Global Automated Guided Vehicle (AGV) Software Market 2019-2023
About this market
The advent of integrated Industry 4.0 with IoT to drive market growth. The global economy is currently recording the adoption of industrial automation across various end-user industries, which is termed as the 4.0 Industrial Revolution. This current trend of automation for data exchange in manufacturing and other labor-intensive processes includes the loT, cyber-physical systems, and cloud computing. Robotics systems controlled by remote computers, which are equipped with machine learning, are used to process a wide range of materials with minimal human intervention. Technavio’s analysts have predicted that the automated guided vehicle (AGV) software market will register a CAGR of over 11% by 2023.
Digital transformation across industries such as healthcare, transportation and logistics, retail, hospitality, and manufacturing is driving the growth of the global AGV software market. In the manufacturing and logistics industries, numerous advanced features are being introduced in the AGV software to improve the efficiency of operations. The emergence of advanced analytics, 360-degree feedback, and the loT is making warehouse tasks complex (such as time and performance management), which an AGV software can easily manage.
Interoperability issues is a major challenge in the market. Compatibility problems among different software applications, which varying AGV vendors develop increase the interoperability issues. The lack of interoperability makes information sharing between the AGVs and other warehouse sensors difficult. This may give rise to errors in the task performance of the AGVs. Therefore, the lack in interoperability leaves end-users unsatisfactory, which impedes the growth of the global AGV software market.
For the detailed list of factors that will drive and challenge the growth of the automated guided vehicle (AGV) software market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Daifuku and Honeywell International the competitive environment is quite intense. Factors such as the digital transformation and the advent of integrated Industry 4.0 with IoT, will provide considerable growth opportunities to automated guided vehicle (AGV) software manufactures. Daifuku, Honeywell International, KION GROUP, Murata Machinery, and SSI SCHAEFER are some of the major companies covered in this report.
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