![]() The COVID-19 pandemic has had a significant impact on the automated guided vehicle market due to government-imposed lockdowns and manufacturing shutdowns, resulting in a lack of available workforce. In November 2021, JBT, a technology solutions provider in the food and beverage sector, acquired Urtasun Technologia Alimentaria, which specializes in providing solutions for fruit and vegetable processing. The persistent need for custom material handling and transport solutions to boost efficiency is driven by rising industrialization. ![]() ![]() The demand for AGVs is predicted to increase in response to the growing trend of automation in industries. The need for industrial equipment is driven by increased productivity and reduced labor costs. Furthermore, high maintenance costs and initial investments pose significant challenges to the automated guided vehicle market.Īutomated guided vehicles find application in several end-use industries such as logistics, automotive, healthcare, manufacturing, food, and beverages. However, the period required to achieve a return on investment (ROI) can be lengthy, making AGVs unsuitable for short-term applications. AGVs in these settings reduce human effort and increase worker safety. The increasing demand for automation in diverse industries and manufacturing facilities serves as a primary driver for the growth of the automated guided vehicle (AGV) market. Additionally, AGVs can be used in healthcare facilities and airports to transport patients or luggage. AGVs find widespread use in manufacturing facilities, warehouses, and distribution centers to move materials and products. Equipped with sensors and navigation systems, AGVs can navigate through a facility or warehouse and transport materials from one location to another. Other factors driving the market include technological advancements in AGVs, safety concerns in factories and warehouses, and the versatility of AGVs in handling material transportation and assembly tasks.Īn automated guided vehicle (AGV) is a mobile robot that performs material handling and transportation tasks without human intervention. The market for AGVs is bolstered by the burgeoning popularity of e-commerce and the increasing demand for automation in material handling across various industries. To Understand More About this Research : Request a Free Sample Report AGVs find applications in transporting raw materials or finished goods, work in progress, or lifting and handling products. Autonomous guided vehicles, automated or self-guided, are driverless vehicles employed for material handling or as load carriers in warehouses, manufacturing facilities, or distribution centers. The global automated guided vehicle (AGV) market was valued at USD 5.78 Billion in 2023 and is expected to grow at a CAGR of 10.3% in the forecast period.
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