Automated Guided Cart Market- Revenue to Double in Next 6 Years, More Than 24K Unit Sales.
Latest trends on global Automated Guided Cart Market
Arizton has recently published the global automated guided cart market report. The market size was valued at USD 272.25 million in 2022 and is expected to reach USD 485.59 million by 2028, growing at a CAGR of 10.12%. The market growth is primarily driven by automation in material handling and the rising adoption of industrial robots. Moreover, the increasing wastage due to product damage and delays caused by accidents due to human error were the major drivers leading to the adoption of automated guided carts in material handling. Further, the labor cost across North America is rising continuously, leading to several end users moving towards technology which could help minimize the expenditure on labor and increase their productivity. Moreover, it will also help the organizations utilize the labor for other value-added tasks and focus on activities likely to enhance their revenue.
With the growing demand for automated guided carts, Is the material handling industry Set to Replace Human Workforce?
Automation is not about replacing humans. Let's break the myth that technological advancement leads to human workforce reduction. While AGVs are more than fit for playing out the vital undertakings of a production network, they are here to team up, not supplant. The usage of AGV provides industrial workers the chance to restructure their current task force into higher-value services like production or manufacturing processes. There is a growing demand for automated guided carts in the material handling industry to improve efficiency and increase production flow.
The automated guided cart (AGCs) are considered smaller solutions compared to the normal AGVs and offer an optimal way of automating a facility with the autonomous transfer of materials. The automated guided carts are beneficial for the assembly line and transportation work. Key factors driving their usage include their capability to increase the throughput with a reduced downtime process. Additionally, since these can operate with multiple types of navigational options, AGCs help easily automate manufacturing facilities and warehouses in various industries.
With the growing demand for high-end goods and services at reasonable prices and rising competition, vendors are gradually shifting towards process automation in different application segments.
Less Inventory Damage and More Safety Boosting the Demand for Automated Guided Carts
Nearly 20% of the time goes into the utilization of actual processing in manufacturing and storing products. Additionally, approximately 80% of the time goes into the movement of materials and processing. Inventory damage has been a main point for manufacturers since product damage accounts for a significant revenue loss for every stakeholder in the supply chain. Also, losses due to damaged inventory adversely impact companies' bottom line and financial health. This is where automated guided vehicles, including automated guided carts, come into the picture. Logistics automation enables the proficient flow of materials automatically with the latest technologies.
AGCs offer safety in the movement of loads because these comprise automatic obstacle detection bumpers and move on a path with accurately controlled deceleration and acceleration.
Automated Guided Carts Becoming the First Choice for Logistics Industry.
The intelligence and flexibility of the AGCs enable the integration of material flow and help the company gain proficient operational processes, thereby improving the competitiveness among the same.
These automated guided carts help in boosting intralogistics within fulfillment or distribution centers. The automotive, aerospace, food & beverages, and healthcare sectors, among others, are engaged in the implementation of an automated guided cart to cope with the changing industrial environment.
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