Advanced Automated Guided Vehicle Market

Advanced Automated Guided Vehicle Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030

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.

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: