DUBLIN, Feb. 16, 2023 /PRNewswire/ — The “Automated Guided Cart Market – Global Outlook and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The automated guided cart market by revenue is expected to grow at a CAGR of 10.12% from 2022 to 2028.
AGCs are gaining prominence in various end-user segments as they reduce damage to inventory and worker requirements. They also make the production scheduling highly flexible, thereby propelling the sales of AGCs in the market. AGCs offer safety in the movement of loads because these comprise automatic obstacle detection bumpers and move on a path with accurately controlled deceleration and acceleration.
Further, rapid industrialization and increasing applications in the aerospace and retail sectors are primarily driving the automated guided cart market. In addition, there is an increase in the consumption of automated guided carts owing to the increasing industrial sector. The manufacturing industries also focus on adopting new technologies and equipment to reduce labor costs, increase efficiency, and curtail transportation time.
Market Trends and Drivers
Industry 4.0 Promoting Industrial Automation
Recently, the industry has experienced the rise of connected technology throughout the manufacturing and distribution value chain. Industry 4.0 promotes a combination of digital and physical systems.
It has transformed product design, planning, supply chain, and production by introducing the concept of connected systems. Connecting technologies in distribution centers with automated guided carts has propelled productivity to the next level. The automated guided cart market has greatly improved productivity by automating the material handling process.
New-generation automated guided carts are smart and capable of working with humans. Technologies such as computer vision augmented reality (AR), low-cost sensors, wearables, Internet of Things (IoT), robotic prehensility, human-robot safety, analytics, and high-performance computing have reduced wastage and increased productivity.
Growing Automation in Material Handling
E-commerce, mass personalization, easy connectivity everywhere, and urbanization are a few factors expected to reshape the landscaping business in logistics and manufacturing material handling systems and equipment.
Supply chains across industries for distributors and manufacturers face challenges across multichannel fulfillment, increased analytics, talent shortages, and the usage of newer technologies such as machine-to-machine (M2M), robotics, augmented reality, and wireless systems.
Administrative, manufacturing, and design automation are the key steps for flexible manufacturing processes. AGCs and industrial robots are gaining prominence in automated material handling processes.
The automated guided cart is widely used for material handling, retrieval, and storage systems, enabling easy transport of materials from unloading and loading stations. Hence, the automated guided cart market is widely adopted for designing flexible product flows to guarantee larger delivery of parts in integrated solutions.
Industry Restraints
Low Labor Cost in Emerging Countries
Labor cost has always been a key component that dictates the operational cost of manufacturing a product. The slowdown was due to weak global demand and low inflation in developed countries.
This also caused currency depreciation in large developing economies. Manufacturers usually prefer to opt for automated guided carts in developed countries due to the high labor costs. However, emerging countries are facing the opposite situation where cheap labor prevents the adoption of automated guide carts since they are expensive and have a longer payback period.
Hence, with higher labor costs, vendors will likely opt for automated solutions in warehouses to perform various tasks. However, low labor costs in developing countries are expected to restrain the overall automated guided cart market growth during the forecast period.
Competitive Landscape
The global automated guided cart market is highly concentrated, with many local and international players. The competition among these players is intense, and rapidly changing technological scenarios could adversely affect vendors as customers expect continual innovations and upgrades in the AGCs domain. Some global automated guided cart market vendors are Fori Automation, Toyota Industries, America in Motion, Oceaneering, IDC Corporation, Savant Automation, Eurogroep, and others.
The manufacturers emphasize identifying the different market opportunities, setting certain goals to achieve productivity, and efficiently using capital resources. The present scenario forces vendors to alter and refine their unique value proposition to achieve a strong automated guided cart market presence.
The manufacturers are offering and expanding the product line-up in their business segments with the launch of various innovative techniques, thereby gaining an edge over their competitors. Key competitive factors in the automated guided cart include reliability and quality, product innovation, product support, pricing, warranty, distribution, financing options, and shelf space.
Company Profiles
- Eurogroep
- Fetch Robotics
- Fori Automation
- Savant Automation
- SCOTT
- Simplex Robotics AGCs
- America in Motion
- Oceaneering
- IDC Corporation
- Toyota
- Morello
- Wolter
- Motion Control Robotics
- ADVANCED Motion Controls
- OCC Systems
- Track Systems
- Jtech Industries
- Corecon
Key Questions Answered:
- How big is the automated guided cart market?
- What is the growth rate of the automated guided cart market?
- What are the key trends in the automated guided cart market?
- What is the expected number of shipments to be reached in the global automated guided cart market by 2028?
- Which companies are discussed in the global automated guided cart market report?
- Which region dominates the global automated guided cart market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.4 Market Segments
4.4.1 Market Segmentation by Type
4.4.2 Market Segmentation by Navigation
4.4.3 Market Segmentation by Load Capacity
4.4.4 Market Segmentation by Application
4.4.5 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Premium Insights
6.1 Market Overview
6.2 Market Dynamics: Key Trends, Drivers, and Restraints
6.2.1 Market Trends
6.2.2 Market Drivers
6.2.3 Market Restraints
6.3 Segment Analysis
6.4 Geographical Analysis
6.5 Competitive Landscape
6.6 About the Report
7 Market at a Glance
8 Introduction
8.1 Overview
8.2 Agcs in Logistics
8.3 Operations of Agcs
8.4 Batteries Used in Agcs
8.5 Value Chain Analysis
8.5.1 Raw Material and Component Suppliers
8.5.2 Manufacturers
8.5.3 Dealers/Distributors/Retailers
8.5.4 End-Users
9 Market Opportunities & Trends
9.1 Industry 4.0 Promoting Industrial Automation
9.2 Growing Adoption of Artificial Intelligence (Ai)
9.3 Increasing Adoption of Agcs by Smes
10 Market Growth Enablers
10.1 Rising Automation in Material Handling
10.2 Implementation of High Safety Standards at Workplaces
10.3 Increasing Demand for Higher Productivity & Flexibility in Production
11 Market Restraints
11.1 Growing Popularity of Self-Driving Vehicles (Sdvs)
11.2 Low Labor Costs in Emerging Countries
11.3 Volatility in Raw Material Prices
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
12.3.1 Threat of New Entrants
12.3.2 Bargaining Power of Suppliers
12.3.3 Bargaining Power of Buyers
12.3.4 Threat of Substitutes
12.3.5 Competitive Rivalry
13 Type
13.1 Market Snapshot & Growth Engine (Revenue)
13.2 Market Snapshot & Growth Engine (Units)
13.3 Market Overview
13.4 Pin Hook Agcs
13.4.1 Market Size & Forecast
13.4.2 Market by Geography (Revenue)
13.4.3 Market by Geography (Units)
13.5 Lifting Device Agcs
13.5.1 Market Size & Forecast
13.5.2 Market by Geography (Revenue)
13.5.3 Market by Geography (Units)
14 Navigation
14.1 Market Snapshot & Growth Engine (Revenue)
14.2 Market Snapshot & Growth Engine (Units)
14.3 Market Overview
14.4 Magnetic Guidance
14.4.1 Market Size & Forecast
14.4.2 Market by Geography (Revenue)
14.4.3 Market by Geography (Units)
14.5 Laser Guidance
14.5.1 Market Size & Forecast
14.5.2 Market by Geography (Revenue)
14.5.3 Market by Geography (Units)
14.6 Natural Guidance
14.6.1 Market Size & Forecast
14.6.2 Market by Geography (Revenue)
14.6.3 Market by Geography (Units)
14.7 Optical Guidance
14.7.1 Market Size & Forecast
14.7.2 Market by Geography (Revenue)
14.7.3 Market by Geography (Units)
14.8 Others
14.8.1 Market Size & Forecast
14.8.2 Market by Geography (Revenue)
14.8.3 Market by Geography (Units)
15 Load Capacity
15.1 Market Snapshot & Growth Engine (Revenue)
15.2 Market Snapshot & Growth Engine (Units)
15.3 Market Overview
15.4 Up to 0.5 Tons
15.4.1 Market Size & Forecast
15.4.2 Market by Geography (Revenue)
15.4.3 Market by Geography (Units)
15.5 0.5-3 Tons
15.5.1 Market Size & Forecast
15.5.2 Market by Geography (Revenue)
15.5.3 Market by Geography (Units)
15.6 Above 3 Tons
15.6.1 Market Size & Forecast
15.6.2 Market by Geography (Revenue)
15.6.3 Market by Geography (Units)
16 Application
16.1 Market Snapshot & Growth Engine (Revenue)
16.2 Market Snapshot & Growth Engine (Units)
16.3 Market Overview
16.4 Warehouse & Logistics
16.4.1 Market Size & Forecast
16.4.2 Market by Geography (Revenue)
16.4.3 Market by Geography (Units)
16.5 Automotive
16.5.1 Market Size & Forecast
16.5.2 Market by Geography (Revenue)
16.5.3 Market by Geography (Units)
16.6 Food & Beverage
16.6.1 Market Size & Forecast
16.6.2 Market by Geography (Revenue)
16.6.3 Market by Geography (Units)
16.7 Healthcare
16.7.1 Market Size & Forecast
16.7.2 Market by Geography (Revenue)
16.7.3 Market by Geography (Units)
16.8 Aerospace
16.8.1 Market Size & Forecast
16.8.2 Market by Geography (Revenue)
16.8.3 Market by Geography (Units)
16.9 Others
16.9.1 Market Size & Forecast
16.9.2 Market by Geography (Revenue)
16.9.3 Market by Geography (Units)
17 Geography
18 APAC
19 Europe
20 North America
21 Latin America
22 Middle East & Africa
23 Competitive Landscape
24 Company Profiles
25 Report Summary
26 Quantitative Summary
27 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/2cklpl-guided?w=5
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: http://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
