Global Autonomous Material Handling Equipment Market – Introduction
Autonomous material handling equipment is usually known as automated equipment, mainly employed for movement (lifting and placement) of discrete loads in a manufacturing unit or workstation. Many types of autonomous material handling equipment are offered for different operational applications including storage, assembly, waste handling, and distribution.
Usage of autonomous material handling equipment is significantly increasing among various industries such as logistics, aerospace, and automotive, as organizing & managing the industrial unit or warehouse.
Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=74173 Increasing demand for automated guided vehicles (AGVs) driving the global autonomous material handling equipment market
Automated material handling vehicles are also known as automated guided vehicles (AGVs), which are used to relocate or transfer materials in warehouses or industrial units. Automated guided vehicles (AGV) are armed with a vehicle fleet management platform in order to deliver optimum productivity in automotive and manufacturing industries. In addition, an AGV fleet management software/platform is specifically designed for fleet, traffic, and further logistics purposes. The fleet management software/platform generally helps industries to enhance their operational efficiency and logistics flexibilities. AGV fleet management platform can reduce operational costs as well as the labor force for automotive and other manufacturers. It also enables industries to implement advanced material handling techniques and decrease waste incurred in industrial processes.
Moreover, AGVs are majorly controlled and organized by advanced software, which is assimilated in vehicles and enables control and navigation of the vehicles. Additionally, various manufacturers or vendors are introducing mobile robots and vision guided vehicles to generate opportunities for the AGV fleet management software/platform. Automotive and manufacturing industries are emphasizing on increasing productivity and minimizing operational cost by employing automated guided vehicles (AGVs). This is expected to boost the growth of the autonomous material handling equipment market worldwide.
High initial investment expected to significantly hamper the autonomous material handling equipment market
The primary or initial cost of installing and integrating autonomous material handling equipment is fairly high, that restricts the usage of these equipment in various industries. Therefore, high initial investment is significantly expected to hamper the autonomous material handling equipment market during the forecast period. However, introduction of new technologies and increasing spending in the automotive and manufacturing sector is expected to reduce the initial cost of automated material handling equipment in the future.
Global Autonomous Material Handling Equipment Market – Competition Landscape
In February 2019, AGVE group received an order to provide AGV systems in Germany. The order majorly includes 16 A8 FLC AGV systems. The order is expected to help the company