Automated Guided Vehicle Market to Reach US$2.3 Bn by 2024, Growing Application in Logistics Environment Boosts Prospects, Noted TMR

ALBANY, New York, June 7, 2019 /PRNewswire/ -- The global automated guided vehicle market features a consolidated vendor landscape as large players have been committed sizable investments with the objective to meet the wide cross-section of demand of end-use industries. Transparency Market Research (TMR) observes that numerous prominent companies are pouring millions of dollars in research and development of cutting-edge robotics technologies for automated guided vehicles that can help businesses take the automation of warehouses to next level. Most manufacturers are focusing on flexibility and safety aspects of robots to get better foothold in the automated guided vehicle market, notes TMR.

Well-entrenched players in the global automated guided vehicle market include Hyster-Yale Materials Handling, JBT Corporation, Oceaneering AGV Systems, Toyota Industries Corporation, and Bastian Solutions LLC.

Planning to Lay Down Future Strategy? Perfect Your Plan with Our Report Brochure here: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=9368

The global automated guided vehicle market stood at US$0.83 Bn in 2015. Garnering a robust CAGR of 12.4% during 2016–2024, the revenues are expected to touch value of US$2.3 Bn by 2024-end. 

Of the various end-use industries, automated guided vehicle is witnessing vast uptake in distribution and logistics applications. These opportunities in the segment are fueled by growing demand for wide range of automated guided vehicles in logistics applications.

On the regional standpoint, Asia Pacific is expected to hold the sway by the end of the assessment period in the automated guided vehicle market. The regional market is anticipated to clock a CAGR of 13.7% during 2016–2024.Growth is supported by strides by automotive manufacturing in key emerging economies. Regional revenues are driven by rising application in manufacturing of automotive parts and accessories.

Want to Know the Obstructions to your company's Growth in Future? Request a PDF Sample here: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=9368 

Advances in Sensor-Based Guidance Systems boost Reliability and Safety in Operations

Growth of the automated guided vehicle market rides on the back of industrial deployment of these robots for movement and handling of goods on factory floor. Automated guided vehicles have been extensively used in the safe movement of palletized and non-palletized loads in diverse range of industries. Sizable portions of the global demand have come from their applications in logistics, distribution, and manufacturing. Growing utilization of automated guided vehicle technologies in trailer loading, raw material handling and transportation, and finished product handling is bolstering revenue gains to the market. They are increasingly complementing the functions of conveyors used on shop floors where high volumes of repetitive tasks are involved.

Over the years, incorporation of sensor-based guidance systems has consistently expanded the applications areas of automated guided vehicle, such as in the automotive, food and beverages, healthcare, and retail industries. In recent years, manufacturers have increasingly stressed on the battery technology used in automated guided vehicles and the sensor networks. Adoption of modern sensory systems has added momentum to the growth of the automated guided vehicles market.

Looking for Exclusive Market Insights from Business Experts? Request a Custom Report here: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=9368 

Rapid Pace of Industrial Automation to help overcome Commercialization Challenges

Increasing focus of safety of workers and the drive for better productivity and accuracy have stimulated end-use industries to integrate automated guided vehicles with warehouse control systems. Demand in the automated guided vehicles has been receiving robust fillip by the reliability of these in inclement weather conditions and in handling hazardous materials.

However, despite the enormous potential the commercialization of automated guided vehicles hasn't been without snags. For one, the high cost of deploying these technologies in warehouses and logistics has been a key dampener to the demand in the automated guided vehicles market. Moreover, conversion of the prototype into product development faces a few hindrances, leading to high pricing for end-use industries.

Want to Know More Such Detailed Insights of "Automated Guided Vehicle Market"? Ask Our Industry Expert: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=9368 

Nevertheless, the wave of industrial automation especially in developing countries will help retain the pace of innovation in the automated guided vehicles market. Moreover, growing awareness among end-use industries of the role of these robots in the profitability of their operations will also offer marked impetus to the market.

The study presented here is based on a report by Transparency Market Research (TMR) titled "Automated Guided Vehicle Market (Type - Forklift AGVs, Load Transfer AGVs, Pallet Trucks, Assembly Line Vehicles, Light Load Transporters, and Tugger AGVs; End-use Industry - Distribution & Logistics, Automotive, Aerospace, Healthcare, Retail, Manufacturing, and Food & Beverage) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024".

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=9368

The Automated Guided Vehicle Market is segmented based on:

Type

• Forklift AGVs
• Load Transfer AGVs
• Pallet Trucks
• Assembly Line Vehicles
• Light Load Transporters
• Tugger AGVs

End-Use Industry

• Distribution & Logistics
• Automotive
• Aerospace
• Healthcare
• Retail
• Manufacturing
• Food & Beverage

Geography 

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Browse More Automotive & Transport Market Research Reports

Popular Research Reports by TMR:

• Articulated Bus Market - https://www.transparencymarketresearch.com/articulated-bus-market.html
• Autonomous Forklift Market - https://www.transparencymarketresearch.com/autonomous-forklift-market.html
• Flying Taxi Market - https://www.transparencymarketresearch.com/flying-taxi-market.html
• Automated Manual Transmission (AMT) Market - https://www.transparencymarketresearch.com/automated-manual-transmission-market.html 

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact:
Mr. Rohit Bhisey
Transparency Market Research
State Tower
90 State Street
Suite 700
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
Research Blog: http://www.europlat.org/

Logo: https://mma.prnewswire.com/media/664869/Transparency_Market_Research_Logo.jpg

SOURCE Transparency Market Research