Automated Guided Vehicle Market is expected to be estimated at USD 2.16 Billion in 2020 and is expected to expand at a CAGR 11.2% to USD 3.67 Billion by 2026 between the forecast periods of 2021 – 2026.

Automated Guided Vehicle is also known as an autonomous mobile robot (AMR), and it is a portable robot that follows along marked long lines or wires on the floor, or uses radio waves, vision cameras, magnets, or lasers for navigation; these are the main factors that have considerably increased the demand for the Automated Guided Vehicle in the market, thereby driving the huge growth of the Automated Guided Vehicle market in the upcoming years

Market Drivers and Restraints:

The main factors that have considerably increased the demand for the Automated Guided Vehicle in the market is mainly due to the huge rise in the high efficiency in the automotive, healthcare, and also increase in the e-commerce, and food & beverages industries is increasing the demand for automation, Automated Guided Vehicle enabled automation of industrial facilities can help meet the requirements related to material handling capacity, along with reducing production time, lessening the chances of human errors, enhancing safety, ensuring high production volumes, and increasing accuracy and repeatability; these are the main factors that have considerably increased the demand for the Automated Guided Vehicle in the market, thereby driving the huge growth of the Automated Guided Vehicle market in the upcoming years

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The report is segmented as:

Automated Guided Vehicle Market is segmented on the basis of by vehicle type; on the basis of by navigation type; on the basis of by end-user:

* Automated Guided Vehicle Market is segmented on the basis of by vehicle type into Unit load Carrier, Tow vehicle, Forklift Truck, Pallet Truck, Hybrid Vehicles & Others

* Automated Guided Vehicle Market is segmented on the basis of by navigation type into Magnetic Guidance, Laser Guidance, Inductive Guidance, Vision Guidance, Natural Navigation, and Others

* Automated Guided Vehicle Market is segmented on the basis of by end-user into Automotive, Food & Beverage, Electronics & Electrical, Retail, Pharmaceuticals and General Manufacturing

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Geographical Segmentation:

Automated Guided Vehicle Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa and rest of world. Asia Pacific has the dominant share in the Automated Guided Vehicle is due to the rapid growth of automotive, e-commerce, food & beverages, and healthcare industries these are the main factors that have considerably increased the demand for the Automated Guided Vehicle in the Asia Pacific region, followed by Europe, North America, Latin America, and Middle East & Africa will register a slower increase in the Automated Guided Vehicle Market

Impact of COVID-19 on Market

The covid-19 pandemic has impacted the growth of the Automated Guided Vehicle market, The COVID-19 has started in the end of 2019 in Wuhan china; this has affected many industries from different sectors in various countries and also affected the Automated Guided Vehicle market. Covid-19 pandemic has impacted huge on the sales revenue Automated Guided Vehicle market. Due to the government restrictions like lockdown in many countries has stopped the production of products by manufacturing companies, In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of coronavirus are expecting to raise the Automated Guided Vehicle market growth

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