Understand the Booming Industrial Automation Market in India
In the fast-evolving landscape of India, estimated at USD 15.12 billion in 2024, the emphasis on industrial automation market size is evident. Poised to reach USD 29.43 billion by 2029, showcasing a remarkable CAGR of 14.26%, this market is at the forefront of technological evolution. Let’s delve into the intricacies of the industrial automation market reports, exploring key trends, challenges, and the influential role of automation in shaping India’s industrial future.
The Essence of Industrial Automation
In the realm of industrialization, automation takes center stage, leveraging control systems, computers, and information technologies to replace manual intervention. It marks a significant leap beyond mechanization, optimizing processes and machinery in various industries.
Industrial Internet of Things (IIoT) and Industry 4.0
The convergence of IIoT and Industry 4.0 has become the cornerstone of technological advancements in smart factory automation. Machinery and devices interconnected through the internet redefine the industrial landscape, emphasizing efficiency, productivity, and seamless logistics.
Labeling Equipment: Streamlining Production Lines
Labeling equipment plays a pivotal role in diverse industries, enhancing efficiency by minimizing downtime, increasing productivity, and reducing costs. Automatic label feeders prove to be instrumental in adapting to product size changes.
Automation in Healthcare
The healthcare sector in India is witnessing a surge in automated equipment adoption. Factors like the growth of private healthcare providers, expansion in drug manufacturing, and the rollout of universal healthcare are shaping the pharmaceutical industry’s future.
Cost Dynamics: Unveiling the Challenges
The installation and acquisition cost of automation systems represent a significant portion of the total lifetime cost. Fluctuations in networking and technology, coupled with frequent changes, pose challenges, restraining widespread adoption in India.
Impact of COVID-19: Unraveling Disruptions
The global pandemic disrupted industrial activities worldwide, leading to labor shortages, supply chain disruptions, and fluctuating raw material prices. These challenges underscored the importance of resilient and adaptive automation systems.
India Industrial Automation Market Trends
HMI Takes Center Stage
Human-Machine Interface (HMI) emerges as a crucial component, fostering interaction between individuals and machines. Widely used in manufacturing, it enhances data visualization, production tracking, and KPI monitoring, ultimately boosting overall efficiency.
HMI Applications Across Industries
HMI technology finds applications across diverse sectors, including energy, oil and gas, transportation, food and beverage, power, water and wastewater, manufacturing, and recycling. Its adaptability contributes to optimizing industrial processes.
Understanding The Key Trends Shaping This Market
Factory Automation in the Automotive Sector
The automotive industry, a major player in automated manufacturing, is witnessing a paradigm shift with the rise of electric vehicles. Automation, particularly in assembly lines, ensures precision, efficiency, and workforce safety.
Dominance of Two-Wheelers in Indian Automobiles
The two-wheeler segment dominates the Indian automobile market, driven by a growing middle-class population. Initiatives like the scrappage policy and Automotive Mission Plan 2026 further bolster India’s position in the global automotive industry.
Key Players Driving Market Dynamics
For, India’s industrial automation market players have a competitive arena with companies like BHEL, ABB Limited, Mitsubishi Electric, and more. Innovations, partnerships, and acquisitions are instrumental in increasing market shares and driving sustainability.
India Industrial Automation Industry Overview
Technological Advancements in Piece-Picking
In June 2023, Schaefer Systems International launched a fully automated piece-picking system with advanced features, utilizing artificial intelligence for object recognition, pick-and-place, and gentle product handling.
Mitsubishi Electric’s Strategic Acquisition
Mitsubishi Electric’s acquisition of ICONICS UK, Ltd. signifies a strategic move to establish a Circular Digital-Engineering business model, optimizing factory-automation solutions.
India Industrial Automation Market Leaders
Dominant Players
Key market leaders include Daifuku India Private Limited, Space Magnum Equipment Private Limited, Godrej Koerber Supply Chain Limited, and Kardex India Storage Solutions Private Limited.
Conclusion
India’s industrial automation market is on an upward trajectory, fueled by technological innovations, strategic acquisitions, and the resilience to adapt in the face of challenges. As the nation gears up for a future driven by automation, it’s essential to stay abreast of evolving trends and emerging players.
Frequently Asked Questions (FAQs)
1. How is industrial automation contributing to the growth of the healthcare sector in India?
Answer: Industrial automation is witnessing increased adoption in the healthcare sector, driven by factors such as the growth of private healthcare providers and the expansion of drug manufacturing.
2. What role does Human-Machine Interface (HMI) play in industrial settings?
Answer: HMI serves as a crucial interface, facilitating interaction with machines in industrial settings. It enhances data visualization, production tracking, and KPI monitoring, contributing to overall efficiency.
3. How did the COVID-19 pandemic impact the industrial automation sector in India?
Answer: The pandemic led to disruptions in industrial activities worldwide, highlighting the importance of resilient automation systems to navigate challenges such as labor shortages and supply chain disruptions.
4. What are the key trends in the automotive sector regarding industrial automation?
Answer: The automotive industry is experiencing a shift towards automation, particularly in assembly lines, driven by the rise of electric vehicles and a focus on precision and efficiency.
5. Who are the prominent players in the India Industrial Automation Market?
Answer: Key market leaders include Daifuku India Private Limited, Space Magnum Equipment Private Limited, Godrej Koerber Supply Chain Limited, and Kardex India Storage Solutions Private Limited.
Read More: A Look at Key Segments in the Industrial Engineering Market: Robots Market