AGV Software Market by Offering (In-built Vehicle Software and Integrated Software), Industry (Automotive, Manufacturing, Food & Beverages, Aerospace, Healthcare, Logistics, Retail), and Geography - Global Forecast to 2023
“AGV software market is estimated to grow at a CAGR of 14.14% from 2018 to 2023”
The AGV software market is expected to grow from USD 540.2 million in 2018 to USD 1,046.4 million by 2023, at a CAGR of 14.14% from 2018 to 2023. The growth of this market is majorly driven by rising demand for automation across different industries, globalization of supply chain networks, and increasing adoption of on-cloud warehouse management system (WMS) solutions. However, high cost of implementing and upgrading AGV systems might restrain the market’s growth.
“Automotive industry accounted for the largest market share in 2017”
The automotive industry has been one of the key users of AGV technology. Factors such as transportation of heavy materials, growing after-sales spare parts market, increasing levels of customization in vehicles, and the need to ensure availability of components during vehicle manufacturing/assembling are driving the implementation of AGVs in the industry. An increasing installation of AGVs has also allowed several automotive companies to offset shortages of labor and costs associated with retaining them. With the growing demand for AGVs, the related software market is also growing.
“AGV software market in APAC to grow at the highest CAGR during the forecast period”
APAC is expected to register the highest CAGR globally during the forecast period owing to the region’s fast-growing e-commerce industry, booming manufacturing sector, and numerous planned installations of AGVs in emerging economies such as China and India. Moreover, governments in APAC countries are increasingly emphasizing on safety and security on production floors, which can be best achieved by the implementation of AGV systems.
In the process of determining and verifying the market size for several segments and subsegments obtained through secondary research, extensive primary interviews have been conducted with officials from key players. The breakup of the profile of primaries has been given below:
By Company Type: Tier 1 – 20%, Tier 2 – 35%, and Tier 3 – 45%
By Designation: C-Level Executives – 25%, Directors – 30%, and Others – 45%
By Region: North America – 27%, Europe – 42%, APAC – 25%, and RoW – 6%
Companies that provide a range of customized solutions are expected to emerge as game changers in this market. The key players in the AGV software market profiled in the report are as follows:
1. KION Group (Germany)
2. KUKA (Germany)
3. Toyota Industries (Japan)
4. JBT Corporation (US)
5. Oceaneering International (US)
6. Kollmorgen (US)
7. Murata Machinery (Japan)
8. BA Systemes (France)
9. Transbotics (US)
10. Götting (Germany)
In this report, segments such as offering, industry, and geography have been covered. The report also discusses drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across 4 regions: North America, Europe, APAC, and RoW. A value chain analysis has also been included in the report.
Reasons to Buy the Report:
This report includes statistics pertaining to the AGV software market, by offering, industry, and geography, along with the market size of each subsegment.
Major drivers, restraints, opportunities, and challenges for the market have been provided in detail in this report.
This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem and recent development strategies adopted by key players in the market, such as product launches and developments, partnerships, and mergers and acquisitions.
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