Advanced Automated Guided Vehicle Market: Introduction
- Advanced automated guided vehicles are industrial robots that use various sensing technologies, such as camera, RADAR, LiDAR, and cloud data, to follow a particular path in order to accomplish the task of material handling automatically.
- These vehicles are considered as a revolutionary product for industrial applications and are anticipated to enhance industrial efficiency and output. Adoption of advanced automated guided vehicles is in the nascent stage, and their demand is likely to rise during the forecast period.
Key Drivers of Advanced Automated Guided Vehicle Market
- Rapid industrial expansion across the globe and primarily in developing countries, in order to fulfil the demand for various products in the market, is propelling the demand for automation among industries. Thus adoption of various automated techniques has been increasing in industries, and subsequently, the demand for advanced automated guided vehicles is likely to expand at a notable pace during the forecast period.
- A large number of warehouses are already equipped with automated guide vehicles; however, advanced automated vehicles are integrated with new technologies, which makes them faster, smarter, and more efficient as compared to conventional automated guide vehicles. Therefore, the adoption for advanced automated guide vehicles is likely to increase notably.
- Automation increases the productivity of a plant by eliminating the chances of human errors, and provides a precise estimate for the production as per the time availability, as it works constantly and continuously at a uniform speed.
- Rising popularity of the e-commerce sector has generated a high demand for automated guided vehicles owing to expansion of several warehouses wherein management of various category of products is a key responsibility. Additionally, significant investment is need for expansion and advancement of warehouses, which in turn is likely to fuel the demand for advanced automated guided vehicles.
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Europe to dominate global advanced automated guided vehicle market
- In terms of region, the global advanced automated vehicle market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Europe is a prominent market for advanced automated guided vehicles across the globe owing to the presence of all major manufacturing and material handling sectors in the region. Additionally, high rate of adoption of technology in the region fueled the demand for advanced automated guided vehicles.
- On the other hand, North America and Asia Pacific are other key regions that are likely to adopt advanced automated guided vehicles at a high rate. Presence of adequate manpower among most countries in Asia Pacific is estimated to hinder the adoption of automated guided vehicles; however, rapid industrial expansion in the region and adoption of cost optimization systems are anticipated to fuel the demand for advanced automated guided vehicles in the region.
Key Players Operating in Global Advanced Automated Guided Vehicle Market
The global advanced automated guided vehicle market is well organized; however, it comprises a few leading manufacturers. Key manufacturers operating in the advanced automated guided vehicle market are:
- Navitech Systems
- Toyota Industries
- SSI Schaefer
- E&K Automation
- Murata Machinery
- AGV International
- Addverb Technologies
- America in Motion
- Meiden America
- Denbach Robot
- Uncease Automation
- Scott Automation
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Global Advanced Automated Guided Vehicle Market: Research Scope
Global Advanced Automated Guided Vehicle Market, by Product
- Tow Vehicles
- Unit Load Carriers
- Forklift Trucks
- Assembly Line Vehicles
- Pallet Trucks
Global Advanced Automated Guided Vehicle Market, by Navigation Technology
- Laser Guidance
- Magnetic Guidance
- Inductive Guidance
- Optical Tape Guidance
- Vision Guidance
Global Advanced Automated Guided Vehicle Market, by End-use Industry
- Semiconductors & Electronics
- Metal & Heavy Machinery
- Food & Beverages
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.