Autonomous or automated guided vehicles (AGVs) are those compact wheeled conveyances that tote, tow, trailer, lift, shift, rotate, rack and store, or otherwise transport goods along defined paths set by guidance systems. New iterations of these robotic designs are on the rise. In fact, AGVs — a relatively mature technology in the field of robotics — make a $850 million (global) market set to grow at 10% CAGR or better in coming years.
This is partly due to the aim of manufacturing, assembly, logistics, and distribution plants and warehouses to lower labor costs with automation and lean processes. Right now, the automotive industry dominates AGV use (at 25% of all applications) but growing drivers are global industrialization, e-commerce, and interest in leveraging IIoT functionality (with integration of automation with enterprise-level operations) in an array of other industries.
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