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Global Automated Guided Vehicles Market Growing Gradually As We Head Towards The Age Of Automated Factories

28 Apr 2017
Global AGV Market

The automated guided vehicles market is continuously evolving as the spectrum of its utility has grown wider over the years. The industrial robotics industry has witnessed a boon over the last decade as more and more industries are inclining towards factory automation. The automated guided vehicles have revolutionized the intra-factory tasks, including materials handling and logistics. Materials handling and logistics are both time consuming and labor intensive tasks that cost considerable amount to the companies. To reduce their labor cost and increase efficiency, the companies are adopting automated guided vehicles.

In February 2017, Toyota Industries Corporation announced that the creation of Toyota Advanced Logistics Solutions (TALS) and the divisions acquisition of its first company, leading system integrator Bastian Solutions1. TICO has created TALS as a new business to manage the logistics solutions in North America. As per a report1, “TALS is a response to the changing dynamics in materials handling related to e-commerce, labor cost and productivity requirements.”

One of the key players in the market, Seegrid, recently announced that “one of the largest automotive manufacturers solidified its relationship with Seegrid by purchasing another fleet of vision guided vehicles (VGVs). With this purchase, the automotive manufacturer has more than doubled the number of VGVs being used across its manufacturing facilities compared to the year prior, with an increase of 128 percent.”

With the increased investment towards automated guided vehicles industry, BIS Research has analyzed the automated guided vehicles market and has estimated a robust growth in the market by 2022. According to the analyst at BIS Research, “Factors such as the rising labor cost and demographic decline in developed regions like Europe, have compelled businesses to increasingly rely automation for their sustenance. Therefore, the global automated guided vehicle market is estimated to reach $3,320.41 million in the forecast period.”

BIS Research has compiled a report titled ‘Global Automated Guided Vehicle Market: -Analysis & Forecast, 2016-2022’, in which the global automated guided vehicles market has been explored by major vehicle types, by guidance technology, by application and by industries. The report covers the key development strategies being followed by the key players of the market and the factors which are affecting the same. The report identifies the geographical division of the automated guided vehicles industry and explores the market in different regions vis a vis North America, Europe, Asia Pacific and Rest of the World (RoW).

This report is an extensive study into the driving factors, restraints and opportunities prevailing in the automated guided vehicles industry. It analyses the value chain, competitive market and the key players who are leading the market. According to the report “as of 2015, Europe was the largest market for automated guided vehicles followed by North America and Asia Pacific. However, this trend is set to change by 2022 as the demand from Asian countries is set to increase.” The demand for automated guided vehicles is expected to increase in both developed and developing economies gradually.

References:
1 Modern Material Handling Magazine

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