increasing simplification of manufacturing through automation is driving the Industrial Automation and Instrumentation Market in India
Technavio analyzes that the Industrial Automation and Instrumentation Market in India is expected to grow at a CAGR of 9.51% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 26570.09 million.There are various factors that contribute to the growth of the market. The Industrial Automation and Instrumentation market in India is witnessing significant growth due to the increasing trend towards manufacturing simplification through automation. Companies are increasingly adopting advanced technologies such as Internet of Things (IoT), Machine-to-Machine (M2M) communication, and Industrial Internet to streamline production processes and enhance operational efficiency. The market is expected to grow at a CAGR of over 10% during the forecast period, driven by the government's 'Make in India' initiative and increasing focus on digitization in the manufacturing sector.
The industrial automation and instrumentation market in India is primarily driven by the process industry, which encompasses sectors such as oil and gas, chemical and petrochemical, textile and apparel, mining and metals, water and wastewater, food and beverages, power, and pharmaceuticals. The oil and gas industry, which holds the largest share in India's energy mix, is experiencing significant growth due to increasing energy demand and exploration of conventional and non-conventional hydrocarbon resources. The Indian government's recent reforms, including 100% foreign direct investment (FDI) and the introduction of goods and services tax (GST), have simplified business operations for both domestic and international players in these industries. Capital investments in automation solutions, including process analyzers and transmitters, are on the rise to enhance operational efficiency and productivity. The adoption of cyber-physical systems, a key component of Industry 4.0, is also gaining traction in manufacturing firms to optimize production processes and improve product quality.
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Industrial Automation and Instrumentation Market in India Segmentation
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In the Indian industrial landscape, the Instrumentation market is witnessing significant growth driven by the adoption of automation technologies for energy efficiency, cost optimization, and productivity enhancement. Digital advancements such as IIoT, machine learning, and artificial intelligence are transforming industrial processes, reducing errors, and ensuring scalability. Automation solutions including SCADA, DCS, PLC, HMI, process automation, and instrumentation are key investments for manufacturing firms in sectors like oil & gas, food & beverages, and others. Industry 4.0's cyber-physical systems, IoT, and cloud computing are revolutionizing production efficiency, operating costs, and the global industrial environment. Resources are being optimally utilized through advanced automation technologies, making India a hub for innovation and progress.
The Industrial Automation and Instrumentation (IA&I) market in India is a significant segment of the global Electrical Components and Equipment (ECE) market. According to Technavio, this market encompasses businesses involved in the production of automation solutions, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Key drivers for the Indian IA&I market include energy efficiency, cost optimization, and productivity enhancement. Digital technologies, such as the Industrial Internet of Things (IIoT), machine learning, and artificial intelligence, are transforming the sector, enabling scalability and error reduction. The global ECE market size is determined by the combined revenue generated by manufacturers of various electrical products, including water heaters and accessories, motors, motor control, encoder and amplifier, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, and more.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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