Automated Guided Vehicle Growth Will Be Accelerated By Implementing Industry 4.0 In Warehouses

The purpose of the global Automated Guided Vehicle market report is to provide reliable and useful industry data and statistics on domestic and international markets, enabling market leaders, investors, small businesses, and others in getting global market intelligence. The global market for automated guided vehicles was estimated to be worth USD 2.71 billion by 2021; it is predicted to rise by 10.0% annually to US$ 3.05 billion by 2022. From 2022 to 2032, growth is predicted to accelerate to a startling 12.5% CAGR, reaching US$ 9.9 billion.

What are Automated Guided Vehicles (AGVs)?

  • AGVs are material handling systems that use automated guidance technology to transport materials, goods, and products within a manufacturing or distribution facility.
  • AGVs are equipped with guidance systems, such as sensors and lasers, to follow a predetermined path, avoiding obstacles and performing various tasks, such as picking, placing, and delivering materials to specific locations.

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How 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.

Key Companies Profiled

  • Addverb Technologies
  • Aichi Machine Industry Co., Ltd.
  • China SME Group Co., Ltd
  • Egemin Automation Inc.
  • GreyOrange
  • JBT Corporation
  • Konecranes
  • Murata Machinery, Ltd.
  • Oceaneering International, Inc.
  • System Logistics S.p.A.

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.

What are the key benefits of this Automated Guided Vehicle market research report?

  • The report does a CAGR computation and covering regulatory updates, best Automated Guided Vehicle market practices, and new trends in the market.
  • The report does international Automated Guided Vehicle market analysis providing economic forecasts and country wise intelligence, risks forecast, and more.
  • The report provides domestic as well as international planning in terms of business expansion and investments.
  • The report suggests strategies to the Automated Guided Vehicle market participants that to enable them expand in their business in existing or new international markets.
  • The report is the overall outlook of the global Automated Guided Vehicle market economy.
  • The report covers all the topics in the Automated Guided Vehicle market to accurately predict the changes political, economic, and business issues and trends that may drive the market in future.

The composition of the Automated Guided Vehicle report considers the client’s business expertise to identify actual development potential. A strategic model focused on growth is also built by analysts, and it comprises a complete analysis of the path to market, the capabilities that should be developed and utilised, and any potential pitfalls.

Automated Guided Vehicle Market: Segmentation

  • By Vehicle Type :
    • Tow Vehicles
    • Unit Load Carriers
    • Pallet Trucks
    • Assembly Line Vehicles
    • Forklift Trucks
    • Other Types
  • By Navigation Technology :
    • Laser Guidance
    • Magnetic Guidance
    • Inductive Guidance
    • Optical Tape Guidance
    • Vision Guidance
    • Others
  • By Battery :
    • Lead Battery
    • Lithium-Ion Battery
    • Nickel-based Battery
    • Others
  • By Application :
    • Transportation
    • Storage
    • Distribution
    • Assembly
    • Packaging
    • Waste Handling
  • By End-User :
    • Automotive
    • Manufacturing
    • Food & Beverages
    • Aerospace
    • Healthcare
    • Logistics
    • Retail
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

The key business strategies discussed in this market research revolve around-

  • Which are the key business segments in the global Automated Guided Vehicle market?
  • What are the important elements used to study the business intelligence of the market?
  • What is the market value of the dominant firms operating in the Automated Guided Vehicle industry?
  • What are the distribution networks, domestic & international traders, vendors, sellers of the individual segments in the Automated Guided Vehicle industry?
  • What are the entry barriers and expansion barriers globally in the Automated Guided Vehicle industry?
  • What are the trends in the market, growth possibilities, investment risks in the global Automated Guided Vehicle market?
  • What are the prospect opportunities and industry investment chances in the market?

These intricate industry insights are, however, streamlined for the market study’s end customers using tried-and-true methodologies and procedures. Estimates of CAGR values, market drivers, and market restrictions can be used to help businesses pick from a variety of options. A few phases or the combination of several procedures are used to begin the process of developing a market report after consulting a specialist.

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Types of Automated Guided Vehicles (AGVs)

  • There are several types of AGVs, including:
  • Tow vehicles: These AGVs are designed to tow trailers or carts loaded with materials or goods.
  • Unit load vehicles: These AGVs are designed to carry large loads, such as pallets, on a flatbed or platform.
  • Assembly line vehicles: These AGVs are designed to transport materials and products between stations on an assembly line.
  • Pallet trucks: These AGVs are designed to move pallets from one location to another.
  • Forklift trucks: These AGVs are designed to lift and move materials within a facility.

Benefits of Automated Guided Vehicles (AGVs)

  • Increased Efficiency: Automated Guided Vehicles (AGVs) can transport materials quickly and accurately without human intervention, thereby increasing efficiency and reducing downtime.
  • Improved Accuracy: AGVs are equipped with navigation systems that accurately track the vehicle’s position and movements. This eliminates human error and improves accuracy in material handling processes.
  • Increased Safety: AGVs eliminate the need for manual material handling, reducing the risk of workplace accidents and injuries. They are also equipped with safety features such as collision avoidance sensors and automatic stops.
  • Reduced Labor Costs: Automated Guided Vehicles replace manual labor, reducing the need for manual material handling and reducing labor costs.
  • Flexibility: AGVs can be programmed and reprogrammed to adapt to changing production processes, providing greater flexibility in the material handling process.
  • Improved Inventory Management: AGVs can be integrated with inventory management systems, allowing for real-time tracking of materials, improved inventory accuracy, and reduced waste.
  • Reduced Maintenance Costs: AGVs are equipped with sensors and automated systems that reduce the need for manual maintenance, reducing maintenance costs and improving equipment longevity.

Disadvantages for Automated Guided Vehicle

  1. High Initial Cost: Automated Guided Vehicles (AGVs) are often expensive to purchase and install, especially for large-scale operations. This high cost can make them an unviable solution for smaller businesses and organizations.
  2. Complex Maintenance: AGVs require regular maintenance and upkeep, which can be complex and time-consuming. The cost of maintaining the vehicles, especially in the case of breakdowns, can add to the operating costs.
  3. Limited Flexibility: AGVs are designed for specific tasks, and as a result, they may not be able to adapt to changes in production processes or different types of loads. This limited flexibility can make them unsuitable for operations that require frequent changes or that handle a variety of products.
  4. Dependence on Technology: AGVs are heavily reliant on technology, and as a result, they can be impacted by software or hardware failures. This dependence on technology can lead to operational disruptions, particularly in the event of a system malfunction.
  5. Requires a Dedicated Space: AGVs require a dedicated space for operation, which can be a challenge for businesses that are short on floor space. This dedicated space requirement can also increase the overall cost of the system.
  6. Limited Load Capacity: AGVs are typically designed for lighter loads and may not be capable of handling heavy loads. This limitation can make them unsuitable for operations that require the handling of larger products.

Automated Guided Vehicles (AGVs) are an essential component of modern material handling systems. They provide significant benefits to manufacturing and distribution facilities, including increased efficiency, improved safety, increased accuracy, and flexibility. With advances in technology and the increasing need for automation in material handling, AGVs are poised to play an even larger role in the future of material handling.

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