Automated Guided Vehicle Market Segmentation:
Type Segment Analysis
The tow vehicles segment is poised to hold an automated guided vehicle market share of over 40% by the end of 2035. Towing operations are widely implemented across different production lines of heavy industries, such as automotive, highlighting the significance of this segment in revenue generation. In addition, these commodities are becoming indispensable for material transport due to their high load capacity, flexibility, and operational efficacy while being an affordable option. For instance, in June 2023, Dematic introduced a third-generation freezer-rated AVD model. This transport system is equipped with cutting-edge sensors and navigation technology to offer unmatched occupational safety, particularly in cold storage facilities.
Application Segment Analysis
The logistics & warehousing segment is expected to garner a significant share of around 35% in the automated guided vehicle market over the discussed timeframe. The increasing demand for smart warehousing around the world is escalating this segment’s captivity in this sector. With the intensification of online shopping worldwide, the requirement for efficient order fulfillment is rising. According to a study released by IEEE Xplore, in 2023, the 3 per 4 employees in a warehouse had a workload over 100%. AGVs are specifically designed to automate crucial roles, such as picking, packing, and storing, faster and more accurately to reduce this burden. Thus, the paramount speed and high-volume orders, coupled with the deep penetration of AI and robotics in storage facilities, are also a few of the major drivers in this category.
Our in-depth analysis of the global AGV market includes the following segments:
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