Automated Guided Vehicle Market: Structure and Overview of Key Market Forces Propelling Market

Transparency Market Research (TMR) observes the global automated guided vehicle market has a highly consolidated vendor landscape. There is heavy investment by the major companies for product innovation to cater to the complex demands from consumers. Some of the leading players operating in the global automated guided vehicle market are Toyota Industries Corporation, Bastian Solutions LLC, JBT Corporation, Oceaneering AVG Systems, and Hyster-Yale Materials Handling. These companies are focusing on research and development activities for introducing new and advanced products.

A report by TMR estimates the global automated guided vehicle market was valued at US$0.83 bn in 2015. It expects the market to achieve a value of US$2.3 bn by 2024 by expanding at a CAGR of 12.4% over the forecast period.

Based on the type, the tugger AGVs segment dominated the automated guided vehicles market with the largest share in 2015 and is expected to remain dominant in the upcoming years. Based on region, Europe dominated the market in the same year followed by North America. Both the regions are expected to account for the leading share of 60% collectively by the end of the forecast period.

Automated Guided Vehicles See Uptake Because of Safety they Offer

The automated guided vehicles (AGVs) can improve warehousing efficiency and logistics management. Deployment of AGVs for material handling tasks can allow companies to save labor costs, which enhances customer satisfaction. These vehicles are equipped with numerous accessories and devices including the smart sensors, which aid in improving efficiency and thus reducing costs. These features offer several benefits for lowering the operating costs in the industrial area, which are propelling the growth of the global automated guided vehicles market.

Get PDF Brochure for Research Insights at: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=9368

The AGVs are capable of working in secure environment and works smoothly in operation, which lowers the risks of accidents and ensures the workforce safety. This is propelling adoption of AGVs and likely to impel the growth of the automated guided vehicles market. Additionally, it uses the lithium batteries than conventional batteries which improve performance; thus, the AGVs are witnessing high adoption and likely to propel growth of the market.

Time Consuming Manufacturing Process to Hinder Market Growth

Despite these growth possibilities, the requirement of a long time for developing the AGVs may limit the growth of the automated guided vehicles market. Additionally, the entire process of converting AVG into vehicle takes time and is expected to restrain growth of the market. Furthermore, growing commercialization is leading to increasing the price of final products, which is restraining the growth of the automated guided vehicles market. Nonetheless, several initiatives by private and public organizations for maintaining a working environment is leading to improve the popularity of automation is expected to offer several opportunities for the growth of the global automated guided vehicles market.

This information is encompassed in the new report by TMR, titled “Automated Guided Vehicle Market (Type – Forklift AGVs, Load Transfer AGVs, Pallet Trucks, Assembly Line Vehicles, Light Load Transporters, and Tugger AGVs; End-use Industry – Distribution & Logistics, Automotive, Aerospace, Healthcare, Retail, Manufacturing, and Food & Beverage) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”

Internet of Things Testing Market: Latest Trends and Forecast Analysis up to 2025

The Internet of things (IoT) represents a giant network of interconnected devices or things that are embedded in the existing internet infrastructure. These things can include a variety of objects such as electronics devices, vehicles, equipment, sensors, and consumer appliances. The concept may signify the sharing of data and information with people and animals connected to the infrastructure in near-real time. The proliferation of connected devices and the soaring popularity of IoT among enterprises in developed and developing nations have led to the pressing need for Internet of Things testing mechanisms. Developing an effective IoT testing mechanism foregrounds evaluating key aspects such as compatibility and usability of the interconnected devices, security of the network, the connectivity, and overall performance of the system. Furthermore, enterprises implementing IoT should take into account the integration of new devices and technologies with the existing network. A number

Low Power Display Market: Projection of Each Major Segment over the Forecast Period 2017 - 2025

Low power display technology is treated separately from our modern world. High resolution displays with low power are considered by many consumers to represent the low power display technology. The development in optoelectronics and nanotechnology has changed the low power display market . The low power display market consumes of less power than plasma technologies and cathode ray tube (CRT). Low-power features have become essential for liquid crystal displays (LCDs) due to environmental concerns. The technology that saves energy by decreasing the power consumption of the backlight unit in a display panel is considered in in low power display technology. A low refresh-rate technology was introduced in order to further minimize power consumption in the display panel. The low refresh-rate was achieved by employing oxide thin-film transistors (Ox-TFTs) with extremely low leakage currents. However, flicker may be visible due to the current leakage through the liquid crystal (LC

Noise Suppression Components Market: Granular View of The Market from Various End-Use Segments

Noise suppression refers to the methods of reducing and eliminating the effects of unwanted and undesirable sound effects and electrical disturbances which occurs when the level of signal carrier is greater than the noise level. Noise causes intrusion in many electrical devices. However, there are rules to suppress noise, because noise which does not affect a particular electrical device may affect some other electrical device. Further, an electronic device is known as ‘emission’ if it is itself the source of unwanted noise and it is referred to as immunity if the concerned electronic device is the victim of unwanted noise. Electromagnetic interference (EMI) and electromagnetic compatibility (EMC) has made the issue of noise suppression important. Some of the examples of noise suppression components are electromagnetic interference suppression filter which is an electronic component which provides electromagnetic noise suppression techniques for electronic goods. The function of the e

Research Blogs

Search This Blog