The industrial automation market of India was evaluated at USD 10.72 billion in 2021, and it is predicted to touch USD 23.09 billion by 2027, at a CAGR of 14.26% during the forecast period (2022 - 2027).
Industrial automation refers to intelligent machines to automate various industrial processes and reduce human intervention.
The Indian industrial automation market has been revolutionized by combining physical and digital aspects of manufacturing to produce optimum performance. Moreover, the focus is to achieve zero waste production, and a minimal time to reach the market has increased the market’s growth. (Source - Mordor Intelligence)
Further, industrial automation improves the quality and efficiency of the output and maintains consistency during the micro and macro-level processes across the industries. The Industrial control systems include various factory automation solutions like SCADA, DCS, PLC, HMI, and many others.
Besides this, the Process automation devices, which have applications in different sectors, such as coal, power, pharmaceutical, oil and gas, cement, and others, have observed a dramatic growth in the manufacturing sector in India. These process automation devices have incremented the expansion of the manufacturing sector in India.
Apart from this, the Industrial IoT and the Industrial 4.0 are all set to make the new technological approaches for developing, and managing the entire logistics chain, known as smart factory automation.
Moreover, the implementation of AI (artificial intelligence), 5G, and 3D printing manufacturing is also envisioned to offer more opportunities for market growth over the forecast period.
In January 2022, Simple Energy, an India-based electric vehicle maker, teamed up with the global technology leader Siemens to bring digital transformation in the electric vehicle (EV) space.
The COVID-19 pandemic has risen the need for automation worldwide. Recently, the automation software companies examined sharp increases in their utilization rates from ~60% to 95–98%.
Even before the COVID-19 period, India was all set to capitalize on the fast-growing robotic process automation (RPA) industry. In fact, there are more than 42,000 hyper intelligent automation (HIA) developers in the country, (35% in Bengaluru and 18% in New Delhi).
There are 2,30,000 employees working in the industrial automation industry in India whereas the count for the same in the world is 2 million.
There are 4500 industrial automation companies in India and 68,000 industrial automation companies in the World.
The top 10 industrial automation companies in India are the following:
- L&T(Larsen and Toubro)
- Titan Engineering and Automation Ltd
- Honeywell Automation India Ltd.
- Schneider Electric
- Rockwell Automation
- ABB India Ltd.
- Siemens India Ltd.
- B&R Industrial Automation Private Ltd.
- EMERSON
- Mitsubishi Electric