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Automated Guided Vehicle (AGV) Market worth $3.78 billion in 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Nov. 27, 2024 /PRNewswire/ — The global automated guided vehicle market is expected to grow from USD 2.56 billion in 2024 to USD 3.78 billion in 2029, with a CAGR of approximately 8.1% according to a new report by MarketsandMarkets™. The market’s growth is fueled by the increasing shift towards digital transformation and the adoption of automation technologies in diverse sectors. Enhanced safety standards and the need to minimize human errors in material handling are key factors contributing to the rising demand for AGVs. Additionally, the integration of advanced software solutions ensures greater precision and efficiency, further boosting market adoption. AGVs are becoming critical components in streamlining operations and maintaining competitiveness in rapidly evolving industries.

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Automated Guided Vehicle (AGV) Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 2.56 billion

Estimated Value by 2029

$ 3.78 billion

Growth Rate

Poised to grow at a CAGR of 8.1%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Type, Navigation Technology, Industry and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Maintenance Challenges and Downtime in AGV Operations

Key Market Opportunities

Enhanced AGV Capabilities through Technological Integration

Key Market Drivers

Rising Demand in E-commerce Drives Automated Guided Vehicle (AGV) Adoption for Efficient Order Fulfillment

Unit load carriers are expected hold a significant share in the Automated Guided Vehicle market during the forecast period.

Unit load carriers are highly sought as they help to transport large and heavy loads efficiently and hence are found mostly in manufacturing, warehousing, and logistics industries. The broad applicability and scalability of unit load carriers make them a sought-after business solution for material handling optimization. Unit load carriers can easily be integrated with existing systems. Their automation ensures reduced labor costs and increased productivity. Increasingly, industries are looking at enhancing operational efficiency and minimizing human error. Unit load carriers will always be in demand as its industry grows. Developing navigation technologies, battery life, and safety features have further enhanced the reliability of these vehicles, thus making them a key player in the AGV market. Strong demand for streamlined and automated material transport solutions creates a healthy growth opportunity for unit load carriers over the review period.

Vision-guided Automated Guided Vehicles (AGVs) to witness substantially high CAGR during the forecast period.

These AGVs use advanced vision systems to navigate and understand their surroundings using cameras and image processing algorithms with high accuracy. This system provides flexibility and adaptability in high dynamic environments. Vision guidance provides advantages in complex scenarios where other navigation techniques, like magnetic or laser, may fail to deliver precise information. An increasing requirement of intelligent and autonomous solutions in industries such as manufacturing, logistics, and warehousing across the globe will continue to drive high adoption rates of vision-guided AGVs in the market and drive tremendous growth in it.

The automotive industry is expected to hold a significant market share in the automated guided vehicle market during the projected period.

The growth of automotive industry is driven mainly by the increased demand for automation and effective material handling solutions in manufacturing plants. The growing demand for improved operational efficiency, reductions in labor costs, and safety measures is pushing up the adoption of AGVs within the automotive industry. Other factors that are increasing AGV popularity in automotive applications are improvements in AGV technologies, such as Al-driven navigation systems and autonomous vehicles. The sector also benefits from stricter regulations aimed at workplace safety and operational efficiency, speeding up AGVs’ use in production lines in the automobile industry.

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The Asia Pacific automated guided vehicle market is anticipated to experience the highest CAGR during the forecast period.

The Asia Pacific Automated Guided Vehicle (AGV) industry is expected to witness the highest CAGR during the forecast period, due to rapid industrialization and urbanization in countries such as China, India, and Japan. There is a huge demand for automation in manufacturing, warehousing, and logistics. Government initiatives that support automation and smart manufacturing technologies will propel the adoption of AGVs. Growing needs for efficient material handling with advancements in AGV technology, such as the integration of Al and better navigation systems, are likely to drive market development. Strong applications of cost-effectiveness and practical efficiency will help the APAC region significantly grow.

Major companies operating in the automated guided vehicle companies include Daifuku Co., Ltd. (Japan), JBT (US), KION Group AG (Germany), Toyota Industries Corporation (Japan), and KUKA AG (Germany).

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Related Reports: 

Automated Material Handling Equipment Market by Product (Autonomous Mobile Robots, Cobot Palletizers, Automated Storage & Retrieval Systems, Conveyors Systems, Warehouse Management System, Automated Guided Vehicles), Region – Global Forecast to 2029

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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From Connection to Impact: SINBON Electronics Brings the Invisible Links Behind Everyday Life to electronica and SPS 2026

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MUNICH and NUREMBERG, Germany, Oct. 21, 2026 /PRNewswire/ — Every day, millions of people rely on technologies that quietly work together. The data center, the charging station, the hospital and the factory floor are linked more closely than ever, and each depends on the connections that carry power and data between them. SINBON Electronics, a global provider of customized interconnect and system integration solutions, will show how those connections create real impact at electronica 2026 in Munich (November 10–13) and SPS Smart Production Solutions 2026 in Nuremberg (November 24–26). From renewable energy and e-mobility to energy-efficient automation, SINBON’s solutions help customers move toward a low-carbon future.

electronica 2026  |  Munich, November 10-13 

From data centers to hospital wards, and from rooftops to roadsides, SINBON’s solutions sit inside the systems people depend on every day. Customized connectors power AI servers, cabling solutions for solar and energy storage systems help bring clean power to homes and the grid, EV charging cables and battery swapping cabinets keep vehicles and autonomous devices moving, diagnostic imaging cables support accurate scans, and robotics interconnect solutions keep collaborative robots at work. At electronica, visitors will see how each connection leads to real impact, and how, together with its partners, SINBON is turning every connection into a step toward a more sustainable future.

SPS 2026  |  Nuremberg, November 24-26 

At SPS, the focus moves from connections to complete systems. Under the theme “Engineering Connections. Empowering the AI Smart City.”, SINBON will show how its end-to-end solutions, from design to full system integration, keep a smart city running: driving precision and productivity on the factory floor through semiconductor equipment, automation and robotics; supporting construction and agricultural machinery in the field; keeping transportation moving; and managing energy and cooling for the data centers behind AI.

Connections That Last

Since 1989, SINBON has grown from a component specialist into a full solution partner. With operations across Asia, Europe and the Americas, it combines local engineering support with global manufacturing and rigorous quality standards.

Today, SINBON works with customers from the first concept, bringing application engineering, system integration and manufacturing together to turn complex requirements into reliable, scalable solutions. As a sustainable solution provider, it considers environmental impact from the earliest design stage. SINBON now invites more partners to join its problem-solving network because meaningful impact is never created alone.

Visit us at:

electronica 2026

Messe München  |  Hall A3, Booth 341  |  November 10-13, 2026  |  Munich, Germany 

SPS Smart Production solutions 2026

Nuremberg Exhibition Centre  |  Hall 10, Booth 325  |  November 24-26, 2026  |  Nuremberg, Germany 

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Infobip and Yamaha Power Conversational Customer Engagement in Indonesia’s Automotive Sector

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JAKARTA, Indonesia, Oct. 21, 2026 /PRNewswire/ — Global cloud communications platform Infobip strengthens its collaboration with Yamaha Indonesia Motor Manufacturing (YIMM) to transform customer engagement through WhatsApp-powered conversational experiences designed to drive stronger personalization and faster customer interactions.

As Indonesia’s consumers increasingly adopt digital-first purchasing behaviors, Yamaha Indonesia is evolving how it connects with customers across the buying journey. Today’s motorcycle buyers often research products through Yamaha’s social media, websites, and video reviews on YouTube before visiting dealerships, raising expectations for brands to deliver fast, seamless, and highly personalized communication.

For more than two years, Infobip has supported Yamaha Indonesia in building connected customer engagement strategies that integrate WhatsApp across the company’s wider digital ecosystem, including its websites, social media platforms, and customer touchpoints. The collaboration reflects the growing importance of conversational messaging in Indonesia.

With more than 75% of Yamaha Indonesia’s consumers actively using WhatsApp, the platform has become central to the company’s customer communication strategy. Yamaha has also expanded its use of WhatsApp into large-scale public activations such as Pekan Raya Jakarta (PRJ), where thousands of daily visitors scanned QR codes to access interactive WhatsApp experiences. Through these journeys, visitors could complete surveys and profiling questions, participate in gamified activities, and receive prizes, enabling Yamaha Indonesia to better understand customer intent while delivering more engaging and personalized brand interactions.

With Infobip’s technology, expertise, and support, Yamaha Indonesia has enhanced its ability to deliver personalized conversations, improve lead capture and follow-up, support remarketing initiatives, and create more meaningful customer interactions that extend beyond brand awareness to business impact.

“Customer expectations in Indonesia’s automotive market are evolving, particularly around speed, convenience, and personalization. What makes this collaboration impactful is Yamaha Indonesia’s commitment to creating connected experiences across the entire customer journey. Together, we are enabling more dynamic and scalable conversations that help turn engagement into measurable business value,” said Kukuh Prayogi, Enterprise Business Director at Infobip (Indonesia).

“At Yamaha Motor Indonesia, we believe digital engagement should enhance every stage of the customer journey. Working with Infobip has helped us create more connected and responsive communications that meet customers where they are, through the channels they trust most. As customer expectations continue to evolve, this collaboration enables us to stay closer to our customers and deliver experiences that are more relevant, timely, and meaningful,” said Adita, Digital Customer Experience Manager at PT Yamaha Indonesia Motor Manufacturing.

Infobip and Yamaha Indonesia will continue enhancing automation, chatbot experiences, and personalized communication journeys to further elevate customer engagement across Indonesia’s automotive sector.

Learn more about the collaboration on our website: https://bit.ly/4zD1EMc.

About Infobip

Infobip is a global cloud communications platform that enables businesses to build connected experiences across all stages of the customer journey, with AI as the driving force of innovation. Through a single, natively built platform, Infobip delivers omnichannel engagement, identity, user authentication and contact centre solutions that help businesses and partners overcome the complexity of consumer communications while driving growth and increasing customer loyalty. Infobip is focused on enabling and accelerating AI adoption as it continues its transformation into an AI-first company. Infobip’s technology has the capacity to reach over seven billion mobile devices in 6 continents connected to 10k+ connections of which 800+ are direct operator connections. The company was established in 2006 and is led by its co-founders, CEO Silvio Kutić and CTO Izabel Jelenić.

Recent recognitions include:

Infobip ranked #16 in Fortune’s Europe’s Most Innovative Companies 2026 (June 2026), up from its inaugural #68 ranking in 2025.Infobip named a Leader in the Gartner® Magic Quadrant™ for Communications Platform as a Service (CPaaS) for the fourth consecutive year. Positioned furthest for Completeness of Vision for the second time (May 2026)Infobip named the number one Established Leader in the Juniper Research RCS for Business 2026 Leaderboard (Feb 2026)Infobip recognized as a growth and innovation leader in Frost Radar™: Communications Platform as a Service (CPaaS) by Frost & Sullivan (Oct 2025)Infobip ranked as the number one Established Leader in the Juniper Research Mobile Messaging Fraud Prevention Market report (Sept 2025)Infobip ranked as a Leader in the Omdia CPaaS Universe Report for the third time (April 2025)Infobip ranked an Established Leader in the Juniper Research Conversational AI Leaderboard (Feb 2025)Infobip named a CPaaS Leader for the third time in the IDC MarketScape (Feb 2025)Infobip named one of the top CPaaS providers in Metrigy’s CPaaS MetriRank Report (Dec 2024)Infobip recognized as the number one provider in the AIT Fraud Prevention market by Juniper Research (Oct 2024)

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Technological Sovereignty Takes Centre Stage as EU Tech Chief Henna Virkkunen Addresses UnitedXR Europe

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European Commission Executive Vice-President Henna Virkkunen joins speakers from SPECS by Snap, Google and Belgium’s imec at Maison de la Poste, 7–9 December, with international delegations confirmed.

BRUSSELS, Oct. 21, 2026 /PRNewswire/ — Who will shape the future of immersive technology, and how much control will Europe have over it? European Commission Executive Vice-President Henna Virkkunen will address European technological sovereignty at UnitedXR Europe this December, as companies, researchers and policymakers gather in Brussels to discuss the industry’s next steps.

Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy, will speak on Tuesday, 8 December at 15:00 at Maison de la Poste in Brussels.

Co-produced by AWE and Stereopsia, UnitedXR Europe returns from 7–9 December for three days of talks, an exhibition and the European XR Awards®.

Confirmed delegations from Hong Kong, Portugal, Ireland, the Netherlands, Belgium, four Nordic countries and over 60 other participating countries will bring an international perspective to discussions on how immersive technologies are developed, governed and used.

“Technological sovereignty can sound abstract. For our industry, it comes down to whether European companies can build successful products and have a say in how this technology develops,” said Alexandra Gérard, co-producer of UnitedXR Europe. “That’s why Henna Virkkunen’s participation is so important. We want Europe’s XR community to hear from her directly and take this conversation further in Brussels.”

Building technology people can trust

XR devices can capture information about our movements, surroundings and the people around us. What gets recorded? Who can access it? How is it protected? Developers need answers that give people confidence to use their products and businesses confidence to invest.

Programme highlights include:

Divergent Realities: Ethics, Rights and Social Impacts of XR and Smartglasses — Rob Morgan (Playlines | Wake The Tiger), Alina Kadlubsky (University of Applied Sciences Mittweida, Virtual Technologies Department), John Walker (SURF) and Kelsey Farish (media and technology lawyer). A discussion of the ethical, rights and social questions raised by XR and smart glasses.

Navigating the EU AI Act in Collaborative AI Production: How Do Creators Stay in Control? — Tim Deussen (Studio Deussen, Berlin). A look at the EU AI Act and what creative control means in collaborative AI production.

Building XR for the Business — Matthew Connors (Volvo Group). A session focused on enterprise use cases including security and scalability challenges.

Additional featured speakers include:

Daniel Wagner, SPECS by SnapAnne Bajart, European CommissionPatrick Bourdot, EuroXRSean Ginevan, GoogleProf. Frank Steinicke, University of HamburgThomas Kubski, DeloitteJosé Ferrer Costa, JMIR Publications | UOC | BSALuis Bravo Martins, XR Safety Intelligence – EuropeAndres Martin-Barrio, European Space Agency (ESA-ESTEC)

Explore the agenda

View the speaker lineup

Participating sponsors and exhibitors include SPECS by Snap, PICO, Lureo, Virtual World Association, XR4Europe, XR Valley, ManageXR, Imec, JMIR Publications, ArcelorMittal, Hong Kong Digital Entertainment Association (HKDEA), France Immersive Learning, HTC Vive, Even Realities.

European XR Awards celebrate the year’s creative work

The European XR Awards® shortlist ranges from climate documentaries to survival games, with nominees across nine categories. They include SOLWATA, a mixed-reality experience narrated by Mark Ruffalo about rising sea levels in the Solomon Islands; The Baby Factory is Closed, which explores menopause, identity and colonial medicine; and Bootstrap Island, a VR survival adventure inspired by Robinson Crusoe.

The ceremony takes place on Tuesday, 8 December, from 18:30–20:00 CET on the Main Stage at Maison de la Poste.

Explore the European XR Awards® and full nominee list

Early bird tickets available ahead of 21 October deadline

UnitedXR Europe takes place from 7–9 December 2026 at Maison de la Poste, Brussels.

Early-bird rates expire on 21 October, with three-day All Access passes available for €579 and two-day All Access passes for €479, including 21% Belgian VAT.

Tickets — View passes and register

Programme — Explore the agenda

Media — Apply for a media pass

About UnitedXR Europe

UnitedXR Europe is a conference and exhibition dedicated to augmented, virtual and mixed reality. Co-produced by AWE and Stereopsia in Brussels, it brings together technology companies, businesses, policymakers, researchers and creators to exchange knowledge, build partnerships and advance the development and adoption of immersive technologies. Its programme combines conference sessions, an exhibition, scientific research, creative experiences and the European XR Awards®.

Learn more at unitedxr.eu

Media Contact

Brittany Oat
Lightspeed PR & Marketing
Brittany@lightspeedpr.com

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SOURCE UnitedXR Europe

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