Automated Guided Vehicle Market Growth Drivers and Challenges:
Growth Drivers
- Industrial integration of data-driven solutions: Technology developments such as AI and machine learning (ML) have showcased the ability to enhance financial output and efficiency in past years. Thus, it is evident that more manufacturers are willing to invest in the automated guided vehicle market. Testifying this fact, the German Electrical and Electronic Manufacturers’ Association reported that the global expenditure on cognitive and AI-powered systems obtained USD 77.6 billion in 2022. AI & ML showed the potential to create an additional value of USD 2 trillion in manufacturing and supply chain planning in 2020. It also predicted the economic contribution of this technology to the manufacturing industry to reach USD 27.0 billion by 2027.
- Rapid expansion in online business: As the roadmap of digitalizing business processes consists of e-commerce platforms, the demand for efficient fulfillment centers and smart warehouses is rising. For instance, in 2021, the value of global e-commerce sales accounted for USD 25 trillion across 43 developed and developing countries, which reached USD 27.0 trillion in 2022 (United Nations). Thus, the boom in this industry in recent years is pushing companies to seek solutions to streamline their inventory management and order picking, magnifying investments in the automated guided vehicle market.
Challenges
- Exorbitant cost of AGV installation and upkeep: Increasing concern about notable initial investments is one of the main reasons that may hinder growth in the automated guided vehicle market. The upfront costs for associated hardware, software, and integration are significantly high, which often deters the overall production or warehousing budget of small and medium-sized enterprises (SMEs). In addition, the complex and time-consuming layouts of the AGV ecosystem require skilled operators, causing additional expenses. Moreover, these factors accumulatively create an economic barrier to wide adoption and implementation.
Automated Guided Vehicle Market Size and Forecast:
|
Base Year |
2025 |
|
Forecast Period |
2026-2035 |
|
CAGR |
9.5% |
|
Base Year Market Size (2025) |
USD 3.23 billion |
|
Forecast Year Market Size (2035) |
USD 8 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2026, the industry size of automated guided vehicle is evaluated at USD 3.51 billion.
The global automated guided vehicle market size was worth more than USD 3.23 billion in 2025 and is poised to witness a CAGR of over 9.5%, crossing USD 8 billion revenue by 2035.
Asia Pacific automated guided vehicle market will hold around 32% share, expected to expand by 2035, driven by rising e-commerce and manufacturing activities increasing workplace automation needs.
Key players in the market include Swisslog Holding AG, SEEGRID Corporation, Hyster-Yale Materials Handling, Inc., Bastian Solutions, Inc., ELETTRIC80 S.P.A., Fetch Robotics, Inc., Hit Robot Group, EK Robotics, Seegrid Corporation, KUKA AG, Murata Machinery Ltd.
