Automated Guided Vehicle Market is estimated to be US$ 24.05 billion by 2030 with a CAGR of 16.20% d

Global Automated Guided Vehicle Market accounted for US$ 5.43 billion in 2020 and is estimated to be US$ 24.05 billion by 2030 and is anticipated to register a CAGR of 16.2%. The automated guided vehicle market is growing due to an increase in demand for automation and automated guided vehicles in many industries, as well as improvements in safety, accuracy, and productivity. In addition, lower labour costs in companies help to drive market expansion. However, the automated guided vehicle market's growth is hampered by high initial investment costs and a lack of flexibility. Further, implementation of industry 4.0 is predicted to give attractive growth prospects for firms functioning in the automated guided vehicle market.