract with Ford Motor Company (Ford Otosan) in Jan 2022 to supply more than 700 robots for Ford's next-generation electrical and connected commercial vehicle projects. The agreement extends the company's collaboration, which has been in effect for almost 20 years. Siemens collaborated with PARMLEY GRAHAM LTD. and AR Controls in Feb 2022 to construct, design, and manufacture automated guided vehicles. The collaboration and introduction of automated guided vehicles will bring numerous benefits, including lower labor expenses, reduced risk of workplace accidents, logistics management, and faster delivery.
KION GROUP AG established a new forklift truck manufacturing facility in China in Dec 2021, providing the framework for future supply chain solutions. Daifuku Co., Ltd. and Germany-based AFT-Group signed an agreement in Feb 2021 to develop a commercial relationship targeted at leveraging both companies' material handling experience in the automobile industry. This mutually advantageous business alliance will be used by Daifuku Co., Ltd., and AFT-Group to create channels and secure increased demand and investment from vehicle manufacturers for material handling systems globally.
TOYOTA MOTOR CORPORATION and ANA (All Nippon Airways) tested Japan's first autonomous towing tractors at Tokyo Haneda Airport in Mar 2021. Towing tractors use 2D/3D LIDAR sensors to automatically detect objects in their path and automatically change direction and adjust course. Midea Group (KUKA AG) secured a contract with Ford Motor Company (Ford Otosan) in Jan 2022 to supply more than 700 robots for Ford's next-generation electrical and connected commercial vehicle projects. The agreement extends the company's collaboration, which has been in effect for almost 20 years. Siemens collaborated with PARMLEY GRAHAM LTD. and AR Controls in Feb 2022 to construct, design, and manufacture automated guided vehicles. The collaboration and introduction of automated guided vehicles will bring numerous benefits, including lower labor expenses, reduced risk of workplace accidents, logistics management, and faster delivery.
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Increasing Use of New Technologies and Automation Leads to Market Growth
North America's share of the automated guided vehicle market is expected to expand rapidly. Rising exports and imports are anticipated to be the primary development drivers in the region's market. The increasing use of new technologies and automation to meet expanding client demand is anticipated to boost the region's market expansion. Asia Pacific is expected to develop significantly in the worldwide market. The rapidly increasing e-commerce business in India, Japan, and China is likely to be a major factor driving the market expansion in the region. Europe is anticipated to grow steadily over the forecast period.
Automation in all sectors, as well as increased demand for material handling equipment from the manufacturing industry, are expected to drive market expansion in the region. Automated guided vehicles are widely used because of various advantages, including lower labor costs, less product damage, higher productivity, and the ability to expand and support automation operations. These significant benefits are driving transportation and logistics companies to use automated guided vehicles to improve the efficiency of operations.
Automation in all sectors, as well as increased demand for material handling equipment from the manufacturing industry, are expected to drive market expansion in the region. Automated guided vehicles are widely used because of various advantages, including lower labor costs, less product damage, higher productivity, and the ability to expand and support automation operations. These significant benefits are driving transportation and logistics companies to use automated guided vehicles to improve the efficiency of operations.
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The report provides a detailed overview of the automated guided vehicle market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the automated guided vehicle market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the automated guided vehicle market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the automated guided vehicle market. Some key country and region included in the automated guided vehicle market report as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Singapore, Malaysia, Vietnam, Thailand, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Turkey, Morocco, Algeria, Israel, Iran, Kenya, Rest of MEA |
Automated Guided Vehicle Market Research Report Covers In-depth Analysis on:
- Automated guided vehicle market detailed segments and segment-wise market breakdown
- Automated guided vehicle market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in automated guided vehicle industry)
- Current, historical, and forthcoming 10 years market valuation in terms of automated guided vehicle market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Automated guided vehicle market demand analysis
- Automated guided vehicle market pricing analysis over the forecast period (by key segment and by region)
- Automated guided vehicle market regional insights withthe region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in the automated guided vehicle market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in the automated guided vehicle market
- Automated guided vehicle market sales and distribution strategies
- A comprehensive overview of the parent market
- A detailed viewpoint on the automated guided vehicle market forecast by countries
- Mergers and acquisitions in the automated guided vehicle market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What factors are driving the adoption of automated guided vehicles?
The demand for enhanced productivity, labor cost optimization, and the need for automation to meet supply chain complexities are key drivers encouraging the adoption of Automated Guided Vehicles.
What are the primary challenges faced by the automated guided vehicle market?
High initial investment costs, complex implementation processes, and limited flexibility in dynamic environments are some of the significant challenges for the Automated Guided Vehicle market.
Why should manufacturers invest in an Automated Guided Vehicle Market Research Report?
A research report offers comprehensive insights into market trends, competitive landscapes, and emerging technologies, helping manufacturers make informed decisions and identify growth opportunities.
