Automated Guided Vehicle Market Outlook:
Automated Guided Vehicle Market size was over USD 3.23 billion in 2025 and is projected to reach USD 8 billion by 2035, witnessing around 9.5% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of automated guided vehicle is evaluated at USD 3.51 billion.
The increased incidence of injuries and accidents within production and storage facilities is expected to drive growth in the automated guided vehicle market. According to the International Labour Organization, the annual mortality due to work-related accidents and diseases around the globe crossed 3 million in 2023. Over 63% of the total global fatal occupational injuries, 200,000, originated from Agriculture, construction, forestry, fishing, and manufacturing industries. In addition, work accidents caused 2.6 million deaths in the same year. On the other hand, AGVs can reduce fatalities and increase industrial output by improving worker safety and plant security, signifying a continuous surge in this sector.
The increasing popularity of industrial automation is also contributing to the expansion of the automated guided vehicle market. Being a crucial asset for enterprises in enhancing productivity and reducing workforce costs, these tools have become an essential part of this Industry 4 transformation. On this note, the International Federation of Robotics published the World Robotics 2024 Report, which revealed that over 4.2 million robots were operating in factories worldwide, representing a 10% increase from 2023. It also mentioned the annual robotic system installation to surpass 0.5 million in the same year. This showcases the inflation in the adoption rate in this sector
