Automated Guided Vehicle Market Dynamics, Outlook,
Specifications and Trends Forecasts Till 2024
“The Global Automated Guided Vehicle Market is estimated to develop at a
substantial CAGR for the duration of the prediction period. The market
research report delivers an exceptional means for assessing the market,
emphasizing openings, and backing up the planned and calculated
policymaking.”
The growing trend of industrial automation is anticipated to drive the AGV market
Automated guided vehicles (AGV) are used to transport loads to places where repetitive movements of material
is required with little or no human intervention. In 2015, the AGV market size was valued at USD 810.4 million
and is predicted to expand at CAGR of 7.3% in next seven years. Industries are aiming to achieve high
productivity by minimizing waste in manufacturing process.
High labor cost is primary challenge in industry and consistent increasing labour cost in recent times has forced
manufacturers to undertake decisive solutions in order to stay competitive in market. AGV are unmanned
automated systems that transport all kind of products within warehouse, distribution and logistics environment
that reduce cost and increase profitability and efficiency. Technological advancement in field of robotics has
helped to increase productivity. The high initial set-up cost can act as barrier in industry growth hence,
restricting AGV applications to medium-sized and large enterprise. Average cost of magnetic guided vehicle is
around USD 100,000.
Request Sample Copy of this Market Research @
https://www.millioninsights.com/industry-reports/automated-guided-vehicle-agv-market/request-sample