Global Automated Guided Vehicles Market to Reach US$ 7.67 Billion by 2027, Spurred by the Escalating Demand for Automated Warehouse Solutions

November 28, 2022

The latest report by IMARC Group, titled “Automated Guided Vehicles Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global automated guided vehicles market reached US$ 3.18 Billion in 2021. Automated guided vehicles (AGVs) refer to computer-controlled, wheel-based, self-guided material handling systems or load carriers that move along the floor of the facility without an onboard driver or operator. They help move and carry products autonomously across warehouses, distribution centers, or manufacturing facilities. They are operated by following adjustable guidelines with magnetic tape on the floor, wire guide, installed sensors, range-sensing, magnetic-gyroscopic guide, or laser-guided vehicles (LGV), which assist in optimizing transportation while storing and picking items. They also offer various advantages, including low labor costs and product damage, reduced human errors, minimized utility costs, enhanced productivity, and safety. As a result, AGVs are widely utilized across transportation, automotive, manufacturing, aerospace, food and beverages (F&B), logistics, healthcare, and retail industries.

Global Automated Guided Vehicles Market Trends:

The market is primarily driven by the escalating demand for automated warehouse solutions owing to the expanding e-commerce sectors. In addition, the widespread adoption of AGVs in material handling processes across various industries, including healthcare and automotive, is contributing to the market growth. Moreover, the increasing awareness regarding the safety of workers and the growing inclination toward laser-guided AGVs for better precision and flexibility are providing a thrust to the market growth. Besides this, the significant investments in industrial automation projects and the rising usage of AGVs in the food and beverage (F&B) industry on account of their ability to handle palletized and unit loads of goods and packaging materials in the trailer loading, cross-docking, manufacturing, and warehousing environments represents another major growth-inducing factor. Furthermore, extensive research and development (R&D) activities conducted by key players and rapid industrialization are anticipated to propel the market growth in the coming years. Looking forward, IMARC Group expects the market value to reach US$ 7.67 Billion by 2027, exhibiting a CAGR of 14.70% during the forecast period (2022-2027).

Market Summary:

  • Based on the type, the market has been segmented into tow vehicles, unit load carriers, pallet trucks, assembly line vehicles, and forklift trucks.
  • On the basis of the mode of operation, the market has been bifurcated into indoor and outdoor.
  • Based on navigation technology, the market has been divided into laser guidance, magnetic guidance, inductive guidance, optical tape guidance, vision guidance, and others.
  • On the basis of the application, the market has been segregated into transportation, distribution, storage, assembly, packaging, and waste handling.
  • Based on the industry, the market has been classified into automotive, manufacturing, food and beverages (F&B), aerospace, healthcare, logistics, retail, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined in the report, with some of the key players being Bastian Solutions LLC (Toyota Industries Corporation), Daifuku Co. Ltd., Ek Robotics Gmbh, IKV Robot Nanchang Co. Ltd., John Bean Technologies Corporation, Jungheinrich AG, Kion Group AG, KUKA Aktiengesellschaft, Murata Machinery Ltd., Schaefer Systems International Pvt Ltd., Scott Systems International Inc., and Simplex Robotics Pvt. Ltd.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

30 N Gould St, Ste 
Sheridan, WY (Wyoming) 82801 USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Global Automated Guided Vehicles Market to Reach US$ 7.67 Billion by 2027, Spurred by the Escalating Demand for Automated Warehouse Solutions
Select Licence Type

Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More