![]() Below we highlight a few examples of AGVs in the market today. Today, AGV pricing varies from $35 – 50K (not including supporting software and services). Pricing on AGVs has come down significantly over the last 5 years, which has been a catalyst for the industry. Advancements in Simultaneous Location and Mapping (SLAM) software and computer vision technologies allow these robots to understand their surrounding environment in real-time, which allows them to operate in variable surroundings and around people. Without the need for supporting infrastructure, these robots are more flexible and have a lower total cost of ownership. The major benefits of AGVs are twofold: 1) these robots do not require human interaction when deployed 2) AGVs do not require supporting infrastructure (tracks, floor sensors, etc), which are needed to operate legacy material handling equipment. What Is An Autonomous Guided Vehicle (AGV)?ĪGVs are mobile robots used in manufacturing and other commercial industries to improve logistics efficiencies by transporting goods and other materials autonomously. ![]() However, based on the number of AGVs Amazon is deploying internally, as well as the amount of funding and M&A activity occurring in the space, we are convinced this sub-segment of the commercial robot market is inflecting. While we have recently picked up positive data points in the Co-bot and domestic robot markets, the AGV market is a little bit harder to track due to the limited number of publicly traded companies in the space. We are particularly excited about the impact three categories will have on the world: collaborative robots (co-bots), domestic robots (aka robot vacuums, mops and lawnmowers), and Autonomous Guided Vehicles. Many categories within the 5 robotics domains (industrial, commercial, domestic, military and social entertainment) will flourish over this time frame. When including supporting software and services, we believe the total robotics market will be more than $200B in the next ten years. We believe the aggregate robotics hardware market will grow 17% y/y to $24.5B in 2017, and by 2025 we believe the market will eclipse $73B. ![]() We’ve taken a deep dive into the AGV market, where we identify the different use cases for AGVs, market leaders and opportunity, as well as highlight specific areas where we see the best investment opportunity. Special thanks to Austin Bohlig for his work on this note.Īmazon’s 2012 acquisition of Kiva Systems was the spark that ignited the Autonomous Guided Vehicles (AGV) industry, which we believe will represent a $10B market by 2025.
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