Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 5.4 Billion | USD 12.7 Billion | 9.0% | 2024 |
FrequentlyAsked Questions
An Automated Guided Vehicle (AGV) system, which can also be called autonomous guided vehicles, self-guided vehicles, or mobile robots, is a vehicle designed to move things or materials in a controlled space without a person driving or operating the vehicle.
The Automated Guided Vehicles (AGVs) sector is flourishing due to several factors such as the growing e-commerce sector, industry 4.0 trends, technological advancements, workplace safety, labor shortages, increasing product launches, and Others.
The major challenge for the Automated Guided Vehicles (AGVs) market is high initial investment and maintenance costs, and integration challenges with existing systems.
Based on the Navigation technology, the laser guidance technology is expected to dominate the automated guided vehicles industry growth during the projected period.
The integration of Industry 4.0 and the addition of advanced technology, such as AI, are impacting the automated guided vehicles market growth over the projected period.
According to the report, the global Automated Guided Vehicles (AGVs) market size was worth around USD 5.4 billion in 2024 and is predicted to grow to around USD 12.7 billion by 2034.
The global Automated Guided Vehicles (AGVs) market is expected to grow at a CAGR of 9.0% during the forecast period.
The global Automated Guided Vehicles (AGVs) industry growth is expected to be driven by the North American region. It is currently the world’s highest revenue-generating market, driven by the growing e-commerce sector and the presence of major players.
The global Automated Guided Vehicles (AGVs) market is dominated by players like Dematic, BALYO, Bastian Solutions, LLC, Daifuku Co., Ltd., Swisslog Holding AG, JBT, Seegrid Corporation, TOYOTA INDUSTRIES CORPORATION, Hyster-Yale Materials, Handling, Inc., KION GROUP AG, E&K Automation GmbH, Kollmorgen, KMH Fleet Solutions, ELETTRIC80 S.P.A., and inVia Robotics, Inc., among others.
The automated guided vehicles market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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