India Industrial Automation Market Forecasts 14.2% CAGR growth till 2027

By admin May 16, 2022 5:28 pm IST

Industrial Internet of Things (IIoT) and the Industrial 4.0 are at the center of the new technological approaches.

India’s industrial automation sector has been revolutionized by combining digital and physical aspects of manufacturing to deliver optimum performance. The India Industrial Automation Market was valued at USD 10.72 billion in 2021 and is expected to reach USD 23.09 billion by 2027 and grow at a CAGR of 14.26% over the forecast period (2022 – 2027) according to Mordor Intelligence report.

The focus on achieving zero waste production and a shorter time to reach the market has augmented the market’s growth. The Industrial Internet of Things (IIoT) and the Industrial 4.0 are at the center of the new technological approaches for developing, producing, and managing the entire logistics chain, otherwise known as smart factory automation. They are dominating the trends in the industrial sector, with machinery and devices being connected via the internet.

In India, the government is trying to create a conducive ecosystem for manufacturing and exporting electronics goods like TVs, closed-circuit TVs, and air conditioners with the help of the members of the Electronics and Computer Software Export Promotion Council. The manufacturing sector contributes 17% of the GDP, with the vision statement aiming to increase the share to 25% by this year-end.