Rising demand for automation in material handling, enhanced levels of workplace safety, improved productivity and accuracy and reduced utility cost will be the drivers of growth for Automated Guided Vehicles Market in North America: Ken Research
GURUGRAM, India, Aug. 3, 2022 /PRNewswire/ --
Rising demand for automation in material handling: With rise in demand for e-commerce, supply chains started implementing AGVs in distribution centers, enabling industries to operate at high output. Industries like Pharmaceuticals increased their utilization of AGVs to meet the growing demand, while sustaining hygiene. Healthcare providers, like hospitals, used AGVs to conduct contactless transport of meals, waste bins, linens and sterile supplies.
Enhanced concerns around workplace safety: Automated Guided Vehicles (AGV), leveraging sensors, visual indicators, emergency stop buttons, and navigation technology features, ensure that the working environment is safe. These vehicles have sophisticated navigation technologies, starting from wired and magnetic guided routes to laser and vision guided ones.
Improved accuracy and reduced utility expenses: The programmability of AGVs helps reduce waste and saves time while performing tasks accurately and helping improve productivity. AGVs do not require experience or breaks which initially save the anticipated labor cost along with reducing utility cost. These vehicles can operate in every condition that human cannot effectively work on due to the lack of accessibility or lack of safety and presence of health hazards.
Analysts at Ken Research in their latest publication "North America Automated Guided Vehicles Market Outlook and Forecast to 2027 - Driven by Rising Demand for Automation in Material Handling, Enhanced Workplace Safety and Improved Productivity: Ken Research" believe that the Automated Guided Vehicles market is expected to grow on the basis of rapid rise in adoption of these solutions due to their affordability & flexibility to meet varying needs of different industry users.
Key Segments Covered in North America Automated Guided Vehicles Market
Key Target Audience
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The Robotic Arms Market in the Asia Pacific is expected to witness strong growth of more than 15% over the next five years. The use of robotic arms will continue to grow due to the increasing requirement of automation in almost all industries and for being used for most applications from material handling to assembling. The demand and development of technologies such as artificial intelligence and machine learning which support the increase in the number of applications for robotic arms are also going to drive its growth. These applications of automation by robotic arms in various industries are attracting huge investments to the system. Continued investments in research and development by the manufacturers to bring out many advanced robotic arms with sophisticated technology will also continue to drive the growth of the market. However, high capital costs associated with robotic arms do not allow many companies to try and purchase these products, which restrains the market growth.
Frequently Asked Questions:-
What is the Study Period of this Market Report?
The North America Automated Guided Vehicles Market is covered from 2017 – 2027 in this report, which includes a forecast for the period 2022-2027.
What is the Future Growth Rate of North America Automated Guided Vehicles Market?
The North America Automated Guided Vehicles Market is expected to witness a CAGR of nearly 15% over the next 5 years.
What are the Key Factors Driving the North America Automated Guided Vehicles Market?
Rise in demand for automation in material handling, enhanced workplace safety, improved productivity and accuracy, and reduced utility cost are the key factors driving growth.
Which is the Largest Product Segment within the North America Automated Guided Vehicles Market?
Automated Forklifts is the largest product segment within the North America Automated Guided Vehicles Market.
Who are the Key Players in North America Automated Guided Vehicles Market?
Daifuku, John Bean Technologies (JBT), Oceaneering Intl, Toyota Industries Corporation KUKA, Hyster-Yale, Seegrid, Crown Equipment, KION, Mitsubishi Logisnext, Scott, Jungheinrich are the major companies operating in North America Automated Guided Vehicles Market.