Automated Guided Vehicle (AGV) Market is expected to reach USD 1.5 billion by 2024, according to a new study conducted by Grand View Research, Inc. The growing focus on industrial automation, worldwide, is expected to contribute to the revenue growth.
The manifold advantages offered by AGVs, such as reduction in the operational cost, decrement in the production time, and enhanced workforce safety, are substantially energizing the industry growth prospects. These vehicles offer dynamic design solutions that pertinently replace the conventional conveyor systems and their associated high costs. Innovative technologies, such as laser, vision, and natural guidance, are instrumental in creating a high potential for the automated guided vehicle market growth. AGVs with such advanced wireless navigation technologies help in eliminating the need for expensive retrofitting, which is one of the primary factors behind their adoption.
This escalating demand for material handling equipment is projected to drive the market growth over the forecast period. Firms, operating in the warehouse businesses, are focusing on increasing spending on these vehicles to meet the growing demand for their services and to improve the efficiency of their operations.
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Further key findings from the study suggest:
View blog on Automated Guided Vehicles (AGV) by Grand View Research: http://www.grandviewresearch.com/blog/automated-guided-vehicles-agvs-material-handling-made-easy
Grand View Research has segmented the AGVs market based on type, navigation technology, application, end-use industry, and region:
AGVs Type Outlook (Revenue, USD Million, 2014 - 2024)
AGVs Navigation Technology Outlook (Revenue, USD Million, 2014 - 2024)
AGVs Application Outlook (Revenue, USD Million, 2014 - 2024)
AGVs End-use Industry Outlook (Revenue, USD Million, 2014 - 2024)
AGVs Region Outlook (Revenue, USD Million, 2014 - 2024)
The Middle East and Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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