The global automated guided vehicle software (AGV) market research report by Technavio predicts the market to post a CAGR of more than 11% during the period 2019-2023.
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Technavio has released a new market research report on the global automated guided vehicle (AGV) software market for the period 2019-2023. (Graphic: Business Wire)
Vendors must expand their order processing capacities in warehouses and distribution centers as an increasing number of users are looking to buy products online. Over the last few years, there has been a rapid increase in the number of warehouses and distribution centers. Growing vendor capacity to deliver items in shortest time, maintenance of accuracy in order processing to minimize product returns and providing services with low costs are the factors promoting the demand for AGV software.
As per Technavio, the advent of integrated Industry 4.0 with IoT will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global automated guided vehicle software market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global automated guided vehicle software market: Advent of integrated Industry 4.0 with IoT
AGV software can be employed to determine the operation cost of AGVs using the breakdown data of each AGV. This data is stored on the cloud, and it can be accessed instantly using AGV analytics software for further analysis. Predictive analytics can be applied to minimize the incidence of breakdown based on this analysis. Thus, with material handling processes being automated, the demand for AGV software is expected to increase during the forecast period.
“Automation of processes can assist in reducing the operating costs for a company. This translates into increased revenue. The demand for automated material handling equipment such as AGVs is expected to increase during the forecast period as a rising number of companies will adopt the 4.0 Industrial Revolution in their facilities,” says a senior research analyst at Technavio.
Global automated guided vehicle software market: Segmentation analysis
This automated guided vehicle software market analysis report segments the market by type (in-built vehicle software and integrated software), end-user (distribution and logistics, automotive, manufacturing, retail, and others), and geography (APAC, Europe, MEA, South America, and North America).
The distribution and logistics segment held the largest automated guided vehicle software market share in 2018. AGV software (including in-built vehicle software and integrated software) will witness a record high growth rate in the transportation and logistics industry during the forecast period owing to the growth of the e-commerce industry globally.
Europe accounted for the highest share of the market in 2018. The steady development in the e-commerce sector and new safety regulations in Europe are expected to drive the growth of the AGV software market in this region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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