Automated Guided Vehicle (AGV) Software Market to grow by USD 441.46 million from 2019 to 2024: Market driven by the growing e-commerce industry-Technavio

NEW YORK, June 29, 2023 /PRNewswire/ -- The automated guided vehicle (AGV) software market size is estimated to grow by USD 441.46 million from 2019 to 2024. However, the growth momentum will be progressing at a CAGR of 11.23% during the forecast period. The market is segmented by type (in-built vehicle software and integrated software) and geography (Europe, North America, APAC, and South America). The automated guided vehicle (AGV) software market share growth by the in-built vehicle software segment will be significant during the forecast period. Due to the increasing popularity of AGVs among end-user industries such as manufacturing, distribution and logistics, retail, and automotive, the in-built vehicle software market segment will register high growth. AGVs such as unit load carriers, tow vehicles, pallet trucks, and assembly line machines use in-built vehicle software including navigation and management software. Download a Sample Report Now!

Automated guided vehicle (AGV) software market insights -

• Vendors: 15+, Including Daifuku Co. Ltd., Honeywell International Inc., John Bean Technologies Corp., KION GROUP AG, Kollmorgen Corp., KUKA AG, Murata Machinery Ltd., SSI SCHAEFER Group, TGW LOGISTICS GROUP, Toyota Industries Corp., among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Type (in-built vehicle software and integrated software) and Geography (Europe, North America, APAC, and South America)

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Automated guided vehicle (AGV) software market - Vendor Insights

The growing competition in the market is compelling vendors to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including -Daifuku Co. Ltd., Honeywell International Inc., John Bean Technologies Corp., KION GROUP AG, Kollmorgen Corp., KUKA AG, Murata Machinery Ltd., SSI SCHAEFER Group, TGW LOGISTICS GROUP, Toyota Industries Corp.

Automated Guided Vehicle (AGV) Software Market – Market Dynamics

Major Trends - 

Digital transformation is an emerging market trend driving the automated guided vehicle (AGV) software market growth. Digital transformation across industries such as healthcare, transportation and logistics, retail, hospitality, and manufacturing is propelling the growth of the global AGV software market. In the manufacturing and logistics industries, multiple progressive characteristics are being introduced in the AGV software to enhance the efficiency of operations. The emergence of advanced analytics, 360-degree feedback, and the IoT is making warehouse tasks complex (such as time and performance management), which AGV software can efficiently address. Multiple industries such as transportation and logistics, retail (e-commerce), food and beverages, and manufacturing depend on technologies to enhance efficiency and save on labor costs in their warehouses. Thus, technological advancements and the growing adoption of digitization would drive the growth of the global AGV software market during the forecast period.

KEY challenges - 

The significant challenge hindering the automated guided vehicle (AGV) software market growth is the resistance to adopting new technology. Numerous industries, such as manufacturing, retail, transportation and logistics, and healthcare, are facing various challenges associated with the adoption of new advanced technologies for warehouse management. Multiple project teams are hesitant to adopt recent advanced technologies as most of the construction firms depend on traditional manual warehouse management techniques that are not software-based. Nevertheless, with the emergence of new technologies, firms are facing hardships in transitioning from traditional applications to advanced automated applications. The emergence of advanced technologies has elevated the level of responsibilities for companies as they must remain updated with the latest ones for them to be able to adopt the systems. Thus, the resistance among end-user firms to shift to the advanced versions of AGVs is anticipated to pose a major challenge to the growth of the global AGV software market.

Drivers, & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

The automated guided vehicle (AGV) software market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this Automated Guided Vehicle (AGV) Software Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automated guided vehicle (AGV) software market between 2020 and 2024
• Precise estimation  of the automated guided vehicle (AGV) software market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the automated guided vehicle (AGV) software market industry across Europe, North America, APAC, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automated guided vehicle (AGV) software market vendors

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Related Reports: 

The automated guided vehicle (AGV) market size is estimated to grow at a CAGR of 8.97% between 2022 and 2027, and the size of the market is forecast to increase by USD 1,395.15 million. This report extensively covers market segmentation by product (unit load carrier, tow vehicle, pallet truck, assembly line vehicle, and others), end-user (automotive, food and beverages, electronics and electrical, pharmaceuticals, and others), and geography (Europe, APAC, North America, South America, and Middle East and Africa). The rapid growth in e-commerce retail is notably driving the AGV market growth.

The commercial vehicle ADAS market share is expected to increase by USD 1.65 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.25%. This report extensively covers commercial vehicle ADAS market segmentation by technology (TPMS, PAS, FCW, and others), application (LCV and HCV), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The introduction of sensor technology is one of the key drivers supporting the commercial vehicle advanced driver assistance system market growth.

Table of contents

1 Executive Summary

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 01: Parent market
• Exhibit 02: Market characteristics

• 2.2 Value chain analysis 
• Exhibit 03: Value chain analysis for application software

3 Market Sizing

• 3.1 Market definition 
• Exhibit 04: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 05: Market segments

• 3.3 Market size 2020 

• 3.4 Market outlook: Forecast for 2020 - 2025
• Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
• Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

4 Five Forces Analysis

• 4.1 Fiver forces summary 
• Exhibit 08: Five forces analysis 2020 & 2025

• 4.2 Bargaining power of buyers 
• Exhibit 09: Bargaining power of buyers

• 4.3 Bargaining power of suppliers 
• Exhibit 10: Bargaining power of suppliers

• 4.4 Threat of new entrants 
• Exhibit 11: Threat of new entrants

• 4.5 Threat of substitutes 
• Exhibit 12: Threat of substitutes

• 4.6 Threat of rivalry 
• Exhibit 13: Threat of rivalry

• 4.7 Market condition 
• Exhibit 14: Market condition - Five forces 2020

5 Market Segmentation by Type

• 5.1 Market segments 
• Exhibit 15: Type - Market share 2020-2025 (%)

• 5.2 Comparison by Type 
• Exhibit 16: Comparison by Type

• 5.3 In-built vehicle software - Market size and forecast 2020-2025 
• Exhibit 17: In-built vehicle software - Market size and forecast 2020-2025 ($ million)
• Exhibit 18: In-built vehicle software - Year-over-year growth 2020-2025 (%)

• 5.4 Integrated software - Market size and forecast 2020-2025 
• Exhibit 19: Integrated software - Market size and forecast 2020-2025 ($ million)
• Exhibit 20: Integrated software - Year-over-year growth 2020-2025 (%)

• 5.5 Market opportunity by Type 
• Exhibit 21: Market opportunity by Type

6 Market segmentation by end-user

7 Customer Landscape

8 Geographic Landscape

• 8.1 Geographic segmentation 

• 8.2 Geographic comparison 

• 8.3 Europe - Market size and forecast 2020-2025

• 8.4 North America - Market size and forecast 2020-2025

• 8.5 APAC - Market size and forecast 2020-2025

• 8.6 South America - Market size and forecast 2020-2025

• 8.7 MEA - Market size and forecast 2020-2025

• 8.8 Key leading countries 

• 8.9 Market opportunity by geography 

9 Drivers, Challenges, and Trends

• 9.1 Market drivers 

• 9.2 Market challenges 

• 9.3 Market trends 

10 Vendor Landscape

• 10.1 Overview 

• 10.2 Vendor landscape 

• 10.3 Landscape disruption 

11 Vendor Analysis

• 11.1 Vendors covered 

• 11.2 Market positioning of vendors 

• 11.3 Daifuku Co. Ltd. 

• 11.4 Honeywell International Inc. 

• 11.5 John Bean Technologies Corp. 

• 11.6 KION GROUP AG 

• 11.7 Kollmorgen Corp. 

• 11.8 KUKA AG 

• 11.9 Oceaneering International Inc. 

• 11.10 SSI SCHAEFER Group 

• 11.11 TGW LOGISTICS GROUP GmbH 

• 11.12 Toyota Industries Corp. 

12 Appendix

• 12.1 Scope of the report 

• 12.2 Currency conversion rates for US$ 

• 12.3 Research methodology 

• 12.4 List of abbreviations

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