The Automated Guided Vehicles (AGV) Market is projected to grow at a Compound Annual Growth Rate (CAGR) of 7.1%, from USD 3.00 Billion in 2021 to USD 5.46 Billion by 2030. The increasing demand for automation in material handling across industries, emergence of e-commerce industry, need for safety standards in workplaces, and improved productivity due to better supply chain processes are the key factors driving the growth of AGV market.

However, the high initial costs of deployment of AGVs may lead to long-term high return on investment (ROI), which can be a major concern for potential buyers. Additionally, AGV manufacturers may face challenges due to low labor costs in emerging countries and technical difficulties in real-time operation.

Get a sample of the report @ https://www.reportsanddata.com/download-free-sample/1311  

The tow vehicles segment is expected to hold the largest market share with a CAGR of 8.2% in 2028, owing to its high productivity and ability to transport heavy loads with multiple trailers. Laser guidance technology is expected to hold the largest market share with a CAGR of 8.45% in 2028, as it provides precise navigation and flexibility in vehicle movement.

Lead battery segment is expected to hold the largest market share in the battery type category with a CAGR of 9.12% in 2028, owing to its suitability for automated vehicle guidance. The transportation segment is expected to hold the largest market share with a CAGR of 10.32% in 2028, due to efficient transport systems for goods receipt, production, order picking, and material shipment within a plant.

Driving factors of Automated Guided Vehicles (AGV) Market

1. Increasing demand for automation in material handling across industries
2. Emergence of the e-commerce industry
3. Increasing requirements for safety standards in the workplace
4. Improved productivity due to better supply chain processes

Some of the notable innovations in the Automated Guided Vehicles (AGV) Market

1. Autonomous Navigation: AGVs are now capable of autonomous navigation, which eliminates the need for human intervention in guiding the vehicle. This is made possible by technologies such as laser guidance and vision-guided navigation.
2. Increased Payload Capacity: AGVs are now capable of handling heavier loads than ever before, thanks to innovations such as multi-vehicle towing and the use of stronger materials in their construction.
3. Flexible Configuration: AGVs can now be configured to suit a wide range of applications, including assembly lines, warehousing, and transportation. This is made possible by innovations such as modular designs and adaptable software.
4. Improved Safety Features: AGVs are now equipped with improved safety features such as obstacle detection and collision avoidance systems, which make them safer to use in the workplace.
5. Integration with IoT and AI: AGVs can now be integrated with the Internet of Things (IoT) and Artificial Intelligence (AI) to enable real-time data analysis and decision-making, making them more efficient and effective in material handling operations.

some leading companies operating in the global Automated Guided Vehicle (AGV) market:

SSI Schaefer, EK Automation, JBT Corporation, Toyota Industrial, Daifuku, Hyster-Yale Materials Handling, KUKA, KION Group, Kollmorgen, and Seegrid Corporation Incorporated.

To know more about the report @ https://www.reportsanddata.com/report-detail/automated-guided-vehicle-agv-market 

Get Explore Latest Research Report by Reports and Data:

Automotive Diagnostics Market @ https://www.globenewswire.com/news-release/2019/04/15/1804182/0/en/Automotive-Diagnostics-Market-To-Reach-USD-55-6-Billion-By-2026-Reports-And-Data.html

Vehicle Access Control Market @ https://www.globenewswire.com/news-release/2019/06/11/1867165/0/en/Vehicle-Access-Control-Market-To-Reach-USD-23-00-Billion-By-2026-Reports-And-Data.html

Automotive AfterMarket @ https://www.globenewswire.com/news-release/2019/08/12/1900509/0/en/Automotive-Aftermarket-Wheels-Market-To-Reach-USD-4-66-Billion-By-2026-Reports-And-Data.html

Automotive Interior Materials Market @ https://www.globenewswire.com/news-release/2019/09/04/1911062/0/en/Automotive-Interior-Materials-Market-To-Reach-USD-79-79-Billion-By-2026-Reports-And-Data.html

Adaptive Cruise Control Market @ https://www.globenewswire.com/news-release/2019/11/18/1948839/0/en/Adaptive-Cruise-Control-Market-To-Reach-USD-23-85-Billion-By-2026-Reports-And-Data.html

Hybrid Train Market @ https://www.globenewswire.com/news-release/2020/02/03/1978973/0/en/Hybrid-Train-Market-To-Reach-8-152-Units-By-2026-Reports-And-Data.html

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com