Global Automated Guided Vehicles Market Set to be Valued Around $5.1 Billion by 2032

Automated Guided Vehicle Market

Inkwood Research predicts the Global Automated Guided Vehicles Market to accelerate with a 7.56% CAGR by 2032, generating around $5103.65 million during the forecast years 2023-2032.

“Browse 56 market data Tables and 48 Figures spread over 180+ Pages, along with an in-depth TOC on the Global Automated Guided Vehicles Market Forecast 2023-2032.”


Automated guided vehicles (AGVs) are vital in streamlining materials movements within manufacturing and distribution facilities. These vehicles ensure a consistent and efficient transfer of goods, mitigating production backlogs in multi-process environments. The global expansion of manufacturing and industrial facilities fuels the growing demand for AGVs, as they find applications in transportation, assembly lines, packaging, raw material handling, logistics, and warehousing. By increasing productivity and efficiency while minimizing human involvement, AGVs enhance industrial processes and reduce accidents.


Growing Demand for Automation in Material Handling Boosts the Market Growth

Industrial businesses, logistics companies, etc., increasingly invest in material handling equipment such as automated storage and retrieval systems. These investments are driven by the desire to enhance efficiency, productivity, and cost-effectiveness. Effective material handling minimizes operational expenses by reducing redundancy, effort, distribution time, and accidents. 

Vision Guidance is set to be the Fastest-Growing Navigational Technology

Vision-guided AGVs offer enhanced flexibility compared to traditional AGVs by utilizing digital mapping for customizable and repeatable guided routes. During setup, AGVs learn routes and actions through operator-driven training. 

A vision guidance system captures the environment using a camera, processes the image for road parameters, and guides AGV navigation. The AGV is equipped with a collision avoidance system, which detects obstacles and prompts the vehicle to slow down or stop until the obstruction is cleared.

Dominating Region: Asia-Pacific

Asia-Pacific experienced significant growth in the Automated Guided Vehicle (AGV) market, driven by expanding economies and the establishment of new manufacturing facilities by global original equipment manufacturers (OEMs). The increased adoption of automation in sectors like food and beverages, pharmaceuticals and healthcare, automotive, and e-commerce.

High competitive rivalry exists among manufacturers who employ value-added sales strategies to gain an edge and maximize profits. They compete globally for market share.

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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, the Middle East, Europe, Asia, and Africa.

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