North America Automated Guided Vehicles Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Wired Navigation, Guide Tape Navigation, Laser Target Navigation, Magnetic Navigation, and Others), Type (Standard, Hybrid, Compact, and

North America Automated Guided Vehicles Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Wired Navigation, Guide Tape Navigation, Laser Target Navigation, Magnetic Navigation, and Others), Type (Standard, Hybrid, Compact, and Others), Vehicle Type (Pallet Trucks, Unit Load Carriers, Driverless Trains, Forklift Trucks, and Others), and End-User (General Manufacturing, Food and Beverage, Aerospace, Retail, Healthcare, Logistics, Automotive, and Others)

The North America automated guided vehicles market is expected to grow from US$ 855.05 million in 2021 to US$ 2,278.41 million by 2028; it is estimated to grow at a CAGR of 15.0% from 2021 to 2028. Recently, the adoption of automated guided vehicles (AGVs) has increased drastically as they are effective and reliable solutions for material handling, which, in turn, increases the industry's production capacity. These material handling solutions reduce physical damages to goods and boost the efficiency of operations. The overall need for high efficiency in the automotive, healthcare, e-commerce, and food & beverage industries increases the demand for automated material handling. It has enabled the industries to connect factories with big data and machine learning, resulting in increased automation. The AGV-enabled automation in industrial facilities can help meet the requirements related to material handling capacity and reduced production time. Moreover, this automation facilitates improved labor management, enhanced safety, high production volumes, and increased accuracy and repeatability by enhancing quality control with flexible manufacturing processes. AGVs enable just-in-time (JIT) delivery of raw material, computerized control of received assembled parts, and tracking of shipped articles. At present, the automotive industries are rapidly adopting automation and AGVs, especially in their production floors. Thus, the growing demand for automation in material handling across industries is increasing the adoption of AGVs during the forecast period across the North America region.

In North America, the US is the worst impacted country in the COVID-19 pandemic. North America is one of the most important regions for the adoption and growth of new technologies due to favorable government policies to boost innovation, huge technological companies, and high adoption of automation in various industries, especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the region's economic growth in a negative manner. Apart from the US, Canada and Mexico have also witnessed a significant rise in the number of COVID-19 infected patients. This led the governments to impose lockdowns to limit human movement, thereby leading the manufacturing facilities to experience lower than usual production volumes. The US is one of the largest markets for developing autonomous technologies and integrating them into machines to make them automated. In addition, the testing of autonomous technologies is also high in the region, which declined due to the pandemic. Similarly, many industries faced challenges during the pandemic, and the production volume decreased for many sectors due to lockdown. Hence, the COVID-19 crisis in the US negatively impacted the automated guided vehicles market growth of the North America region.

Based on technology, the laser target navigation segment led the North America automated guided vehicles market in 2020. Laser target systems are more accurate, speedy, and reliable technology that navigates vehicles with a laser positioning system. This technology is traditionally used in supply chain management, thereby increasing warehouse efficiency. Laser target navigation is used in a wide range of verticals, and it is used in automatic forklift trucks, warehouse management, stocking applications, and tow tractors AGVs. Every laser-guided vehicle is equipped with a 2-dimensional navigation laser. Similarly, flat reflectors and cylindrical reflectors are the two significant reflectors in vehicle design. Flat reflectors are simple & low-priced strips of retro-reflective tape that offer excellent accuracy for the vehicle. However, cylindrical reflectors are more challenging to deploy and disrupt users. Thus, the abovementioned factors boost the growth of the laser target navigation segment in the market.

The overall North America automated guided vehicles market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the North America automated guided vehicles market. The process also serves the purpose of obtaining overview and forecast for the North America automated guided vehicles market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America automated guided vehicles market. Balyo SA; Bastian Solutions, Inc.; Daifuku Co., Ltd.; Dematic Group (KION Group AG); Hyster-Yale Group, Inc.; JBT Corporation; Konecranes Oyj; Kuka AG; and SSI SCHAEFER Group are among a few players operating in the North America automated guided vehicles market.

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