Indian Industrial Automation Market is expected to reach $4.43 billion by 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 the market.
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Indian industrial automation market: Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023” (July 2017).
According to Infoholic Research, the Industrial Automation Market is changing the dynamics of discrete and process manufacturing industries by automating the workflow in the value chain and supply chain. The automation improves the efficiency and quality of output and maintains consistency throughout the micro and macro-level processes across the industries. It has become essential for companies to maximize their productivity through automation owing to the changing demands of the end-users. The Indian Industrial Automation Market is expected to grow at a CAGR of 11.6% during the forecast period 2017–2023.
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The market is segmented by three automation types, namely process automation, factory automation, and electric automation. The market is driven by the increased investments in the secondary manufacturing sector owing to the favourable government policies and changing customer behavior. The country aims to improve its infrastructure capabilities to attract more global investors and to boost its manufacturing capabilities. Several Indian industries are upgrading their existing automation technologies to reduce the production time and promote safety and efficiency in the manufacturing or processing units.
The market is further segmented by technologies used in industrial automation such as distributed control systems (DCS), programmable logic control (PLC), supervisory control and data acquisition (SCADA), manufacturing execution system (MES), and human machine interface (HMI). The demand for DCS systems is increasing in India primarily to overcome the expensive third-party integration solutions and flexible field instruments. The demand for SCADA systems is driven by increasing investments to address power transmission problems across industries. The demand for PLCs is mostly driven by process manufacturing companies.
The end-user segment covers the automotive industry, power, oil & gas, food processing, pharmaceutical, and chemical. Power, oil & gas, and automotive industries are the forefront adopters of different automation technologies owing to the need for promoting efficiency and plant safety at the same time. The other industries, such as chemicals, food processing, and pharmaceuticals, are adopting these technologies at a slower rate. The pharmaceutical industry is predicted to show a higher adoption rate for industrial automation capabilities, growing at a CAGR of 15.0% during the forecast period.
“The growth rate of the Indian Industrial Automation Market is greater than the global average and the country is improving its industrial infrastructure capabilities to attract investments in the manufacturing sector. The country is taking measures to become a global hub for R&D activities in a gamut of industries.” Srujan, Research Analyst at Infoholic Research.
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The report covers the present scenario and the growth prospects of the Indian Industrial Automation Market during the forecast period. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- The report is analyzed based on automation types, technology, and verticals.
- The report covers the evolution of industrial automation, features, advantages, and its importance.
- The report covers drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast years.
- The report contains an in-depth analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views; and competitive landscape, which includes vendor assessment.
- The automation types analyzed in the report are process automation, factory automation, and electric
- The report covers several technology types, namely DCS, SCADA, PLC, MES, HMI, and others.
- The report covers the implementation of automation technologies in the end-user industries such as power, oil & gas, automotive, pharmaceutical, food processing, chemicals, and others.