Report Code: A08716 | Pages: NA | Jul 2023 | 2527 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Self-driving Industrial Vehicle Market
Request Now !Self-driving industrial vehicle is an autonomous vehicle that is operated safely without human involvement. The self-driving industrial vehicles uses artificial intelligence technologies, internet of things technology, infrared radars, laser radar (LIDAR), cameras, motion sensors, accurate sensors, and complex algorithms among others that allows the vehicle to automatically drive. The self-driving system or the robotic industrial vehicle is used for the transportation of materials and equipment from one place to another in the industries without any human effort. The self-driving industrial vehicle is categorized into various types such as load transporters, assembly line vehicles, pallet trucks, forklift, tugger AGVs and other such industrial vehicles
COVID-19 scenario analysis:
Top impacting factors: Market Scenario Analysis, Trends , Drivers and Impact Analysis
The increasing number of warehouses owing to the increasing industrialization across various regions is expected to fuel the growth of the self-driving industrial vehicle market. The growing advancement in technology such as artificial intelligence, internet of things, robotics, edge computing, laser radar systems in the industrial vehicle is further expected to fuel the self-driving industrial vehicle market. The shortage of workers in the industries for the transportation of goods and production materials is expected to fuel the self-driving industrial vehicle market. The self-driving industrial vehicle are fully electric and use significantly less energy than the conventional vehicles used in the industries. This in turn creates the demand for the self-driving industrial vehicle as it helps in reducing the pollution. The increasing growth of automotive sector in the Asia-Pacific coupled with rising technological advancements and automation in the automotive industry is expected to fuel the demand for the self-driving industrial vehicle. North America is accounted to hold the largest share in self-driving industrial vehicle followed by Europe. However, the high initial cost of the components such as radar sensors of self-driving industrial vehicle and high maintenance cost can hamper the growth of the self-driving industrial vehicle market.
The global self-driven industrial vehicle market trends are:
New product launches to flourish the market
The rising automation andlaunch of new generation technologically advanced self-driving industrial vehicles can boost the growth of the market. In February 2019, one of the global leader in self-driving autonomous vehicle New Holland is introducing T8 blue tractor that is specifically designed for agricultural applications. The T8 blue tractor equipped with latest radar and accurate sensors helps in determining the soil conditions for higher crop yield.
High demand form applications :
The self-driving industrial vehicle serves for various industrial applications in agriculture, mining, retail, logistics & warehouse, manufacturing and other such industries. The self-driving industrial vehicle are specifically used in the transportation of goods and production materials in various industrial facilities. Further, in agriculture sector the agricultural robotics is driven by the potential autonomous technologies to reduce cost while increasing output. For example, the self-driving tractors equipped with GPS and PID sensor technologies are used to determine the soil conditions, offering guidance on the fertilizer applications and providing opportunities to increase the crop productivity without any human effort. The self-driving trucks in the mining industry are equipped with technologies such as fleet tracking, proximity detection and remote machine operation improves the workers safety and also increase the mine productivity and yield levels.
Key benefits of the report:
Self-Driving Industrial Vehicle Market Report Highlights
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Key Market Players | Scania CV AB, America In Motion, Savant Automation, Inc., Ford Motor Company., Daimler AG, Volkswagen Group, Scott Systems International Inc., General Motors, Seegrid Corporation, Ward Systems, Inc., Otto GmbH & Co KG |
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