The Automated Guided Vehicle market is to reach $6.3 billion by 2030; Increasing adoption with Industry 4.0 technologies, including IoT, AI, and machine learning to propel the market growth of Automated Guided Vehicle market.

The Automated Guided Vehicle market size is estimated to reach $6.3 billion by 2030, growing at a CAGR of 8.05% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Automated Guided Vehicle – By Navigation (Laser Guidance, Magnetic Guidance, Inductive/Wire Guidance, GPS, 3D Vision Guidance, Others), By Application (Parts to line, Kitting/Picking, End of Line, Replenishment, Staging/Sortation, Cross Docking, Trsh Removal and Others), By Vehicle Type (Forklifts/Pellet, Tow, Clamp, Unit Load, Carts, Heavy Burden Carrier and Others), By End User (Automotive Industry, Manufacturing Industry, Chemical and Pharmaceutical Industry, Aerospace Industry, Paper Iindustry, Food & Beverage Industry, Warehousing and Distribution and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”.

North America held the largest share in the Automated Guided Vehicle Market in 2023 with  a share of about 36.72% followed by Asia-Pacific and Europe, the region boasts a strong industrial base, particularly in sectors such as manufacturing, logistics, and warehousing, which are major consumers of AGVs. North American companies have also been early adopters of automation technologies, leading to a well-developed ecosystem of AGV manufacturers, suppliers, and integrators. Additionally, the growing adoption of Industry 4.0 technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), is creating new opportunities for AGV integration and advanced functionalities. Furthermore, the increasing focus on warehouse automation and e-commerce fulfillment is driving demand for AGVs to handle the growing volume of goods and orders further driving the growth of the Automated Guided Vehicle industry in the Asia-Pacific region.