Automation market in India expected to grow by 15% CAGR in next five years

- Advertisement -

About a dozen companies are considering  forming  a consortium to meet the increasing need for technically skilled and trained personnel of the automation industry in the country. “At the kick-off meeting, all the participating companies in the consortium welcomed the move and expressed willingness to participate in this consortium. They felt colleges like National Institute of Engineering (NIE) should collaborate with automation industry for training graduates to meet its need for trained personnel,” NIE Principal G L Shekar said.

Automation market in India is approximately Rs 18 billion ($ 360 million). This is expected to grow with 15 per cent CAGR over the next five years. The current automation in manufacturing industry is less than 10 per cent of the total capital employed in process and machinery. It is expected to rise to 25 per cent in next five years. “If India has to be recognised as a major manufacturing hub in Asia Pacific, the market has to prepare with investment in automation in order to deliver quality products at a quicker time.

Every year, nearly 20,000 jobs need to be filled in this sector. As there are no readymade automation engineers, the positions are filled recruiting fresh graduated engineers from mechanical, instrumentation and electrical and electronics disciplines.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Rohde & Schwarz Joins Hands with Chemnitz Univ for R&D in Cybersecurity

0
Realizing this two-year cooperation project supports knowledge transfer, safeguards jobs and fosters the industry's independence: ipoque ipoque GmbH, a Rohde & Schwarz company, recently announced...

Rapido, RACEnergy Collab to Deploy Electric Autos in India

0
Battery-swapping tech-enabled e-autos will be deployed in Hyderabad and will be subsequently scaled to other Indian cities The partners termed it a revolutionary...

Aptiv Opens Technical Campus in Bengaluru to support OEMs

0
The $14 million state-of-the-art campus for its centre aims to accelerate the transformation to the software-defined vehicle Center will support OEMs in passenger...

Exclusive

Pandemic Boosted Organic LED (OLED) Tablet Penetration

0
Samsung, making OLEDs since 2014, leads the way Emerging tech and declining manufacturing costs making OLED popular Apple expected to bring OLED iPads...

India’ 22: Premium Segment Share Up by 11%; Overall Fall in Smartphone Shipments

0
Smartphone shipments fell 9% YoY in 2022 in India The premium segment brought 35% of total smartphone market revenue in 2022; Apple led...

ONE Raises $300 mn; Set To Launch LFP Cell Factory

0
Our Next Energy (ONE) raised $300 million in Series B equity led by Fifth Wall and Franklin Templeton Michigan-based energy storage technology company, Our Next...

Important Sectors

Rohde & Schwarz Joins Hands with Chemnitz Univ for R&D in Cybersecurity

0
Realizing this two-year cooperation project supports knowledge transfer, safeguards jobs and fosters the industry's independence: ipoque ipoque GmbH, a Rohde & Schwarz company, recently announced...

Rapido, RACEnergy Collab to Deploy Electric Autos in India

0
Battery-swapping tech-enabled e-autos will be deployed in Hyderabad and will be subsequently scaled to other Indian cities The partners termed it a revolutionary...

Aptiv Opens Technical Campus in Bengaluru to support OEMs

0
The $14 million state-of-the-art campus for its centre aims to accelerate the transformation to the software-defined vehicle Center will support OEMs in passenger...

SET Launches Solar Boost Tech for Water and Gas AMI Endpoints

0
Claiming the technology to be a game changer, the company said that it is environmentally durable and extends the endpoint battery to a 20-year...

Hit By Weak Smartphone Demand, Qualcomm Revenue Falls 12%

0
Qualcomm posted a downcast earnings outlook after the chipmaker was hit by the decline in the handset market. Semiconductor manufacturer Qualcomm reported a 12% decline...

Manufacturing

Infineon Beats Estimates With Stellar Q1 Results

0
The demand for chips by automakers has led to a steady rise in profits for Infineon. German semiconductor manufacturer Infineon Technologies topped estimates of its...

Honda, GM Partner To Develop Hydrogen Fuel Cell

0
The global hydrogen fuel cell vehicle market is estimated to generate $43,208.3 million by 2031. Japanese automaker Honda Motor Co announced that it would collaborate...

Adding The Edge In The Embedded Edge Market With SiMa.ai

0
SiMa in Hindi means edge, and that is exactly what this startup has brought to the embedded edge market. By integrating machine learning on...

Foxconn Hires Former Nidec CEO As Strategy Chief For EVs

0
Foxconn Technology group's latest hire has decades of experience in the automotive industry with names such as Nissan and Dongfeng Motors in his portfolio. Foxconn...
Bharat

Bharat Electronics Misses Profit Estimates For Q3

0
Bharat Electronics has declared an interim dividend of 60% payable to all the eligible shareholders holding shares as of the record date. Shares of Bharat...