India: $1.92 Bn Growth Expected in Industrial Automation and Instrumentation Market

- Advertisement -

The industrial automation and instrumentation market size in India is expected to increase by USD 1.92 billion between 2020 and 2025, expanding at a CAGR of 8.62 per cent during the forecast period

The industrial automation and instrumentation market in India is majorly benefited by the presence of a large number of regional and global oil and gas companies. The growing demand for energy and the rising competition has led major oil and gas companies in the country to increase their investments in automation technologies to boost productivity and reduce operational expenditure,” read a report by Technavio.

It continued, “Besides, rising investments by regional governments in renewable energy have further increased the scope for industrial automation in India. All these factors are creating huge growth opportunities for companies offering industrial automation solutions.”

- Advertisement -

By product, the market will generate maximum revenue in the industrial automation segment. The growing importance of predictive maintenance to ensure uninterrupted operations will be crucial in driving the growth of the segment.

Similarly, in terms of end-users, the market will witness maximum demand for industrial automation and instrumentation solutions from the process industries during the forecast period. The growth of the oil and gas, chemical and petrochemical, textile and apparel, mining and metals, water and wastewater, food and beverages, power, and pharmaceutical industries will foster the growth of the segment.

The market is mainly driven by the simplification of manufacturing through automation and the shift toward lean manufacturing. Advances in robotics, AI, and machine learning have simplified complex operations in the manufacturing sector. They have also resulted in increased labor productivity, improved quality, reduced labor cost, decreased lead times, and high work safety.

In addition, the rising need for efficient use of resources and reduction of emissions will create new growth opportunities for market players. On the other hand, cyber security threats and high upfront and upgradation costs of automation solutions will reduce the growth potential of market players.

- Advertisement -

Most Popular Articles

Mukul Yudhveer Singh
Mukul Yudhveer Singh
Mukul Yudhveer Singh is an Editor at EFY. He’s an experienced business journalist who is both an enthusiast and a cynic of technology. Believes in data, as well as hunch-based journalism. He defines journalism as- reporting facts which help the audience take their own decisions, not ones that influence them!

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Saurav Kumar Singh, the Founder of Elecbits

“We Aim To Attract Companies From The US And UK To Manufacture In India...

0
In a discussion with EFY’s Nitisha, Saurav Kumar Singh, the Founder of Elecbits, elaborates on its design and manufacturing procedures. Additionally, he highlights a...

NITI Aayog Report Urges To Boost Electronics Global Value Chain

0
Aiming for the country to become a global hub for electronics manufacturing, the recent report by NITI Aayog called for interventions, analysing India’s position...

Global PC Market Up 3.1% YoY, AI Boom Ahead

0
Predicting an upcoming AI PC demand surge in the year's second half, the global PC market warms up with a 3.1% year-on-year increase in...

Buzz

Toshiba Increases Transformer Capacity, Invests $5 Billion

0
Toshiba increases transformer capacity by 1.5 times and invests $5 billion in India to expand its operations and meet growing demand. On Thursday, Toshiba Group...

BMW Advocates For Open-Source Software, Joins Eclipse SDV Group

0
The German car manufacturer has joined the Eclipse SDV Working Group as a strategic member, enhancing international cooperation on open-source software technologies for contemporary...

TATA POWER RENEWABLE ENERGY & NHPC Partner To Solarise Government Building

0
Tata Power and NHPC partner to install rooftop solar on government buildings, aiming for 100% solarisation by 2025 under PM Surya Ghar Yojana. On Thursday,...

Important Sectors

Toshiba Increases Transformer Capacity, Invests $5 Billion

0
Toshiba increases transformer capacity by 1.5 times and invests $5 billion in India to expand its operations and meet growing demand. On Thursday, Toshiba Group...

NITI Aayog Report Urges To Boost Electronics Global Value Chain

0
Aiming for the country to become a global hub for electronics manufacturing, the recent report by NITI Aayog called for interventions, analysing India’s position...

BMW Advocates For Open-Source Software, Joins Eclipse SDV Group

0
The German car manufacturer has joined the Eclipse SDV Working Group as a strategic member, enhancing international cooperation on open-source software technologies for contemporary...

TATA POWER RENEWABLE ENERGY & NHPC Partner To Solarise Government Building

0
Tata Power and NHPC partner to install rooftop solar on government buildings, aiming for 100% solarisation by 2025 under PM Surya Ghar Yojana. On Thursday,...

Budget Hydrogen Cell Startup Protonas Secures Funding From Transition VC

0
The company intends to implement its solutions to provide affordable backup power options in North American markets. It also plans to supply fuel cell...

Manufacturing

NITI Aayog Report Urges To Boost Electronics Global Value Chain

0
Aiming for the country to become a global hub for electronics manufacturing, the recent report by NITI Aayog called for interventions, analysing India’s position...

HPL Electric Teams with G Ramway To Make Relay Switches

0
Eyeing India’s self-sufficiency goals, smart meter manufacturer HPL Electric has inked a deal with China-based G-Ramway Technology to boost local manufacturing off switches. Last week,...

Sparsh CCTV Invests $3 Billion To Boost Manufacturing

0
Sparsh CCTV invested $3 billion to enhance production capacity, aligning with 'Make in India' for surveillance equipment, focusing on scaling operations in Kashipur. Sparsh CCTV ...

Cooper Standard Launches Ecoflow For Electric Vehicles

0
This scalable fluid control technology, which can be used across various powertrains, is particularly effective for managing the intricate glycol thermal needs of fully...

Economic Ties Strengthens Between Taiwan And India

0
According to the trade body Chairman, James Huang, Taiwanese firms relocate supply chains from China to India, boosting India’s manufacturing and bilateral trade. As global...