Industrial automation in India
According to the World Economic Forum, India, as the world's largest democracy and the country with the most technical professionals and engineers in the world, will have an important political, social and economic role in the fourth Industrial Revolution. India will become a major hub for AI and is already focusing on the application of the Industrial Internet of Things (IIoT) in manufacturing. India offers companies in this field a large pool of highly skilled workers. In addition, the Indian government is very focused on innovation in this sector. This provides interesting opportunities for companies in this industry that want to start up in India.
COVID-19 Impact
Currently, many sectors in India still lag behind when it comes to automation. This is because labor costs are still low. Therefore, investment in fully automated processes often does not pay off. But the first steps are being taken in the auto industry and agriculture. The demand for innovative and efficient solutions is high there. This development is expected to spread to other sectors as industries in the country grow rapidly due to the emerging middle class and increased disposable income. Indian companies will need automation in the near term to remain competitive. In addition, the increase in foreign companies starting manufacturing in India will add to the demand for automation.
Growth of industrial automation sector in India
India's industrial automation industry is still developing but growing at a rapid pace. This is due to increasing foreign direct investment (FDI) and continued growth across industries.
Factory automation is becoming increasingly important for business competitiveness.
India's growing manufacturing sector is scaling up demand for industrial automation equipment.
India is therefore one of the most popular destinations for companies in the industrial automation industry today.
Key players in the industrial automation sector in India
National players in India
Enpro Industrial Automation
Larsen & Toubro
Titan Automation Solutions
SMEC Automation
Voltas
Adage Automation
International players in India
Siemens
ABB
GE
Endress+Hauser
Schneider Electric
Honeywell
Omron
Mitsubishi Electric
Rockwell
B&R Industrial Automation
IFM Electronic
Market statistics on the industrial automation sector in India
The global industrial automation market size was valued at $157 billion in 2018. It is expected to reach $297 billion by 2026.
The size of the Indian industrial automation market was valued at $5 billion in 2018. The market is expected to grow further by about 10% by 2023.
By 2023, this sector is expected to be worth $4.5 billion in India.
The Indian government aims to significantly strengthen the manufacturing sector. Therefore, this sector is expected to account for 25% to 30% of GDP by 2030.
India ranks third globally in robot automation implementation. As of 2018, there are a total of 74 robot units per 10,000 employees worldwide.
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