Enjoy complimentary customisation on priority with our Enterprise License!
The automated guided vehicle (AGV) market size is estimated to grow by USD 1.59 billion at a CAGR of 9.45% between 2023 and 2028. The market is experiencing significant growth, driven by the rapid expansion of e-commerce retail and the increasing applications of AGVs in industries such as refrigerated warehousing and semiconductors. The e-commerce sector's surging demand for efficient and accurate order fulfillment is fueling the adoption of AGVs, which offer automation and flexibility in material handling. In addition, the refrigerated warehousing industry is leveraging AGVs to maintain precise temperature control and optimize inventory management. The semiconductor industry is utilizing AGVs for high-precision material handling and just-in-time manufacturing. Furthermore, the market growth is propelled by the need for efficient data management and analysis, the increasing demand for cloud computing services, and the integration of IoT technologies in logistics and supply chain operations. However, the market faces challenges such as fluctuating prices of raw materials, including batteries and steel, which can impact the cost-effectiveness of AGVs. Despite these challenges, the market is expected to continue its growth trajectory due to its numerous benefits, including increased productivity, reduced labor costs, and improved safety.
_market_size_abstract_2023_v1.jpg.webp?v4.1.20)
To learn more about this report, Download Report Sample
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.