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Automated Guided Vehicle Market Size to Touch USD 3.39 Billion, at a 7.50% CAGR from 2022 to 2030 – Report by Market Research Future (MRFR)

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New York, US, June 12, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Automated Guided Vehicle Market Information by Vehicle Type, Navigation Technology, Application, End-Use Industry, Component & Battery Type, and Region – Forecast till 2030″, The automated guided vehicle market will be valued at nearly USD 3.39 billion by 2030, expanding at a rate of 7.50% from 2022 to 2030

Automated Guided Vehicle Market Overview

In the absence of an established conveying system or manual assistance, automated guided vehicle (AGV) systems help move and transport things in industrial facilities, warehouses, and distribution centers. It uses programmable guide pathways to optimize storage, picking, and transport operations in a setting with premium square footage. AGVs are widely used because of their numerous advantages, including lower labor costs, less product damage, higher productivity, and scale to assist automated operations. These significant benefits drive logistics and transportation companies to use AGVs to increase the effectiveness of their operations.


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Automated Guided Vehicle Market Competitive Landscape:

The renowned companies in the market for automated guided vehicles include

  • Swisslog Holding AG
  • Dematic
  • Bastian Solutions Inc
  • Daifuku Co. Ltd.
  • JBT
  • Seegrid Corporation
  • TOYOTA INDUSTRIES CORPORATION
  • Among others.

Automated Guided Vehicle Market USP Covered:

Market Drivers:

The adoption of automated material handling operations with the aid of developments like Big Data, machine learning, and others has been made possible by the material handling process’ enhanced technology. This has allowed industries to connect their factories. They are able to have more adaptable manufacturing procedures, greater quality assurance, and better labor management as a result. Automated material handling systems are becoming more prevalent as the e-commerce industry expands globally. Automation of the material handling process is a priority for companies like Amazon, Walmart, Alibaba, and others as a way to reduce operating expenses and increase inventory levels.

Given the overall demand for high efficiency, automation is also becoming increasingly more in demand in the food and beverage, healthcare, e-commerce, and automotive sectors. Additionally, AGV-enabled industrial facility automation may help meet material handling capacity needs while also reducing production time, lowering the possibility of human error, improving safety, ensuring high production volumes, and raising precision and repeatability. Thus, by lowering labor costs in a variety of ways, these systems help warehouses save money over the long term, which in turn increases the market share for autonomous guided vehicles worldwide.

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Market Opportunities

By incorporating Industry 4.0 concepts, conventional industrial facilities are increasingly evolving into intelligent, networked, and highly automated facilities. Additionally, because Industry 4.0 is a single automated unit that combines computers, industrial automation systems, and robotics, it has the power to transform a production facility into a self-contained operation. A network of interconnected devices forms a smart architecture that is capable of making decentralised decisions. Additionally, the rise of Industry 4.0 is changing how warehouses run, and Industry 4.0 also aims to create a productive workplace where humans and robots can work together effectively.

Additionally, the combination of robots with Industry 4.0 would transform operations into an industrial setting with improved automation system coordination. 

Market Restraints: 

AGV adoption may be hampered among smaller industries because they are forced to use conventional/manual forklift trucks since they are unable to afford automated solutions.

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Report Scope:

Report Metrics Details
Market Size 2030 2030: USD 3.39 billion
CAGR during 2022-2030 7.50% CAGR
Base Year 2021
Forecast 2022-2030
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Vehicle Type, Navigation Technology, Application, End-Use Industry, Component & Battery Type
Key Market Opportunities Growing adoption of industrial automation by SMEs
Key Market Dynamics Rising focus on improving workplace safety

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Automated Guided Vehicle Market COVID 19 Analysis

Due to a production gap brought on by lockdowns that have been implemented globally to block the virus’ spread, several firms have suffered or are now facing losses. The COVID-19 epidemic caused a large decline in wages and income for the manufacturing sector. The workforce has been drastically reduced in business operations, which has led to a general decline in manufacturing activity. Small and medium-sized businesses (SMEs) were most negatively impacted by large layoffs, financial challenges, and attrition.

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AGV deployment and industrial automation also played a crucial role in protecting businesses and enabling them to meet their production targets during this period of turmoil. Due of the epidemic, businesses in this sector have been given various opportunities to grow.

Nevertheless, as a result of widespread immunization in many countries, business operations are expanding. As the state of the world economy improved and the demand for industrial goods increased, this market was anticipated to expand quickly in 2021. The new normal has forced several industries to change how they operate, including healthcare, e-commerce, and food and beverage.

Automated Guided Vehicle Market Segmentation

Market by Vehicle Type

Two vehicles, unit load carriers, pallet trucks, forklift trucks, and hybrid vehicles are the key types of automated guided vehicles in the market. Under the category of unit load carriers, the autonomous guided vehicle market’s growth was noticeably strong in 2021. 

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Market By Navigation Technology

Laser, magnetic, vision, inductive, natural navigation, and others are the navigation technologies that make up the segments of the worldwide autonomous guided vehicle market. In 2021, the vision market accounted for a sizeable portion. 

Market By Application

The logistics and warehousing, transportation, cold storage, wholesale & distribution, cross-docking, packaging, assembly, trailer loading and unloading, raw material handling, and other segments of the worldwide automated guided vehicle market have been listed in the report, with respect to the application. 

Automated Guided Vehicle Market By End-Use Industry

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The end-users of automated guided vehicles are manufacturing industry, automotive, aerospace, electronics, chemical, pharmaceutical, plastics, defence, FMCG, tissue, and other end-use industries based on these industries’ end-uses. 

Automated Guided Vehicle Market By Component

Hardware, software, and services make up the three segments of the worldwide automated guided vehicle market according to the component. In 2021, the hardware market accounted for a sizeable portion. The fact that these vehicles have a variety of hardware options, including cobots, material handling equipment, gearheads, and actuators, among others, has been credited with the largest market share for hardware.

Automated Guided Vehicle Market By Battery Type

Lead, lithium-ion, nickel-based, and other battery types make up the majority of the global market for automated guided vehicles. In 2021, the lead battery market accounted for a sizeable portion. When compared to other battery types, these batteries are less expensive. Additionally, it is suitable for a wide range of applications thanks to its extended service life, consistent voltage, and good reversibility.

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Automated Guided Vehicle Market Regional Insights

In response to the mounting demand for material handling equipment among established businesses in the industrial sector, Europe held the largest market share in 2021. Additionally, automation in all industries has sped up market progress in this area. As an illustration, PUMA SE announced in January 2022 that it will use more automated robots outfitted with grippers, cameras, and artificial intelligence. The distribution centre’s assembly of shoes and clothing would be helped by more robots, which would increase output while reducing labor costs.

In 2021, the fastest growth rate of the market was predicted to be experienced in Asia-Pacific. In the Asia Pacific area, e-commerce has grown significantly in growing economies like China and India. For instance, Shenzhen Casun Intelligent Robot Co., Ltd., a producer of automation equipment, unveiled the “tiny giant” CASUN Intelligent Robot in October 2021. The AGV can operate both inside and outside the warehouse thanks to the self-deployed intelligent control of the CASUN, completing the loading and unloading chores for a variety of industries.

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Automotive Industry Research Report Information by Vehicle Type, Commercial Vehicle, By Propulsion Type, And by Region- Forecast Till 2030

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024

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HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.

Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Artificial Intelligence

Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=177013645
Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports: 
Drone Sensor Market Size, Share, Industry Growth & Trends by Sensor Type, Platform (VTOL Type, Fixed Wing Type, Hybrid Type), Application (Navigation, Collision Detection & Avoidance, Data Acquisition, Motion Detection, Power Monitoring), End Users and Region – Global Forecast to 2029
Smart Agriculture Market Size, Share, Statistics and Industry Growth Analysis Report by Offering (Hardware, Software, Services), Agriculture Type, Farm Size (Large, Medium, Small), Application (Precision Farming, Livestock Monitoring) and Region (America, Europe, Asia Pacific, Row) – Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC. 1615 South Congress Ave.Suite 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/anti-drone-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/anti-drone.asp
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Artificial Intelligence

CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review

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CluePoints furthers its commitment to delivering innovative solutions that enhance clinical trial efficiency with this latest addition to its enterprise software platform.
KING OF PRUSSIA, Pa., Sept. 27, 2024 /PRNewswire/ — CluePoints continues to transform clinical trial review and leverage its industry-leading software to enhance the interrogation, analysis and presentation of data with the launch of its latest application, Medical & Safety Review (MSR).

The tool simplifies and streamlines the medical analysis of study data through user-friendly dashboards, data manipulation and cleaning, query management and full transparency over the data history. This not only improves efficiency and communication in medical oversight, but also elevates patient safety, differentiating MSR as a smarter and unique solution.
Designed by, and for Medical and Safety Reviewers, MSR converts the manual analysis of patient outcomes, which can be prone to inefficiency and error, into an accurate, efficient process. MSR tackles time-consuming study preparation for specific visualizations by featuring a comprehensive standard visualization library as well as the ability to copy and reuse dashboards across different studies, enabling the identification of outlying values, change tracking, and improved communication for smarter clinical trials.
Other benefits of MSR include:
Enhanced medical review efficiency and reduced human errors via automated checksReduced time spent by clinical and data management teams in reviewing dataImproved collaboration with integrated review workflows across departmentsEnsured record quality and accountability with comprehensive change trackingDriving faster decision making with the proactive detection of trends and safety issuesEnsuring regulatory compliance with rule-based detection and user assignmentsAndy Cooper, Chief Executive Officer at CluePoints, commented, “We are thrilled to announce the launch of Medical & Safety Review to our growing product offerings. MSR is the latest application addition to the CluePoints platform, which includes products such as Risk-Based Quality Management (RBQM) and our Site Profile & Oversight Tool (SPOT). Together, they provide a comprehensive approach to clinical trial optimization, enhancing data integrity, ensuring regulatory compliance, and accelerating drug development. The creation of MSR ensures a more streamlined review process while prioritizing patient safety at every step and empowers medical teams to swiftly identify outliers, track data changes, and improve communication.”
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of Artificial Intelligence using Advanced Statistics and Machine Learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
 

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