The global AGV market was valued at almost USD 2 billion in 2016 and is expected to reach around USD 3 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global AGV market, under its warehouse and storage portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Vanderlande Industries, SSI Schaefer, Dematic, and Daifuku.
According to Sharan Raj, a lead analyst for warehouse and storage research at Technavio, “The increasing adoption of automated systems throughout their supply chain by various end-user segments is propelling the adoption of AGVs. Some of the most advanced automation systems include baggage transport systems in airports, automated storage systems in warehouses, and automated dispatching systems.”
AGVs enable end-users to reduce costs by providing operational efficiency and improving the order-to-delivery cycle. Industry segments such as power, mining, and manufacturing are highly dependent on AGV for production, storage, and distribution of materials.
Click here to request a free sample of this report
Cloud robotics and other growing trends in robotic systems
Fueled by the emergence of big data, analytics, and cloud, robotics is gaining more traction in the global market. R&D is being carried out on cloud robotics to enable the exchange information with other robots and collect data on a real-time basis, process them for a better output, and maintain warehouses with latest updates. Increasing developments in the field are also attracting venture capitalists toward robotics-based start-ups.
Increase in adoption of automated systems in manufacturing functions
Labor safety, lack of skilled labor, and replacing aged workforce is fueling the adoption of the manufacturing process and other industries. Automated machines can work in hazardous working environment avoiding fatal accidents. In addition, labor accidents can also be reduced by using more AGVs. The level of connectivity brought about through the adoption of AGVs can also improve workflow optimization, operational efficiency, and real-time data related to operations to detect and rectify any malfunction.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global AGV Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Food and Beverage Warehousing Market 2017-2021
- Global Automated Material Handling Equipment Market 2017-2021
- Warehouse and Storage Market in China 2016-2020
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