Technology News, Search Engine

Technology News & Search Engine

Technology News and Search Engine - Computers and Software,
Internet, Personal and Enterprise Technogy News. Website Builder.
Press release distribution service
Home | Technology News Search Engine:                                     

Home: Technology News:

Automated Guided Vehicle Market Size, Share, Revenue, Trends and Growth Drivers 2028

(IT-NEWSWIRE.COM, August 09, 2023 ) The Automated Guided Vehicle Market is estimated to be valued at USD 2.4 billion in 2023 and is projected to reach USD 3.3 billion by 2028, at a CAGR of 6.9% from 2023 to 2028. AGVs are designed to handle various types of loads and materials. They can be equipped with different load handling mechanisms such as forks, clamps, conveyors, or customized attachments and it can be seamlessly integrated with the existing systems and coordination of multiple vehicles are expected to be significant factors fuelling the market’s growth in the near future.

Download PDF Brochure @

AGVs utilize advanced sensor technologies to perceive their surroundings accurately. This includes technologies like LiDAR (Light Detection and Ranging), 3D cameras, ultrasonic sensors, and radar systems. These sensors offer accurate and timely information about the surroundings, enabling AGVs to move around securely, avoid hazards, and make deft choices. Automated guided vehicle offers several advantages such as, enhanced safety, flexibility, and adaptability, increased efficiency, real-time tracking and cost saving. AGVs are adaptable in a wide range of industries, such as automotive, chemical, aviation, semiconductor and electronics, e-commerce, food & beverage, healthare, metals & heavy machinery, and 3PL.

Tow vehicle segment contributed to the larger market share for automated guided vehicle in 2022. They excel in efficiently moving multiple loads, reducing the need for multiple trips. Tow vehicles are adaptable, capable of handling various load types and integrating seamlessly with existing carts. They are compact, maneuverable, and prioritize operator comfort and safety. With customizable load capacity options, they often run on rechargeable batteries, promoting environmental friendliness. Integration with control systems enables coordinated material transport, while safety features and diagnostic capabilities optimize maintenance.

The Laser Guidance segment is projected to account for the largest market size for automated guided vehicle in 2023. Laser guidance technology provides high precision and accuracy in determining the position and orientation of AGVs. The real-time updates and obstacle detection provided by laser scanners ensure safe and efficient movement. Laser guidance's non-invasive nature simplifies system setup, while its scalability makes it suitable for complex operations involving multiple AGVs.

The automotive industry accounted for the largest share of the automated guided vehicle market in 2022. AGVs are widely employed in the automotive sector due to their efficiency, accuracy, and safety. They streamline material handling, guaranteeing timely delivery of components for just-in-time manufacturing. They operate continuously, optimizing output and integrating with Industry 4.0 technologies. AGVs improve ergonomics and worker safety, minimize damage to delicate automotive parts, and enable traceability and quality control. Key factors such as the growing after-sales spare parts market, increasing levels of customization in vehicles, and the need to ensure the availability of various parts required in the assembly of a vehicle are driving the implementation of AGVs in the automotive industry.

Key Market Players:

Key players in the market are Daifuku (Japan), JBT (US), KION (Germany), Toyota Industries (Japan), KUKA (Germany). These players have a comprehensive and diverse product portfolio and a strong geographic presence. They focus on developing innovative models of AGVs owing to the emergence of new application areas of these robots. These companies also focus on organic and inorganic growth strategies to extend their business reach and expand their product offerings in the highly competitive market. The market is dynamic, and several new players also keep emerging while existing players continue to evolve and expand their footprint.

News Also Covered @

Related Reports:

Automated Material Handling Equipment Market by Product (Robots, ASRS, Conveyors And Sortation Systems, Cranes, WMS, AGV), System Type (Unit Load, Bulk Load), Industry (Automotive, E-Commerce, Food & Beverage) and Region - Global Forecast to 2028

RFID Market Size, Share & Industry Growth Analysis Report by Offering (Tags, Readers, Software & Services), Tag Type (Passive, Active), Wafer Size, Frequency, Form Factor (Card, Implant, Key Fob, Label, Paper Ticket, Band), Material, Application & Region - Global Growth Driver and Industry Forecast to 2030

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.


Mr. Aashish Mehra


Source: EmailWire.Com


Sponsored Links

EmailWire Business Directory
EmailWire Business Directory about Legal, Stocks, Investment, Markets, Stocks

Submit website to Business Directory

Listen to GroupWeb Radio

Technology News Headlines
  • Computer Security
  • Digital Music
  • Digital Video/TV
  • Enterprise
  • Linux/Open Source
  • Microsoft
  • Mobil Phones
  • Internet
  • Personal Technology
  • Portals & Search Engines
  • RSS and Blogging
  • Software
  • Technology News
  • GroupWeb Market Place
    Website Builder - Blog Builder
    Build your website in 5 minutes. One month free. No setup fee! Blog Included.

    Your text Ads here!
    Ads are only $50 per month.Please contac us and state ou want to place advertisement on

    Technology Business Video Feed

    More Technology Video Feeds
  • Computers
  • Computers & Software
  • Home Theater
  • Personal Technology
  • TechBiz
  • TechBytes
  • Technology Publications

    We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including:

    Search Engine Optimization for E-commerce Sites: The Seven Most Common Pitfalls
    Website Magazine
    Business Activity Monitoring: Smart Decisions with Real-time Visibility

    No credit cards, coupons, or promo codes required. Try it today!

    Press release distribution service

    :: Home: :: Submit Press Release :: Subscribe to News :: Contact Us :: Help

    For unlimited press release distribution for $59 per month, call (281) 645-4086 or start posting your press releases online at
    Copyright 2008 GroupWeb Media LLC
    GroupWeb Media Network

    Aviation-NewsWire | ArtNewsWire | Auction NewsWire | CRM NewsWire | ePhotoNewsWire | Energy Industry | EstateNewsWire | | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | i-Homeland Security.Com | iMac-NewsWire.Com | i-Press-Release-Service | | iT-NewsWire.Com
    | i-TravelNewsWire.Com | MoneyNewsWire.Net | Movie-Stars-News.Com | MSNewsWire.Net | PharmaNewsWire.Com | Publishing-NewsWire.Com | RSSNewsWire.Net | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com | VoIPNewsWire.Net | XSportsWorld.Net - a Technology News and Resource of GroupWeb Media LLC