Global AGV Market

Automated Guided Vehicles Market To Rise High As More Companies Lean Towards Factory Automation

With the rise in globalization and modernization, change in every aspect of life is visible, whether it is household, professional or industrial sector. The industrial sector has developed rapidly with the onslaught of latest technology and has adopted the same to suit its purpose. Industrial Revolution was a great transition in manufacturing process, cottage industries were replaced by big mechanical and chemical factories. Now is the time of another industrial revolution wherein mechanical work is being automated by installing automated guided vehicles in the factories. Automated guided vehicles are a part of the industrial robotics technology and are used for factory automation and they cover a wide variety of application.

The global industrial sector is competitive, as are other sectors, in today’s world. All the businesses, whether established or nascent, are competing neck and neck to provide quality products to their consumers and have a substantial share in the market. The businesses are now looking forward to automate their production processes, especially different material tasks, as it decreases the labor costs and increases efficiency. Therefore, automated guided vehicle have become a prerequisite for the businesses. The demand for automated guided vehicles has risen across Europe and North America, whereas Asian countries are integrating automated guided vehicles into their production facilities to be at par with the emerging technology market.

Automated guided vehicles (AGVs) have revolutionized the industrial operations by handling intra-logistics function and part of the production process. The integrated AGV system is used by industries for precision which compliments the human cognitive ability and thus, increases efficiency and productivity. Many industries, such as electrical and electronics, aerospace and defense manufacturing, are widely adopting AGVs in their production facilities. The rise in the demand of AGVs can be assigned to factors such as rising labor cost and demographic decline in developed regions like Europe, where businesses are increasingly relying on automation for their sustenance. Therefore, the global automated guided vehicles market is expected to reach $3,320.41 million by 2022.

Automated guided vehicles have been widely used by automotive industry, whether it is their assembly line or the manufacturing process. Now industries like electrical and electronics, pharmaceuticals, food and beverage, plastics and polymer, and logistics and distribution are adopting the automated processes. The automotive industry already uses different types of application of AGVs, vis a vis vision based guidance, natural feature based guidance, robotic hands, etc. These guided technologies in AGV can be installed across multiple production facilities without any hassle.

The automated guided vehicles market is witnessing a growth, in sync with the technological advancement in the robotics industry. Developed and developing countries are looking for methods to cut their labor costs without compromising the quality of their products. The global automated guided vehicles market is set to rise exponentially by 2022, wherein Asia will accommodate for the highest share of growth than the other regions like North America and Europe. BIS Research has done an extensive market research report on ‘Global Automated Guided Vehicles Market’. The market analysis report will provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry. For further queries, please write to us at [email protected] or call us at: +1 650 228 0182.

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