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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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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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Hyundai Motor and Kia’s Robotics LAB Announce Plans to Launch ‘X-ble Shoulder’ at Wearable Robot Tech Day

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Wearable robot ‘X-ble Shoulder’ to boost industrial efficiency and reduce musculoskeletal injuriesDesigned to assist overhead work by enhancing upper arm muscle strength, expected to find use in various industriesThe strong yet lightweight X-ble Shoulder enhances worker comfort by reducing shoulder load by 60% and muscle activity by 30%Hyundai Motor and Kia’s Robotics LAB announced commercialization plan for X-ble Shoulder, expected to begin deliveries in first half of 2025

SEOUL, South Korea, Nov. 27, 2024 /PRNewswire/ — Hyundai Motor Company and Kia Corporation have unveiled a reliable companion for industrial work, the wearable robot ‘X-ble Shoulder.’ This device, just by being worn, can increase workers’ efficiency and reduce musculoskeletal injuries. Two videos released on Hyundai Motor Group’s YouTube channel show the X-ble Shoulder in action, including product features and the development story.

Hyundai Motor and Kia unveiled the X-ble Shoulder at Wearable Robot Tech Day held at the Hyundai Motorstudio Goyang near Seoul. The X-ble brand — a combination of ‘X,’ symbolizing infinite potential, and ‘able,’ indicating that anything can be realized — heralds a new era in wearable technology.

The X-ble Shoulder, the first product in the X-ble line, is an industrial wearable robot developed by Hyundai Motor and Kia’s Robotics LAB. When used in ‘overhead work’ where the arm is raised, it can assist the user’s upper arm muscle strength and reduce the burden on the upper extremity musculoskeletal system.

The X-ble Shoulder will find use in various industries, including construction, shipbuilding, aviation and agriculture, not just automobiles. Following its domestic launch, the companies plan to gradually expand sales to overseas markets.

In addition to the X-ble Shoulder, Hyundai Motor and Kia plan to develop an industrial wearable robot ‘X-ble Waist’ to assist the waist when lifting heavy loads, and a medical wearable robot ‘X-ble MEX’ for the rehabilitation of the walking impaired.

“The X-ble Shoulder is a wearable robot that leverages the technical capabilities of the Robotics LAB and implements feedback from actual users,” said Dong Jin Hyun, Vice President and Head of Robotics LAB at Hyundai Motor and Kia. “Going forward, we aim to expand the availability of wearable robots, creating products that work naturally with users to enhance their daily lives. By pushing technological boundaries, we will make these beneficial products accessible to more people.”

View original content to download multimedia:https://www.prnewswire.com/news-releases/hyundai-motor-and-kias-robotics-lab-announce-plans-to-launch-x-ble-shoulder-at-wearable-robot-tech-day-302317253.html

SOURCE Hyundai Motor Company; Kia Corporation

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SHEIN is launching the ULTIMATE Giftorium experience just in time for the Festive Season

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MELBOURNE, Australia, Nov. 28, 2024 /PRNewswire/ — Global fashion giant SHEIN will bring the ultimate Giftorium experience to life, right in time for the festive season.

The SHEIN Giftorium will arrive at Oz Comic-Con Melbourne Xmas Edition for an unmissable experience December 7-8th. On offer will be a vibrant collection of beauty, fashion, home & living products – free and redeemable through participation in various games available at the activation – alongside experiences that will showcase SHEIN’s one-stop-shop range of on-trend and affordable products perfect for Holiday gifting.

Oz Comic-Con is Australia’s premier pop culture event gathering fans of comics, movies, TV, anime, gaming, and more. A celebration of all things geek culture featuring exciting panels, cosplay competitions, and exclusive meet-and-greets with stars from the world of film, TV, and gaming.

Oz Comic-Con Melbourne Xmas attendees can immerse themselves in a range of SHEIN gifting essentials; Jewellery & Accessories, Home & Living, Office & School Supplies, Toys & Games, and Beauty & Health throughout the SHEIN Giftorium. As well as SHEGLAM being a hero moment.

“Our SHEIN Giftorium experience at Oz Comic-Con will provide attendees the unique experience of selecting their favourite items and festive gifts, whether for themselves or loved ones, through engaging and interactive experiences,” said a SHEIN Spokesperson.

“Our aim is to connect face-to-face with consumers, with no sales functions taking place at the event itself, the goal is to engage directly with attendees and showcase our range of ultimate Christmas gifting.

“But the experience doesn’t end there – on display will be a select range of key items as a part of the Giftoirum event, however, online is where all our Australian customers can look to dive into the full range available across SHEIN for festive gifting.

“Our customers will find everything under the sun related to fashion and lifestyle, all at cost-effective prices. With an easy shopping process including free returns, customers can shop efficiently from anywhere,” said a SHEIN spokesperson.

With unstoppable style and unbeatable fits, the SHEIN Giftorum experience continues online with a wide product range spanning fashion & beauty, home & lifestyle, accessories, kids, toys & games, electronics & tech accessories, office & school supplies – and so much more.

The extensive range ensures that Aussies can find something special for everyone on the list, making holiday shopping a breeze. Embrace the convenience and variety SHEIN offers and make this Christmas memorable with gifts that delight and inspire.

SHEIN Giftorium at Oz Comic-Con Melbourne Xmas Edition December 7-8, Melbourne Convention & Exhibition Centre: ozcomiccon.com/melbourne-xmas-edition/*

Shop SHEIN for Holiday gift guide ideas: https://au.shein.com/

View original content:https://www.prnewswire.com/apac/news-releases/shein-is-launching-the-ultimate-giftorium-experience-just-in-time-for-the-festive-season-302317926.html

SOURCE SHEIN

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Appian Announces 2024 APJ Partner Award Winners

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Recognising WNS-Vuram, Deloitte, Cognizant, KPMG, Accenture, and Via Appia for delivering process excellence

SYDNEY, Nov. 28, 2024 /PRNewswire/ — Appian (Nasdaq: APPN) today unveiled the recipients of its 2024 Asia-Pacific and Japan (APJ) Partner Awards, recognising industry excellence across six categories. The awards celebrate high-impact and committed partners who have contributed to growth in customer engagements. In addition, winners have delivered transformational value with the Appian Platform. This year’s winners have created world-class solutions and services across industries and represent another strong year for Appian’s partnership network.

“We are thrilled to celebrate our partners and the significant role they play in transforming businesses across APJ,” said Steve Gillett, Regional Vice President, APJ Alliances at Appian. “The Appian Partner Awards highlight the tremendous impact our partners have on organisations in the region, showcasing their expertise and dedication. These partners have shown unwavering commitment to deliver outstanding value to our shared customers.”

The annual APJ Partner Awards celebrate strategic partners who exemplify leadership in driving transformation with Appian. These awards honour partners who are not only expanding Appian’s reach but also setting new benchmarks for delivering impactful solutions across the region. This year’s winners were announced at Appian’s 2024 Partner Celebration Event in Sydney.

Delivery Award Winner: WNS-Vuram
WNS-Vuram has developed many customer solutions with speed, precision, and quality. This is reflected in their remarkable growth in the region, including significant expansions within the insurance and logistics sectors, as well as their impressive CSAT score of 9.3/10. With a robust team of certified developers, WNS-Vuram remains the largest delivery partner across APJ, seamlessly executing projects and ensuring superior, client-centric outcomes.

Growth Award Winner: Deloitte
Deloitte Australia has shown exceptional commitment to accelerating Appian’s growth through strategic investments with a dedicated alliance structure and industry expertise. Driven by strong executive support and a focused vision, Deloitte has quickly built and expanded its Appian practice. The firm has established the platform as a foundational technology for transformation initiatives in the public sector, financial services, energy, and other key industries. With a dedicated alliance lead and experienced partner leads in place, Deloitte has collaborated closely with Appian to develop go-to-market strategies that identify new growth opportunities and expand Appian’s reach across Australia.

Innovation Award Winner: Cognizant
Cognizant has distinguished itself as an innovation leader by embracing a forward-thinking, customer-centric approach to expanding Appian’s reach. A key element of Cognizant’s approach is their “Agility Layer” go-to-market campaign, reinforcing Appian’s reputation as a highly adaptable platform to help organisations quickly adjust to evolving business demands. Additionally, Cognizant’s specialised grants management Appian solution showcases its technical expertise and vision for solving industry-specific challenges, particularly in the government and public sectors.

Transformation Award Winner: KPMG
KPMG has been an exceptional leader in driving transformational change by integrating Appian into its core methodologies, specifically within the “Connected Enterprise” and “Powered Transformation” go-to-market strategies. By positioning Appian as a key enabling technology, KPMG has empowered organisations to streamline processes and enhance agility to help customers achieve faster, more sustainable outcomes.

Value Award Winner: Accenture
Accenture has played a pivotal role in driving Appian adoption for enterprise-scale digital transformation. Accenture has supported significant wins across key sectors and delivered transformative outcomes in financial services, insurance, and the public sector. Committed to furthering this success, Accenture has set an ambitious goal to double its Appian business in FY25, with plans to expand its delivery team to meet growing demand.

Channel Partner of the Year Award Winner: Via Appia
Via Appia has shown its dedication to expanding Appian’s presence across the APJ region, delivering solutions that consistently meet and exceed client expectations while driving impactful results. By leveraging deep expertise and a customer-centric approach, Via Appia has built a trusted reputation as a go-to partner, fostering long-term client relationships that amplify Appian’s impact in the region.

About Appian
Appian is a software company that orchestrates business processes. The Appian Platform empowers leaders to design, automate, and optimize important processes from start to finish. With our industry-leading platform and commitment to customer success, Appian is trusted by top organizations to drive transformational process change. For more information, visit appian.com. [Nasdaq: APPN]

Follow Appian on LinkedIn and X (formerly Twitter).

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View original content:https://www.prnewswire.com/apac/news-releases/appian-announces-2024-apj-partner-award-winners-302317927.html

SOURCE Appian

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