The North America Automated Guided Vehicle Market would witness market growth of 13.2% CAGR during the forecast period (2019-2025). Logistics and warehousing companies are trying to retain their profitability by opting for taller racks, compact layouts, and narrow aisles inside their distribution facilities. Along with this, they are trying to improve the quality of their operations in line with the increasing demand for their services. These organizations are implementing AGV solutions as they can work precisely and efficiently across narrow aisles and compact layouts, and also increase the durability of the storage process. The growing demand for AGVs from logistics and warehousing companies is expected to fuel the growth of the AGV industry.
The increased adoption of AGVs across different industries can be related to the benefits of AGVs in terms of productivity, safety, and accuracy. AGVs are equipped with cameras, laser heads and other sensors that help them operate safely around machines, structures and employees. While workers can make mistakes that lead to accidents and mishaps in manufacturing or distribution facilities, AGVs can help improve the accuracy of workflows, thus reducing waste and increasing productivity.
The rapid growth in e-commerce is contributing to market growth. Due to the growth of online shopping, stock-keeping units (SKUs) are growing in both volume and variety by which fixed automation systems cannot meet the requirements on their own. Flexible automation in the form of robotics is designed to complement traditional automation systems such as conveyor belts. Amazon recognized this necessity when it purchased Kiva, a sensor-equipped robot that follows computerized barcode stickers on the floor to distribute mobile inventory-equipped racks to human operators. The increased requirement for automation in maritime applications is a major driver for the market.
Based on Component, the market is segmented into Hardware, Software and Services. Based on type, the market is segmented into Tow Vehicle, Pallet Truck, Unit Load Carrier, Hybrid Vehicles and Forklift Truck & Others. Based on Navigation Technology, the market is segmented into Laser Guidance, Vision Guidance, Magnetic Guidance, Inductive Guidance and Natural Navigation & Others. Based on Application, the market is segmented into Logistics & Warehousing, Assembly, Packaging, Trailer Loading & Unloading and Raw Material Handling & Others. Based on End User, the market is segmented into Automotive, Manufacturing, Logistics, Food & Beverages, Retail, Healthcare and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Automated Guided Vehicle Market in North America is expected to register a CAGR of 13.2% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Kion Group (Dematic), Toyota Industries Corporation (Bastian Solutions LLC), Daifuku Co., Limited, John Bean Technologies Corporation, Oceaneering International, Inc., Kuka AG (Swisslog Holding), Hyster-Yale Materials Handling, Inc., E&K Automation GmbH, and The Krones Group.
Market Segmentation:
By Component
By Type
By Navigation Technology
By Application
By End User
By Country
Companies Profiled
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