Synthetic Leather Market: Footwear Segment by Application Projected to Hold a Substantial
Market Share over the Forecast Period: Global Industry Analysis (2012 - 2016) and
Opportunity Assessment (2017 - 2027)
Emerging and low-income economies are expected to increase their healthcare expenditures
considerably till the year 2020 and the industry will be well-served by the AGV market. In addition
to healthcare, substantial growth in the manufacturing and service sector are a direct result of higher
GDP growth and this will have a positive impact on the spending for automated products benefiting
the global AGV market. Future Market Insights in its upcoming report titled ‘Automated Guided
Vehicle (AGV) Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 –
2027’ has taken a comprehensive look at the prospects that exist in the AGV market for the ten-year
period ending in 2027. The AGV market is expected to record an exponential CAGR of 10.6% for
the decade and be valued at more than US$ 2.5 billion by end 2027.
Navigation Technology – Laser Guidance Segment Dominates the AGV Market : The laser
guidance segment holds more than half the AGV market by navigation technology and is predicted
to retain its share for the foreseeable future. The laser guidance segment is anticipated to be worth
more than half a billion dollars in 2017 alone. The lack of adequate charging facilities is a major
impediment for plug in segments in the AGV market.
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Application – Transportation Key to Success in the AGV Market : A rising demand for effective
material transportation within units is poised to benefit the AGV market. The transportation
segment is projected to gain a massive 420 BPS over the course of the forecast period, largely at the
expense of both storage and distribution in the AGV market. Rapid urbanization and increased
industrial production should create the perfect cocktail for the explosive growth of the AGV market.
Vehicle Type – Focus on Unit Load Carrier Segment in the AGV Market :The unit load carrier
segment is estimated to hold approx. a fourth of the market share in the AGV market throughout the
ten-year study. Even though the pallet truck segment may witness a higher CAGR of 11.8% from
2017-2027, it is not likely to dislodge the unit load carrier segment from it pole position anytime
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End User – Maximum Potential in Automotive, Food & Beverage, and Logistics Sectors : Greater
disposable incomes, demand for different vehicle types coupled with stringent regulatory guidelines
compelling use of industrial materials are responsible for the growth of the AGV market. AGV’s are
able to work in hazardous and harmful conditions further boosting their appeal. The automotive
sector has more than a fourth of the AGV market value share to itself and may rise further in the
Region – Developed Countries Hold a Lion’s Share of the AGV Market : Developed nations in
Europe and North America have the maximum share in the AGV market because the technology is
quite expensive and a number of key players have their base of operation here. Companies are
advised to focus their attention on Western Europe as it is gaining on North America and might even
outpace it at some point in the near future.
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Competition Dashboard : The companies profiled in the AGV market report include JBT
Corporation, Kuka AG, Daifuku Co., Kion Group AG, Omron Adept Technologies, AGVE Group,
Transbotics Corporation, Oceaneering International Inc., Seegrid Corporation, Murata Machinery,
SSI Schaefer, AVT Europe NV, Cassioli Srl, Toyota Industries Corporation, Robotnik, Kollmorgen,
E&K Automation GMBH, BEUMER Group GmbH & Co., Mecalux, and Bastian Solutions.
Major players in the AGV market are recommended to innovate with tougher materials and safety
features to increase the adoption rate of AGV vehicles. Urban industries that are blighted with
safety related issues in their day-to-day operations are the primary target customers. Although
developed countries have the largest share in the AGV market, attempts must be made to raise
awareness of this game-changing technology in emerging economies such as China and India.