Canada Automated Guided Vehicle Market estimated to grow at a CAGR of 6.5% through to 2025

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.

Application Analysis

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

•  E-Commerce Delivery Strategies: The exceptional growth of the e-commerce industry is poised to contribute to the Canada automated guided vehiclesmarket. With ample resources, companies are competing over delivery strategies such as single day delivery and customized delivery. Majority of the e-commerce companies are focused on improving their service quality in order to achieve the desired customer response. Companies are offering single-day delivery options to customers with some surcharges, and with the increasing disposable income in both the developing and developed economies, the commercial viability of such business strategies are growing significantly. Automated guided vehicles play a very important role in such schemes as they are responsible for the transit of a particular shipment. Therefore, growth in the e-commerce sector is giving rise to significant opportunities for the Canadian automated guided vehicle market.
• Application of ML to Boost Business: The utilization of multiple sensors in AGVs is leading to terrific growth of data volumes. Furthermore, warehouse operators are involving third party data management companies to handle and manipulate the data generated. These big data companies are helping warehouse and factory operators with solutions that will save the cost to the company and increase the production and storage of the warehouse or a factory. Thus, with the growing prevalence and importance of data, operations in a factory can be improvised with the help of automated guided vehicles.  
• Medical Assistant AGV: Integration of technical assistance in hospitals is improvising the day-to-day operations in the healthcare industry. Microrobotics is witnessing increased R&D activities in Canada.Microrobotics is considered a great contribution to minimally invasive surgeries, and has resulted in the development of new generation miniaturized tools for surgery. Microrobots are a miniaturized representation of automated guided vehicles that can change the paradigm of medical operations. Therefore, increasing investments in the healthcare industry is supporting the customization of automated guided vehicles, thereby supporting the Canada automated guided vehicles market.
• AGV for Small Manufacturing Enterprises (SME): Conventionally, automated guided vehicles were only used for transporting heavy and very large loads. However, with growth in the number of small manufacturing enterprises, the demand for AGVs is also being seen from SMEs. Automated guided vehicles with navigation systems and built of light-weight materials are being incorporated in SMEs to fulfill the requirements of small-scale material handling.

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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.

Related Report:

Automated Guided Vehicle Market

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