Industry 4.0, coupled with globalization, digitalization, and automation in factories and warehouses is set to aid growth of the Canadian automated guided vehicle market. Automation is currently one of the biggest trends in the industrial sector. Automatic guided vehicles, which are a result of intelligent software and agile hardware robots, are majorly used in factories, plants, warehouses, and related manufacturing setups. Canada is a developed country and is a home to a series of end-user industrial infrastructure such as factories and warehouses. Canadian industrialists are sensing the importance of automation in their businesses, and are hastily applying emerging technologies such as cloud computing, machine learning, and the Internet of Things (IoT) to optimize their processes and manufacturing costs. Automated guided vehicles (AGV) are equipped with motorized rollers and advanced sensors that support the hassle-free movement of heavy loads in factories and warehouses. The major growth factor in the Canada automated guided vehicle market is the increasing demand for automation in an industrial setup. This transition from conventional to automated operationsis employing a significant number of automated guided vehicles which is, in turn, supporting the Canadian automated guided vehicles market. The Canada automated guided vehicle market size, which was valued at $225.7 millionin 2018 is projected to grow at a CAGR of 6.5% during the forecast period 2019 to 2025. The increasing prevalence of the e-commerce industry in the region is also a major factor driving Canada’s automated guided vehicles market. E-commerce warehouses use AGVs for transportation of goods at each level of the supply chain in a factory spanning transportation of warehouse components from manufacturing lines to storage, and even inventory distribution. Rising safety standards at workplaces are encouraging industrial workforceto use automated guided vehicles for the transportation of heavy loads within the factory. All the aforementioned aspects are propelling the Canada automated guided vehicle market growth.
Automated guided vehicle is used in numerous end-user industries. The retail sector is regarded as the most lucrative application for automated guided vehicles, and is projected to grow at a CAGR of 9.91% during the forecast period. Storage warehouses are the place where the maximum number of automated guided vehicles are used to manage placement of shipment and products. The fact that machines are calibrated in a way that they can execute recurring tasks better than humans is one factor influencing industrial retail warehouse operators to go for automation. Moreover, the desire to minimize human error is another factor driving demand for automated guided vehicles in the country. Employing automated guided vehicles instead of human labor can improve the production rate of work and incorporate standardization in operations. Automated guided vehicles do not require human intervention to carry out a task, they are programmed in such a way that they can work in a complex environment in a recurring manner without stopping.
Disruptive Trends in the Canada AGV Market
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Canada AGV Market: Competitive Landscape
The companies influencing the Canada AGV market are Daifuku Co. Ltd., Keller und Knappich Augsburg (KUKA), SSI Schaefer-Fritz Schaefer GmbH, Oceaneering International Inc., Kion Group AG, Savant , Transbotics Corporation, America in Motion Inc., AGV International, Meidensha Corporation, and Dematic Corp.
Automated Guided Vehicle Market
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