Automated Guided Vehicles--the Factory Workhorse of Industry 4.0
Market to Grow More Than 20% Annually Through 2025
WELLESLEY, Mass., June 25, 2021 (Newswire.com) - With so many moving components of Industry 4.0—physical machines, software and intelligence developments, advanced smart sensing, the global rise in e-commerce and more—it's helpful to examine just one specific component of Industry 4.0: The automated guided vehicle, or AGV. According to a recent report by BCC Research, Automated Guided Vehicles: Global Market, AGVs are the factory-floor workhorse of new industry and companies are investing in material-handling technology used in manufacturing facilities to help improve operations and serve their customers.
Increasing collaborations and mergers and acquisitions, along with product development and launches, are expected to optimize the environmental and economic advantages by enhancing and utilizing new and innovative ideas and technologies.
- The global automated guided vehicles (AGVs) market should reach $4 billion by 2025 from $1.6 billion in 2020 at a compound annual growth rate (CAGR) of 20.2%.
- The Asia-Pacific market for AGVs is expected to grow from $944.3 million in 2020 to $2.5 billion in 2025 at a CAGR of 21.2%.
- Additional market players: Bastian Solutions, IKV Robot and Amerden Inc.
Explore the full report here: https://www.bccresearch.com/market-research/engineering/automated-guided-vehicles-market.html.
About BCC Research
BCC Research publishes market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering current and emerging industrial and technology sectors. For more information about BCC Research, visit bccresearch.com.
Source: BCC Research