![]() There are also a few companies that are taking automation to the next level by adding a robot arm to pick the desired object, taking humans completely out of the equation. While most AGV products need to be fully purchased, there are a few companies capable of retrofitting legacy equipment with autonomous technologies and transforming them into AGVs. Or, more commonly, a human will follow the AGV around a warehouse, and the AGV will stop in front of specific spots where a human then places the desired product in a bin. Robots in these settings autonomously retrieve a shelf or bin and return to a packaging station where a human employee picks specific SKUs out of bin. Today, most AGVs are deployed within warehouses and fulfillment centers to automate material handling and package logistics. These data points show the benefits of AGVs and validate that this market is real.ĪGV Applications: Today Warehouses Tomorrow Hospitals, Hotels, and Beyond According to a 2017 Business Insider article, Amazon has deployed 15K mobile robots annually since 2014, and now has over 45K robots in operation throughout 20 fulfillment centers. Since deploying Kiva robots, Amazon has highlighted publicly the positive impact that robots are having on productivity and efficiencies. ![]() Amazon had no plans to sell these robots externally, only using them internally to improve logistics efficiencies within their fulfillment centers, which created a significant supply/demand imbalance and a massive opportunity for other companies to enter the space. The AGV market flew under-the-radar throughout the early 2000s, but in 2012, the industry became one of the most talked about sub-markets in the robotics space after Amazon acquired the AGV leader (Kiva Systems) for $775M. 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.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |