The advent of integrated Industry
4.0 with IoT to drive market growth. The global economy is currently recording
the adoption of industrial automation across various end-user industries, which
is termed as the 4.0 Industrial Revolution. This current trend of automation
for data exchange in manufacturing and other labor-intensive processes includes
the loT, cyber-physical systems, and cloud computing. Robotics systems
controlled by remote computers, which are equipped with machine learning, are
used to process a wide range of materials with minimal human intervention. Our
analysts have predicted that the automated guided vehicle (AGV) software market
will register a CAGR of over 11% by 2023.
Market Overview
Digital transformation
Digital transformation across
industries such as healthcare, transportation and logistics, retail,
hospitality, and manufacturing is driving the growth of the global AGV software
market. In the manufacturing and logistics industries, numerous advanced
features are being introduced in the AGV software to improve the efficiency of
operations. The emergence of advanced analytics, 360-degree feedback, and the
loT is making warehouse tasks complex (such as time and performance
management), which an AGV software can easily manage.
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Interoperability issues
Interoperability issues is a major
challenge in the market. Compatibility problems among different software
applications, which varying AGV vendors develop increase the interoperability
issues. The lack of interoperability makes information sharing between the AGVs
and other warehouse sensors difficult. This may give rise to errors in the task
performance of the AGVs. Therefore, the lack in interoperability leaves
end-users unsatisfactory, which impedes the growth of the global AGV software
market.
For the detailed list of factors
that will drive and challenge the growth of the automated guided vehicle (AGV)
software market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented
and with the presence of several companies including Daifuku and Honeywell
International the competitive environment is quite intense. Factors such as the
digital transformation and the advent of integrated Industry 4.0 with IoT, will
provide considerable growth opportunities to automated guided vehicle (AGV)
software manufactures. Daifuku, Honeywell International, KION GROUP, Murata
Machinery, and SSI SCHAEFER are some of the major companies covered in this
report.
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Contact Us: Acquire Market Research is a shrine of world-class research reports from around the world and we offer you only the best in the Industry when it comes to research. At Acquire, every data need will be catered to and met with a powerful world of choices.
"We understand the integral role data plays in the growth of Business empires."
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