Market Report: AGV & AMR Robotics 2020

Agv market fragmentation and vendor proliferation driven by low barriers to entry and off-the-shelf tech has been boosted by covid recovery, though enterprise fleets remain on-premise, delaying optimization.

Market overview

• The global agv market is highly fragmented with over 230 vendors identified globally
• The market has grown 53% between 2010-2020 in terms of number of vendors
• Europe is home to 55% of agv companies globally but north america captures 86% of funding
• The total agv market has attracted nearly $1 billion in funding through 2020

Form factors and navigation

• Agvs come in 3 main form factors – truck, mouse, and fork – each suited for different applications
• Navigation technologies include line follower (magnetic, qr code) and map follower (laser, slam)
• Slam navigation is gaining popularity although magnetic guidance still widely used
• Object avoidance is often requested but rarely used in practice, especially for heavier loads

Vendor business models

• 6 main business models based on make vs buy strategies for hardware and software
• 39% of vendors outsource navigation software due to complexity and regulation
• Low barriers to entry have led to market fragmentation, especially in light payload segment

Impact of covid-19

• Early uniform decline in business, followed by differing recovery paces by geography and sector
• Increased remote support, commissioning, and customer interest in financing alternatives
• M&a activity continued through 2020, likely to accelerate as vendors consolidate

Outlook

• Standards like vda5050 may commoditize hardware but also spur innovation
• Automotive continues to drive technology adoption that trickles to other sectors
• Enterprise robot fleets remain on-premise; delays security patching and optimization
• Lack of used market likely to change with growth of software-driven slam vehicles