The global automated guided vehicles (AGV) market size is expected to reach USD 7.3 billion by 2025, according to a new report by Grand View Research, Inc.
AGVs are transforming the way materials can be moved within manufacturing and distribution facilities. In a production environment where several operations are carried out simultaneously, these vehicles can ensure predictable and reliable transfer of raw materials as well as manufactured products from one point to another within the facility, thereby eliminating any potential disruption in production. These vehicles can operate safely around structures, machinery, and employees, as they are equipped with accessories such as camera vision and LiDAR sensors. These can help in detecting junctions, identifying floor signs, and avoiding collisions with obstacles.
Manufacturing plants and warehouses are increasingly deploying material handling equipment for various activities, such as locating stock, picking orders, and moving products and raw materials. Transportation and logistics firms are particularly under pressure to boost the efficiency of their operations in line with growing demand for their services. They are hence heavily investing in such equipment.
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