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Automated Guided Vehicle (AGV) Market Analysis By Type (Tow Vehicle, Unit Load Carrier, Pallet Truck, Fork Lift Truck, Others), By Navigation Technology, By Application, By End-Use Industry And Segment Forecasts Till 2024LONDON, Dec. 7, 2016 /PRNewswire/ -- The automated guided vehicle (AGV) market is expected to reach USD 1.5 billion by 2024, according to a new study conducted by Grand View Research, Inc. The growing focus on industrial automation, worldwide, is expected to contribute to the revenue growth. The AGV market is technology-driven and the OEMs are focusing on enhancing the capabilities of their existing products. The natural navigation technology segment is anticipated to show a high potential, owing to its benefits, such as reduced infrastructure costs, as the natural navigation eliminates the need of reflectors and markers. The natural navigation technology segment was valued at over USD 18.4 million in 2015 and is expected to be the key navigation technology segment in the near future. Based on application, the market is segmented into logistics, assembly and packaging. The assembly and packaging application segment is estimated to be a key segment over the next 8 years and is estimated to grow at a CAGR of 6.6% from 2016 to 2024. The retail end-use industry is undergoing a rapid growth phase and is presumed to offer remarkable growth opportunities for the AGV market growth. The retail end-use industry is expected to reach USD 353.6 million by 2024. The Asia Pacific region is estimated to be the key region and the market for AGV in this region was valued at over USD 320.6 million in 2015, and is expected to expand at a CAGR of 7.6% from 2016 to 2024. The regional growth is supported by the increasing manufacturing and logistics activities in the emerging countries such as China and India. For instance, Amazon.com, Inc. has deployed several Kiva AGVs, at its Chinese warehouse, to effectively manage its logistics activities. The key vendors dominating the industry include Swisslog Holding AG, Egemin Automation, Inc., Bastian Solutions, Inc., Daifuku Co., Ltd., Dematic Corp., JBT Corporation, Seegrid Corporation, Toyota Industries Corporation, Hyster-Yale Group, Inc., Baylo, Inc., EK Automation, Kollmorgen, and KMH Systems, Inc. Download the full report: https://www.reportbuyer.com/product/4394745/ About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers http://www.reportbuyer.com For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +44 208 816 85 48 Website: www.reportbuyer.com To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/automated-guided-vehicle-agv-market-analysis-by-type-tow-vehicle-unit-load-carrier-pallet-truck-fork-lift-truck-others-by-navigation-technology-by-application-by-end-use-industry-and-segment-forecasts-till-2024-300375037.html SOURCE ReportBuyer |