In 2020, the global automated guided vehicle market will be worth US$3.4 billion. It is estimated that by 2030, the global automated guided vehicle market will grow at a compound annual growth rate (CAGR) of 14.1%, and revenue will reach USD 12.3 billion. The forecast period is from 2021 to 2030. 

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The automated guided vehicle system transfers products in the factory by eliminating the need for fixed conveyor systems or manual intervention. It performs operations in accordance with guidelines to optimize storage, picking and transportation tasks in a high-quality space environment.

Geographically, Europe has a leading position in the global automated guided vehicle market. High labor costs, fast acceptance of automation, installation requirements and the benefits of AGV, as well as the outstanding factors that have contributed to the explosive expansion of the European automated guided vehicle market. In addition, the fast-growing e-commerce industry in the Asia-Pacific region is expected to grow rapidly in the market. Several major AGV installations and requirements for maintaining workplace safety in India and China are the few other factors driving market growth.

Globally, the COVID-19 outbreak has caused severe damage to various industries. As governments around the world implement statewide blockades to prevent the spread of the epidemic, many companies have suffered losses due to production gaps.

In such a difficult situation, the deployment of industrial automation and AGV plays a vital role in ensuring that companies achieve production goals. By allowing companies to continue operations, the pandemic has created various opportunities for the global AGV industry.

The following are some research results on the potential of the AGV market in the face of the pandemic: In October 2020, a team of fresh graduates and technical students in India produced an autonomous guided vehicle for the Karnataka Institute of Medical Sciences (KIMS) .

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