The Latin America, Middle East and Africa Automated Guided Vehicle Market would witness market growth of 15.7% CAGR during the forecast period (2019-2025). AGVs have revolutionized the way in which products can be transported across manufacturing and distribution facilities. In a manufacturing setting, where several activities are carried out concurrently, these vehicles ensure a smooth and efficient transfer of raw materials and manufactured products from one point to another within the plant. The vehicles remove any possible interruption within production. Such vehicles can operate safely around structures, machinery, and employees as they are fitted with devices like camera vision and LiDAR sensors. These integrated devices help to detect junctions, recognize floor signs, and avoid collision with any barrier.
Acceptance of material handling equipment and automation solutions is increasing significantly across a number of industries. The increasing acceptance of AGVs by the automotive industry and the automotive supply industry to shift intermediate products within the facility is projected to drive the growth of the automated guided vehicle market. The manufacturing industry is gradually implementing AGVs in order to save on labor costs. Although AGV will work on a 24x7 basis, the costs associated with the purchase and management of AGV tends to be lower than the costs of salaries and employee benefits.
Based on Component, the market is segmented into Hardware, Software and Services. Based on type, the market is segmented into Tow Vehicle, Pallet Truck, Unit Load Carrier, Hybrid Vehicles and Forklift Truck & Others. Based on Navigation Technology, the market is segmented into Laser Guidance, Vision Guidance, Magnetic Guidance, Inductive Guidance and Natural Navigation & Others. Based on Application, the market is segmented into Logistics & Warehousing, Assembly, Packaging, Trailer Loading & Unloading and Raw Material Handling & Others. Based on End User, the market is segmented into Automotive, Manufacturing, Logistics, Food & Beverages, Retail, Healthcare and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Automated Guided Vehicle Market in LAMEA is expected to register a CAGR of 15.7% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Kion Group (Dematic), Toyota Industries Corporation (Bastian Solutions LLC), Daifuku Co., Limited, John Bean Technologies Corporation, Oceaneering International, Inc., Kuka AG (Swisslog Holding), Hyster-Yale Materials Handling, Inc., E&K Automation GmbH, and The Krones Group.
Market Segmentation:
By Component
By Type
By Navigation Technology
By Application
By End User
By Country
Companies Profiled
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