Many major companies are allocating millions of dollars in development and research to the latest robotics technologies for automated guided vehicles, according to a Transparency Market Research report released on Friday. These machines can help automate warehouse production, creating a safer and more flexible mode of manufacturing, the report said.
Some of the major players in this market include Hyster-Yale Materials Handling, JBT Corporation, Oceaneering AGV Systems, Toyota Industries Corporation, and Bastian Solutions LLC, the report found. The global automated guided vehicle market is predicted to reach $2.3 billion by 2024.
Automated guided vehicles are most often seen in manufacturing industries, but have also increased in logistics and distribution applications, the report found. These technologies are used in trailer loading, raw material handling and transportation, finished product handling, and conveyors on shop floors.