Industry Economics

Over the past five years, the Automated Guided Vehicle (AGV) Manufacturing industry has rapidly expanded.

Industry operators design, manufacture and install AGVs, which are mobile robots used for material handling and tracking or repetitive tasks.

Persistent economic growth has been driven by strong gains in consumer spending.

As a result, more manufacturers, logistics companies and others purchased AGVs to move the rising amount of goods throughout their facilities while reducing manual labor costs.

In particular, operators in these sectors used AGVs to improve efficiency and reduce operating costs in the long term.

As a result, industry revenue is expected to climb at an annualized rate of 25.5% to $804.5 million over the five years to 2020, including a 10.7% increase in 2020 alone.

Art Supply Stores offer a wide variety of art materials, from art mediums, canvases and surfaces, art equipment and accessories, and sculpting and modelling items. Because of its decentralized structure, the market is dominated by diverse macroeconomic factors rather than product-specific patterns. Individual segments, on the other hand, lead to complex changes in artists’ medium and surface preferences. Rising per capita disposable income has increased demand around the retail sector across the next five years, up to 2020. However, art supplies stores are facing heightened competition from big-box supermarkets and online rivals, which is diminishing the benefits of increased investment. As a result, market income is expected to fall by an annualized 2.6 percent to $789.2 million over the next five years, reaching $789.2 million in 2020. Industry sales is expected to fall 7.1 percent in 2020 due to global slowdowns and temporary shop closures caused by the COVID-19 (coronavirus) pandemic.

Pain Galleries and auction houses that sell original works of art make up the Art Dealers market. The sector is extremely divided, with the majority of operators employing only one or four people. There are only a few major auction houses in the industry, such as Sotheby’s and Christie’s. The Art Dealers sector has benefited from growth in disposable income and the percentage of households making more than $100,000 over the five years to 2020. However, the era was also characterized by political and economic instability, which caused sales declines sufficient to offset growth. Overall, sales for the Art Dealers sector is expected to fall by 5.9 percent on an annualized basis, totaling $7.5 billion. Revenue is expected to decline 28.7 percent in 2020 due to the COVID-19 (coronavirus) pandemic and its economic implications. Profitability in the industry is also expected to fall.

The Art and Office Supply Manufacturing industry produces a variety of art and office materials, such as markers, pencils, staplers, and marking machines. Overall, the sector has faced difficulties in the five years leading up to 2020. For example, the widespread usage of computers in schools and workplaces has resulted in the use of these machines rather than pens and pencils, stifling business development. Furthermore, companies throughout the United States have shifted to performing activities remotely, necessitating less industry goods. This is particularly true in 2020, when the COVID-19 (coronavirus) pandemic has resulted in work-from-home policies and immersive schooling for students, as well as impacts on the industry’s supply chain. As a result, market income has dropped over the time, falling at an annualized rate of 5.0 percent to $2.7 billion over the five years to 2020, including a 12.8 percent drop in 2020 alone.

Over the five years leading up to 2020, the Armored Vehicle Manufacturing industry experienced substantial expansion. Combat armoured vehicles, such as infantry fighting vehicles, armored personnel carriers, mine-resistant ambush protected (MRAP) vehicles, self-propelled artillery, and armored utility vehicles, are researched, developed, manufactured, modified, and repaired by industry operators. Prior to the five-year mark, industry sales plummeted precipitously as US spending on industry goods decreased. However, in the current five-year cycle, the United States started to boost military budgets and scale up key business projects, reversing the trend. As a result, sector income is forecast to grow at an annualized rate of 3.6 percent to $2.6 billion over the next five years, including a 2.2 percent decrease in 2020 due to the completion of such projects.

Companies in the Armored Transportation Services industry pick up and deliver money, receipts, or other useful things in armored vehicles. For the next five years, the market will have developed in lockstep with the economy. As the economy grew, consumer spending rose, as did the amount of cash purchases. However, the industry has been put under pressure as a result of rising competition, especially from the the prevalence of noncash payment methods and the the bargaining power of banks, the industry’s largest client base. Nonetheless, market income is forecast to rise at an annualized rate of 3.6 percent to $3.2 billion over the next five years, including an 11.8 percent fall in 2020 due to reduced customer spending due to the COVID-19 pandemic.