Automated Guided Vehicle Market | Insights on the Crisis and the Roadmap to Recovery from COVID-19 Pandemic | Technavio
The global automated guided vehicle market to register an incremental growth of USD 1.19 billion, witnessing a CAGR of almost 10% during 2020-2024, according to latest market research analysis by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the automated guided vehicle market in optimistic, probable, and pessimistic forecast scenarios.
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Technavio has announced its latest market research report titled Global Automated Guided Vehicle (AGV) Market 2020-2024 (Graphic: Business Wire)
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The automated guided vehicle market will witness a Negative and Inferior impact during the forecast period owing to the extensive spread of COVID-19 pandemic. Furthermore, as per Technavio's pandemic-focused research highlights, the market growth is likely to Increase compared to 2019.
Automated Guided Vehicle Market 2020-2024: Vendor Analysis
The market is fragmented. Key players in the market have been launching several initiatives and introducing innovative products and services to cater to a larger target audience during the pandemic. With a rapidly shifting focus toward creating a digital marketplace to provide a convenient platform for stakeholders in the supply chain, several companies in the market are resorting to move their businesses online along with existing brick-and-mortar channels.
Major Automated Guided Vehicle market participants are
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Automated Guided Vehicle Market 2020-2024: Segmentation
Automaed Guided Vehicle Market is segmented as below:
Unit load carriers will account for the largest share as they can easily interface with conveyors and automated storage and retrieval systems. Also, unit load carriers are mostly used in warehouses, wherein guided paths are relatively short, and high volumes of materials are involved.
APAC region will account for the highest incremental growth during the forecast period due to the factors such as the growing demand for AGVs from the manufacturing, e-commerce, and automotive industries.
The automated guided vehicle market is driven by rapid growth in e-commerce retail and growing adoption of Industry 4.0, as per Technavio's pandemic impact-focused research study. Furthermore, Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, and significant developments in vendor operations and government regulations in Industrials industry.
For gaining more insights about the impact of COVID-19 pandemic on related reports, check out Technavio's Industrials section
Key Considerations for Market Forecast:
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Table of Contents:
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-User (qualitative)
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