Automated Guided Vehicle Market An in-depth examination of the market, analysis, and projections until 2032

The global Automated Guided Vehicle (AGV) market size was USD 4.80 Billion in 2022 and is expected to register a steady revenue CAGR of 10.0% during the forecast period, according to the latest analysis by Emergen Research. Increasing usage of AGVs in the e-commerce industry and greater adoption of industry 4.0 technologies are key factors driving market revenue growth.

The top competitors in the market, their goals for business expansion, and their development strategies are all closely examined in the Automated Guided Vehicle Market report. The archive encourages businesspeople to look up information about potential customers and places where they might be located. The review, which only highlights the greatest sellers, can help entrepreneurs find potential customers and discover more about their local market.

Automated Guided Vehicles (AGVs) are used in the e-commerce industry to automate the movement of goods within a warehouse or fulfillment center. AGVs can be used to transport products from storage racks to packing and shipping areas, where an order picker can retrieve items for an order. In addition, AGVs can be used to sort and separate products based on their destination or order type, improving the efficiency of the shipping process.

Industry 4.0 refers to the integration of advanced technologies, such as AGVs and IoT, into traditional factories to create smart manufacturing systems. AGVs can be equipped with sensors that collect data on their performance and send it to a central system via the Internet of Things (IoT). This allows for real-time monitoring of AGV operations and can help identify any issues that need to be addressed. IoT can be used to predict when maintenance is needed by collecting data on AGV performance and usage, which can help prevent downtime and improve the overall efficiency of AGVs. Moreover, IoT can be used to connect AGVs with other systems, such as conveyors, robotics, and other automated equipment, allowing for greater coordination and improved overall efficiency. This is expected to increase demand for AGVs in smart manufacturing and drive revenue growth in the market.

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Competitive Terrain:

The global Automated Guided Vehicle industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

Leading Market Players Profiled in the Report:

Swisslog Holding AG, Egemin Automation Inc., Bastian Solutions, LLC, Daifuku Co., Ltd., Dematic, JBT, Seegrid Corporation, TOYOTA INDUSTRIES CORPORATION, Hyster-Yale Materials Handling, Inc., and BALYO

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Some Key Highlights From the Report

The hardware segment is expected to account for largest revenue share over the forecast period. This is attributed to rising demand for advanced sensors such as Laser sensors, image sensors, and others in AGVs.

The tow vehicle segment accounted for largest revenue share in 2022. This is due to rising demand for small and sophisticated automated tow vehicles using software and sensors to navigate automatically.

The laser guidance segment accounted for largest revenue share in 2022. This can be attributed to increasing use of laser guidance systems to navigate with higher accuracy and precision.

The logistics and warehousing segment accounted for largest revenue share in 2022. This is due to increasing popularity of AGVs in logistics and warehousing that can be programmed to perform independently without much human intervention, which in turn, has risen demand for AGVs in logistics and warehouses.

The wholesale and distribution sector segment is expected to account for highest revenue share over the forecast period. Increasing popularity for new technologies such as Radio-Frequency Identification (RFID) that can be used in AGVs for inventory management.

The Europe market is expected to account for largest revenue share over the forecast period. This is due to increasing initiatives and conducive policies to facilitate smart manufacturing as well as support from the European Union (EU).

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Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Automated Guided Vehicle market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Competitive Outlook: The leading companies operating in the Automated Guided Vehicle market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Automated Guided Vehicle market.

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Market Overview:

The report bifurcates the Automated Guided Vehicle market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

Component Outlook (Revenue, USD Billion; 2019-2032)




Vehicle Type Outlook (Revenue, USD Billion; 2019-2032)

Tow Vehicle

Forklift Truck

Pallet Truck

Hybrid Vehicles

Unit Load Carrier


Navigation Technology Outlook (Revenue, USD Billion; 2019-2032)

Laser Guidance

Inductive Guidance

Vision Guidance

Magnetic Guidance

Natural Navigation


Regional Outlook:

North America (the U.S., Canada, Mexico)

Europe (the U.K., Germany, France, Italy)

Asia Pacific (India, China, Japan, Korea)

Latin America (Brazil, Argentina, Ecuador, Chile)

Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)

Key reasons to buy the Global Automated Guided Vehicle Market report:

The latest report comprehensively studies the global Automated Guided Vehicle market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.

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The report offers an insightful analysis of the regional outlook of the market.

It offers a detailed account of the end-use applications of the products & services offered by this industry.

The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

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