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The tow vehicle segment captured a sizeable share in the AGV market, accounting for a revenue share of over 41% in 2021, mainly due to the growing requirements for bulk movement of goods into and out of warehouse areas. The AGV market is classified into tow vehicle, parallel truck, unit load carrier, hybrid vehicles, forklift truck, and others, based on vehicle types. AGVs make use of camera-based vision together with Light Detection and Ranging (LiDAR) sensors and computer systems, to create a 3D image of the operational area that helps in the precise manoeuvring of production areas and warehouses.įigure 2: Global Automated Guided Vehicle Market by Navigation in 2021 However, it is anticipated to witness a steady growth during the forecast period, mainly due to their growing deployment in the warehouses and distribution centres. The use of vision guidance technology is currently limited as it happens to be sensitive to light. The technology conceptualizes the area and stores the guide path in the vehicle’s memory which can be easily amended and expanded whenever required. The laser guidance segment dominated the market with a revenue share of over 36% in 2021. The AGV market is classified into laser guidance, magnetic guidance, inductive guidance, vision guidance, natural navigation, and others, based on navigation. Key insights from the Global Automated Guided Vehicle report

The data forecast has been provided for the years between 20.įigure 1: Global Automated Guided Vehicle Market during 2018-2029 in US$ million

The base year is 2021 for the study with historical data between 20. The study offers granular value data from a global, regional, vehicle type, and navigation perspective. The global Automated Guided Vehicle (AGV) market was valued at US$3,872million in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 10.6% between 20, mainly driven by the increasing demand for automation solutions in material handling processes across industries.ĪGVs, that are controlled using software and sensor-based guidance systems, are primarily used to transport products along the floor of a facility.ĪgileIntel’s global AGV market study is a 160 slide report containing in-depth analysis on historical and forecasted spending patterns in the sector.