Automated guided vehicle (AGV) is an automated transport system for safe transport of all material and products without any human restriction to adopt the increasing essential of automation in material handling. Enhanced safety standards at workplaces and mounting requirement for automation in material handling throughout industries are some of the factors driving the growth of the global automated guided vehicle market.

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On the basis of navigation technology the market is subdivided into vision guidance, laser guidance, optical tape guidance, magnetic guidance, inductive guidance and others. Of all the navigation technologies, the vision guidance technology is expected to grow at the fastest rate in the market due to its ability to decrease downtime, lessen infrastructure cost and mounting manufacture and implementation of vision-guided vehicles and mobile robots.

On the basis of industry, the market is subdivided into logistics, aerospace, automotive, healthcare, manufacturing, retail, food & beverage and others. Among the all industries, the automotive industry accounted the largest share in the automated guided vehicle market due to improving automotive manufacturing operations, effectual, and efficient processes and escalating usage of the assembly line AGVs for auto parts fabrication, transmission assembly lines and engine.

Enhanced safety standards at workplaces, mounting requirement for automation in material handling throughout industries, free from human error, and mounting production owing to enhanced supply chain processes and are the primary growth drivers for automated guided vehicle market.

Europe is the largest automated guided vehicle market due to competitive verge by easing the effectual management of overall warehousing operations.

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Asia-Pacific is observed to witness fastest growth in the market due to rapidly budding e-commerce industry, In addition, several strategic installations of AVGs in India and China, need to ensure safety at workplace, mounting investment in automation sector and growing manufacturing sector are also some of the factors driving ample opportunities for the Asia-Pacific automated guided vehicle market.

Daifuku, Kuka, KION Group, Hyster-Yale Materials Handling, JBT Corporation, Seegrid Corporation, SSI Schafer, Toyota Industries, EK Automation and Kollmorgen are the key players offering automated guided vehicle.

Source: VynZ Research