SOURCE RESEARCH
Smart Warehousing
Market Data | 4Q 2024 | MD-SMWH-104
Get The ReportAutomated Guided Vehicles (AGVs) are autonomous robotic solutions that move around using fixed guidance systems located within their environment. Guidance systems can include magnetic tape, Quick Response (QR) codes, or other fiducial markers. While these robots are fully autonomous once set up, they cannot navigate autonomously within a warehouse without external guidance systems. AGVs are often not deployed on the same floor space as human workers.
As e-commerce companies and logistics providers increasingly digitize to ramp up production and alleviate labor shortage impact, the adoption of AGVs is expected to proliferate through the decade. Growing at a CAGR of 8.9%, the installed base for AGVs will climb from 400,525 in 2024 to an estimated 669,243 by 2030. Businesses in the Asia-Pacific region account for nearly half of all AGV deployments worldwide, with North America and Europe trailing far behind.
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