INDUSTRIAL AUTOMATION SECTOR OVERVIEW-2020
Statistics, news & updates: everything you need to know about the Industrial Automation Industry in India
- COVID-19 Impact
- Industry Clusters
- Growth Drivers
- Key Players
- Market Stats
- Security Systems
Recent developments in factory optimisation 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. Further, factors like innovations in IT, emerging middle class and augmented disposable income help the industry grow in India. Demand is further expected to increase in the coming years as companies need more Automation to remain competitive. Moreover, Industrial Automation is becoming an important part of companies producing in India that apply the latest technologies.
Besides, India is moving towards Industry 4.0. Hence, the Industrial Internet of Things (IIoT) will emerge as a game-changer for the manufacturing Industry. Known for its large number of engineering graduates and professionals, India provides a great pool of skilled labour for the Industrial Automation sector. This industry has a great present and future prospect. Companies interested in entering India will find good business opportunities in this sector.
COVID-19 has significantly affected the technology industry in India. Since the US and Europe are badly hit by the pandemic, India may see a tough time. The industrial automation industry will be largely affected because of the reduced IT spending this year. Margins are expected to be negatively impacted. However, there is likely recovery in the next financial year.
The statistics below are taken from Industry data available pre-Corona virus impact.
- The Industrial Automation Industry in India is still evolving. This is due to increasing Foreign Direct Investments (FDI) and sustained growth of the manufacturing sector.
- Factory Automation becomes more and more important for competitiveness of companies.
- India emerges as a preferred sourcing destination for Industrial Automation.
- India’s growing manufacturing sector scales up industrial automation equipment demand.
Key Players in India
- Siemens, ABB, GE, Endress+Hauser, Schneider Electric, Honeywell, Omron, Mitsubishi Electric, Rockwell, B&R Industrial Automation, IFM Electronic
- Enpro Industrial Automation Pvt. Ltd., Larsen&Toubro, Titan Automation Solutions, SMEC Automation, Voltas, Adage Automation
- The global Industrial Automation Market size was valued at USD 157.04 Billion in 2018. It is expected to reach USD 296.70 Billion by 2026.
- 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% by 2023.
- Indian Industrial Automation Market is expected to reach $4.43 billion by 2023.
- The Indian Industrial Automation Market is expected to grow at a CAGR of 11.6% during 2017-2023.
- The country is expected to strengthen its manufacturing sector. It is expected to reach 25% to 30% of the GDP by FY 2030.
- India ranks third worldwide in implementing robotic automation. As of 2018, there are overall 74 robot units per 10,000 employees globally.