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India's Industrial Automation Market Is Expected To Grow At A CAGR Of Over 11.17% During 2022-2030

By PR Newswire

PR Newswire
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DUBLIN, Aug. 2, 2023 /PRNewswire/ -- The "India Industrial Automation Market By Component (Hardware, Software), By Industry (Process Automation, Factory Automation, Machine Automation), By Vertical, By Region, Competition, Forecast and Opportunities, 2030" report has been added to ResearchAndMarkets.com's offering.

India's Industrial Automation market, valued at USD 8.23 billion in 2022, is projected to experience robust growth during the forecast period, registering a CAGR of 11.17% until 2030.

Industrial automation involves the optimization and automation of industrial processes using technologies such as robots, control systems, and other devices. It finds applications in various sectors, including manufacturing, food and drink production, automotive, pharmaceuticals, and more.

The primary goal of industrial automation is to increase output, efficiency, and quality while reducing costs and errors. The market is driven by the adoption of connected enterprises, IoT and AI in industrial environments, increasing use of industrial robots for automated production, and the adoption of Industry 4.0 technologies.

The Emergence of Connected Enterprise

The emergence of connected enterprises is driving industrial automation by enabling real-time information exchange among all equipment and systems within a company. This connectivity allows businesses to operate more effectively, with better agility, and adapt quickly to changing market conditions. The use of Internet of Things (IoT) devices and sensors plays a crucial role in advancing industrial automation. IoT devices enable real-time monitoring and control of industrial processes, optimizing operations and reducing costs. For example, sensors can monitor machine performance, predict maintenance needs, and schedule repairs before breakdowns occur, minimizing downtime and enhancing productivity.

Adoption of IoT and AI in Industrial Environments

India has been embracing AI and IoT in industrial settings to increase productivity, efficiency, and competitiveness. IoT devices such as sensors, cameras, and RFID tags are used to monitor and optimize manufacturing processes, manage inventory levels, and improve quality control. Machine learning and AI-powered analytics analyze the data generated by these devices, providing insights that enhance operational effectiveness and cost-saving measures.

Increasing Adoption of Industrial Robots for Automated Production

Industrial robots are increasingly being adopted to improve efficiency, productivity, and quality in various sectors such as automotive, electronics, food and beverage, and pharmaceuticals. These robots offer high accuracy and uniformity, leading to cost savings and improved product quality. Advancements in robot technology are making them more versatile and adaptable, capable of handling complex manufacturing processes.

Adoption of Industry 4.0

India has witnessed an increasing use of Industry 4.0 technologies, especially in sectors like automotive, packaging, metal, and others. IoT-enabled sensors are being used in the industrial industry to monitor machinery in real-time, enabling predictive maintenance and reducing downtime. Industry 4.0's rise in India is changing the production environment, increasing efficiency, and competitiveness.

Challenges: Lack of Skilled Workforce

The demand for high-skilled individuals in industrial automation is growing as industries automate operations to enhance productivity and reduce costs. However, there is a shortage of qualified personnel to develop, install, maintain, and operate automation systems. The relatively new field of industrial automation has resulted in a shortage of graduates with the necessary skills and knowledge.

Recent Developments/Government Initiatives

The India Industrial Automation market is anticipated to grow in West India, including Maharashtra, Pune, and Rajasthan, due to government initiatives such as 'Make in India' and 'Digital India.' The government aims to boost productivity, demand for automation solutions, and services by encouraging the implementation of automation technology across various industries. The Indian government is actively investing in and promoting industrial automation to enhance the manufacturing sector's growth and competitiveness through initiatives like Make in India and Digital India.

Competitive Landscape

  • Honeywell Automation India Limited
  • Rockwell Automation India Pvt- Ltd.
  • Delta Electronics India Pvt Ltd.
  • Yokogawa India Limited
  • Siemens Ltd.
  • Inovance Technology Private Limited
  • Emerson Electric Company (India) Private Limited
  • GE T&D India Limited
  • Omron Automation Private Limited
  • Orion Electronics Private Limited
  • ABB India Limited
  • Schneider Electric India Pvt- Ltd.
  • Mitsubishi Electric India Pvt- Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/82l8z8

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SOURCE Research and Markets

First published on Thu, Aug 3, 2023

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