The Indian Industrial Automation Market size was valued at USD 5 Billion in 2018. It is further expected to grow at a CAGR of 12% during 2017-2023. Rapid adoption of digital technologies, reduced production cost, the need to remain competitive and the need for improved quality and reliability are expected to drive this market further.
The market is segmented by three automation types, namely Process automation, Factory automation and Electric automation. Several Indian companies are upgrading their existing automation technologies to reduce the production time and promote safety and efficiency in the manufacturing or processing units.
Factory Automation becomes more and more important for competitiveness of companies. Recent developments in factory optimization have forced the need to adapt machinery and other processes to make manufacturing more effective. Industrial Automation sector is opening up many opportunities for technology companies that are innovative and can cater to automotive or agricultural companies.
The number of robot installations has been growing rapidly for several years now. Between 2013 and 2018, India saw a compound annual growth rate of 20%.
Today, the automotive industry is the largest adopter of Automation and Robotic solutions in India. The automotive industry remains the largest customer industry by far, with a share of 44% of total installations for industrial Robots. We are also seeing segments including food and beverage, consumer packaged goods, electronics and the logistics industry starting to adopt Automation and Robotics at a much faster pace. India’s growing middle-class population is fuelling new consumption patterns, such as a shift towards packaged food for example and this is creating a need for flexible Automation and Robotic solutions in these new segments.
Automation Component Manufacturers
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