Market Size of India Industrial Automation Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 15.12 Billion |
| Market Size (2029) | USD 29.43 Billion |
| CAGR (2024 - 2029) | 14.26 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Industrial Automation Market Analysis
The India Industrial Automation Market size is estimated at USD 15.12 billion in 2024, and is expected to reach USD 29.43 billion by 2029, growing at a CAGR of 14.26% during the forecast period (2024-2029).
Industrial automation refers to using control systems, like robots, computers, and information technologies, to handle several processes and machinery in an industry to replace human beings. It is the second step past mechanization in the scope of industrialization.
- The Industrial Internet of Things and Industry 4.0 is at the center of the latest technological approaches for the evolution, production, and management of the complete logistics chain, also known as smart factory automation, and are dominating the trends in the industrial sector with machinery and devices being connected via the internet.
- Labeling equipment is a crucial component for production lines in several industries. In addition to the basic structure, the machines also feature an automatic label feeder to keep track of label length and retrieve it as the product changes size. These features are beneficial in reducing downtime, increasing productivity, and reducing costs.
- Moreover, The adoption of automated equipment in the healthcare industry is expected to grow, owing to the growing manufacturing sectors in India. Major trends, such as the growth of private healthcare providers, the expansion of drug manufacturing companies, and the rollout of universal healthcare, are expected to shape the pharmaceutical industry in the future.
- The installation and acquisition cost of an automation system for an intelligent factory represents approximately half of the total cost during its lifetime. Further, the frequent changes in networking and technology result in substantial cost increases, which is more than the initial investment, further restraining the adoption of industrial automation in India
- The COVID-19 outbreak and lockdown restrictions worldwide severely affected industrial activities. The effects of the lockdown include labor shortages, disruptions in the supply chain, lack of availability of raw materials utilized in the manufacturing process, fluctuating prices that could force the production of the final product to increase and go beyond budget, shipping problems, etc.
