Automated guided vehicles are computer controlled load carriers used for material handling, pallet handling, and for warehousing process.
A major factor driving growth of the global automated guided vehicle market is increasing demand from automated systems from various sectors. However, high installation cost is a key restraining factor hampering growth of the global automated guided vehicle market.
The global market is segmented on the basis of type, navigation technology, application, end-use industry, and region. On the basis of type, the global market is segmented into tow vehicle, unit load career, pallet truck, forklift truck, and others. The tow vehicle segment accounts for highest share in the global market.
On the basis of navigation technology, the global market is segmented into laser guidance, magnetic guidance, natural navigation, and vision guided. The vision guided segment is expected to witness highest growth in terms of revenue over the forecast period.
On the basis of application, the global market is segmented into logistics and assembly & packaging. The assembly & packaging segment is expected to witness highest growth in terms of revenue during the forecast period.
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On the basis of end-use industry, the global market is segmented into automotive, manufacturing, food and beverage, aerospace, healthcare, retail, and others. The automotive and manufacturing segments together account for highest revenue share in the global market.
On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounts for highest revenue share in the global market; whereas the market in Europe accounts for second highest position. The market in Asia Pacific is expected to witness highest growth during the next 10 years.
Key players in the global market are Swisslog Holding AG, Daifuku Co. Ltd., Egemin Automation Inc., Bastian Solutions Inc., Toyota Industries Corporation, Dematic Corp., JBT Corporation, Seegrid Corporation, Hyster-Yale Group Inc., Balyo Inc., Kollmorgen, E&K Automation GMBH, and other prominent players.