Blockchain Press Releases

Automated Guided Vehicle Market to Reach $9.18 Billion by 2030: Grand View Research, Inc.

Published

1 year ago

July 5, 2023

SAN FRANCISCO, July 5, 2023 /PRNewswire/ — The global automated guided vehicle market size is anticipated to reach USD 9.18 billion by 2030, registering a CAGR of 9.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. Automated guided vehicles (AGVs) have transformed the way materials can be moved within the manufacturing and distribution facilities. In a production environment where several operations are carried out simultaneously, these vehicles ensure a predictable and reliable transfer of raw materials and manufactured products from one point to another within the facility, thereby eliminating any potential disruption in production.

Key Industry Insights & Findings from the report:

The unit load carrier segment is expected to expand at the fastest CAGR over the forecast period owing to its ability to handle multiple items simultaneously, reducing the number of trips required and, potentially, handling costs.

Natural navigation technology’s adoption is expected to grow significantly over the forecast period as it enables businesses to easily modify and expand the guide path of the AGV.

Assembly line application is expected to have the highest CAGR over the forecasts period as assembly line AGV are replacing traditional mechanical production lines.

The manufacturing segment dominated the market in 2022 and accounted for a revenue share of over 77%. The growing adoption of automated guided vehicles across various industries can be attributed to the benefits offered by AGVs in terms of productivity, safety, and accuracy.

The service segment is anticipated to be the fastest-growing segment in the forecast period. This growth can be attributed to the rising demand for various services, which include preventive and corrective maintenance, vehicle and software health check, and training employees directly or indirectly with the operation of AGVs.
Europe dominated the market in 2022 and accounted for a revenue share of over 30%. Rising investments in the manufacturing sector’s technological advancement are expected to improve the AGV market in Europe.

Read 213-page market research report, “Automated Guided Vehicle Market Size, Share & Trends Analysis Report By Vehicle Type, By Navigation Technology, By Application, By End-Use Industry, By Component, By Battery Type, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.

Automated Guided Vehicle Market Growth & Trends

These vehicles can operate safely around structures, machinery, and employees, as they are equipped with accessories, such as camera vision and LiDAR sensors, which help detect junctions, identify floor signs, and avoid collisions with any obstacle. For instance, in November 2021, Quanergy Systems, Inc., a U.S.-based company that offers an AI-powered LiDAR platform, launched the new M1 Edge 2D LiDAR sensors for automation. The newly launched LiDAR sensor is light in weight, broad 360°, with a sensing capability of up to 200 meters used in mobile robotics, AGVs, warehouse logistics applications, and port automation.

Several manufacturing plants and warehouses deploy material handling equipment for various activities, such as locating stock, picking orders, and moving products and raw materials. Transportation and logistics firms are mainly focusing on deploying such equipment to boost the efficiency of their operations in line with the growing demand for their services. For instance, in March 2023, MasterMover Ltd, a prominent manufacturer of electric tug and tow solutions, announced a collaboration with BlueBotics, a navigation, robotics, and industrial automation company.

The partnership intends to offer best-in-class Autonomous Navigation Technology (ANT) technologies for MasterMover’s range of AGVs. In February 2021, Scott (Transbotics Corporation), a prominent solution provider for AGVs, partnered with KUKA AG, a German manufacturer of robots, to coordinate the industrial robots of KUKA AG into material handling systems. Further, these robots would also benefit the warehouse team in assembling, packaging, welding, storing, and shipping. Also, material handling solutions are used to increase transportation efficiency, decrease physical damage to the material, and reduce overheads by limiting the number of employees.

The AGV market is witnessing a progressive switch from lead-acid to lithium-ion batteries. Lithium-ion batteries offer several advantages over lead-acid batteries. They tend to be lighter and more compact. They can charge faster, provide longer runtimes, and support more charge cycles. Hence, they are ideal for AGVs, as they need not be charged frequently during operating shifts or in 24×7 operating environments, and AGVs running on lithium-ion batteries can offer higher round-trip efficiencies. For instance, in March 2021, Nissan Motor Co., Ltd, a global manufacturer of automobiles, buses, and trucks, stated that they use lithium-ion batteries to power their automated guided vehicles, which no longer need a worker to remove the battery and plug them in it charges faster. These batteries let AGVs last longer and bring significant innovations to their warehouse.

Automated Guided Vehicle Market Report Scope

Report Attribute	Details Advertisement
Market size value in 2023	USD 4.79 billion
Revenue forecast in 2030	USD 9.18 billion
Growth rate Advertisement	CAGR of 9.7% from 2023 to 2030
Base year for estimation	2022
Historical data	2017 – 2021 Advertisement
Forecast period	2023 – 2030

Automated Guided Vehicle Market Segmentation

Grand View Research has segmented the global automated guided vehicle market based on vehicle type, navigation technology, application, end-use industry, component, battery type, and region

Automated Guided Vehicle Market – Type Outlook (Revenue, USD Million, 2017 – 2030)

Tow Vehicle
Unit Load Carrier
Pallet Truck
Forklift Truck
Hybrid Vehicles
Others

Automated Guided Vehicle Market – Navigation Technology Outlook (Revenue, USD Million, 2017 – 2030)

Laser Guidance
Magnetic Guidance
Vision Guidance
Inductive Guidance
Natural Navigation
Others

Automated Guided Vehicle Market – Application Outlook (Revenue, USD Million, 2017 – 2030)

Logistics & Warehousing

Transportation
Cold Storage
Wholesale & Distribution
Cross-docking
Assembly

Packaging
Trailer Loading and Unloading
Raw Material Handling
Others

Automated Guided Vehicle Market – End-Use Industry Outlook (Revenue, USD Million, 2017 – 2030)

Manufacturing Sector

Automotive
Aerospace
Electronics
Chemical
Pharmaceuticals
Plastics
Defense
FMCG
Tissue
Others

Wholesale & Distribution Sector

E-commerce
Retail Chains/Conveyance Stores
Grocery Stores
Hotels & Restaurants

Automated Guided Vehicle Market – Component Outlook (Revenue, USD Million, 2017 – 2030)

Hardware
Software
Service

Automated Guided Vehicle Market – Battery Type Outlook (Revenue, USD Million, 2017 – 2030)

Lead Battery
Lithium-Ion Battery
Nickel-based Battery
Others

Automated Guided Vehicle Market – Regional Outlook (Revenue, USD Million, 2017 – 2030)

North America

U.S.
Canada

Europe

U.K.
Germany
France

Asia Pacific

China
Japan
India
Australia
South Korea

Latin America

Brazil
Mexico

Middle East and Africa (MEA)

Kingdom of Saudi Arabia (KSA)
UAE
South Africa

List of Key Players in Automated Guided Vehicle (AGV) Market

Swisslog Holding AG
Egemin Automation Inc.
Bastian Solutions, Inc.
Daifuku Co., Ltd.
Dematic
JBT
Seegrid Corporation
TOYOTA INDUSTRIES CORPORATION
Hyster-Yale Materials Handling, Inc.
BALYO
E&K Automation GmbH
Kollmorgen
KMH Fleet Solutions
ELETTRIC80 S.P.A.
Fetch Robotics, Inc.
inVia Robotics, Inc.
Locus Robotics
Schaefer Systems International, Inc.
System Logistics Spa
Transbotics (A division of Scott Systems International Incorporated)

Check out more related studies published by Grand View Research:

Vision Positioning System Market – The global vision positioning system market size is expected to reach USD 9.68 billion by 2025, according to a new report by Grand View Research, Inc., registering a 12.0% CAGR during the forecast period. Increased applications in healthcare, defense, and industrial automation sectors are expected to drive the market over the forecast period.
Automated Parcel Delivery Terminals Market – The global automated parcel delivery terminals market size is expected to reach USD 1.06 billion by 2025, according to a new study by Grand View Research, Inc. The market is expected to witness significant growth, owing to the rapidly increasing volumes of parcel shipping. Such a considerable increase in volume is primarily driven by the growth in e-commerce market and cross-border deliveries globally. In addition, the increasing demand for alternative delivery solutions is also fueling the market growth.
AMH Equipment Market – The global automated material handling equipment market size is expected to reach USD 114.45 billion by 2030, growing at a CAGR of 9.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing labor costs in many countries drive the demand for AMH equipment to replace manual labor. It helps companies save money by reducing the need for manual labor and increasing productivity. Furthermore, e-commerce has created a need for faster and more efficient material handling systems. AMH equipment is used in e-commerce warehouses to handle large volumes of orders and ensure that products are delivered to customers quickly and accurately. Technological advances have also made it possible to develop more sophisticated AMH equipment that is fast, accurate, and reliable. These systems use sensors, Artificial Intelligence (AI), and Machine Learning (ML) to automate material handling tasks.

Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
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Blockchain Press Releases

Africa Exclusive: Bybit Promotes Crypto Education with P2P Security Webinar

Published

7 hours ago

November 22, 2024

CISION (PR Newswire)

africa-exclusive:-bybit-promotes-crypto-education-with-p2p-security-webinar

DUBAI, UAE, Nov. 22, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, sets out to raise awareness of P2P security and to equip users with the latest anti-fraud knowledge and tools in a new learn and earn event exclusively for users in Africa. Hosting a P2P security Webinar on Nov. 25, Bybit P2P will also be announcing a prize pool valued at 10,000 USDT for a new Africa-exclusive deposit event.

P2P Security Webinar
On Nov. 25, the live webinar on P2P security will be broadcast in the Bybit Africa Telegram group from 7 to 9PM UTC. Attendees may benefit from a comprehensive session on tips and the latest know-how on asset safety and counterparty risks. The free webinar will cover the following topics:

Fraud detection: users will learn about signs of common scams and steps to verify payment authenticity.
Staying safe with Bybit P2P: users get to discover Bybit’s security tools and the latest features to combat fraudulent attempts.
Trading with confidence: users will gain practical advice and practical tips on how to trade safely.

The floor will be open for a live Q&A session after the sharing by Bybit P2P experts. Ahead of the webinar, attendees are invited to submit questions and the lucky ones will win 10 USDT if their questions are chosen by the speakers.

10,000 USDT Rewards for First-Time Deposits
From Nov. 25 to Dec. 15, 2024, new users who successfully sign up for a Bybit account and complete Identity Verification Level 1 may be eligible to share in a 10,000 USDT prize pool reserved for eligible users in Africa only. Users must sign up for the event and make a deposit via Bybit P2P to qualify and win up to 10 USDT, terms and conditions apply.

“Financial fraud is an age-old challenge and users must stay vigilant as scammers and fraudsters evolve. Bybit is constantly investing in our hardware and software to build the necessary guardrails for our platform. It does not take away the importance of user education, however, and we hope through engagements of this kind, we can help elevate the community on a path of growth,” said Joan Han, Sales and Marketing Director at Bybit.

P2P is an organic part of the crypto economy and helps to promote inclusivity in emerging economies. With Bybit P2P, users of all levels may access the user-friendly peer-to-peer trading platform to trade between themselves at an optimal, agreed-upon price. The service minimizes the need for the middleman, improving cost effectiveness while providing exchange-backed platform security.

Find out more about the event and eligibility at Bybit P2P.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Blockchain Press Releases

Polygon Collaborates with WSPN to Drive Stablecoin Adoption Through WUSD

Published

8 hours ago

November 22, 2024

CISION (PR Newswire)

SINGAPORE, Nov. 22, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN), a pioneer in digital payment solutions, and Polygon Labs, a software development company building the leading network of aggregated blockchains via the AggLayer, today announced their strategic collaboration aimed at unlocking the full potential of digital finance, focusing on the expansion and adoption of WUSD, WSPN’s flagship stablecoin.

WSPN has integrated Polygon PoS into its WUSD network infrastructure earlier this year. Now, this collaboration will focus on rapidly expanding WUSD adoption. Polygon Labs’s crucial liquidity support will be instrumental in bolstering WUSD’s mass adoption across various markets.

This collaboration will unlock opportunities to explore a range of innovative use cases for stablecoins, payments, and DeFi. Key areas of focus include facilitating payments and tokenization solutions for companies operating in Hong Kong SAR and Singapore, developing on-chain green finance projects tailored for African clients, and building robust DeFi platforms that leverage the strengths of both WSPN and Polygon technologies. These initiatives are strategically designed to address diverse market needs and drive the adoption of WUSD across a variety of regions and sectors.

By combining WSPN’s expertise in stablecoin solutions with Polygon’s advanced blockchain infrastructure, this collaboration will drive significant advancements in the digital asset space, particularly in emerging markets and the rapidly evolving DeFi sector.

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

Learn more: www.wspn.io | X | LinkedIn

About Polygon Labs

Polygon Labs is a software development company building and developing a network of aggregated blockchains via the AggLayer, secured by Ethereum. As public infrastructure, the AggLayer will bring together user bases and liquidity for any connected chain, and leverage Ethereum as a settlement layer. Polygon Labs has also contributed to the core development of several widely-adopted scaling protocols and tools for launching blockchains, including Polygon PoS, Polygon zkEVM, and Polygon Miden, which is in development, as well as Polygon CDK.

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Blockchain Press Releases

Bybit Waives P2P Transaction Fees for Users in Africa

Published

1 day ago

November 21, 2024

CISION (PR Newswire)

bybit-waives-p2p-transaction-fees-for-users-in-africa

DUBAI, UAE, Nov. 21, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to reaffirm its commitment to providing ease of access to digital assets for eligible P2P users in Africa at zero fee. Connecting buyers and sellers at no cost, Bybit P2P continues to be the benchmark for cost-effective and convenient trading experiences.

Since its launch in Jan. 2022, Bybit P2P has consistently provided a user-friendly platform for users seeking a safer way to participate in the digital asset class. The services are offered at no costs for merchants and takers in P2P transactions:

Merchants: Merchants may post advertisements on Bybit P2P for free.
Takers: Users may place an order through advertisements listed on the P2P platform at no costs. The offer stands across all fiat trading pairs. Third-party fees may incur depending on the payment method chosen, as the payment providers may charge a transaction fee.

P2P Fee Structure (Africa)

	Taker Fee (Sell Page)	Maker Fee (Sell Page)
Bybit Advertisement	0 %	0 %
Competitor B	0.5% on completed orders for certain trading pairs	0 % Advertisement

In addition, Bybit has launched an exciting P2P Coupon Giveaway Campaign from now to Jan. 15, 2025. As part of this initiative, users can earn a share of up to 20,000 USDT in rewards by completing tasks such as depositing $100 or trading $50,000 through Bybit P2P. The rewards will be in the form of Bybit P2P coupons to be redeemed in the next purchase, making the zero-fee transactions an even better deal for winners.

“Bybit’s steadfast commitment to contributing to financial inclusion comes in all forms, and keeping our P2P services free for as long as we can, and for as many users as possible, is one of the ways to support the crypto community,” said Joan Han, Sales and Marketing Director at Bybit. “When users come to our platform with the hopes of generating income on their assets, we want to play a supportive role in helping them reach their personal financial goals,” she added.

P2P on Bybit offers an intuitive and cost-effective peer-to-peer trading platform, facilitating the buying and selling of two users’ holdings at an optimal, agreed-upon price between them. With Bybit P2P, users stand to benefit from Bybit’s enterprise-level security and advanced features including comprehensive built-in KYC and KYB verification mechanisms, rigorous asset management protocols, and 24/7 customer service.

Find out more about the event and eligibility at Bybit P2P.

#Bybit / #TheCryptoArk

About Bybit

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