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The India industrial automation and instrumentation market is forecast to increase by USD 26.57 billion, growing at a CAGR of 9.51% between 2023 and 2028. The increasing simplification of manufacturing processes, driven by advancements in automation and digital technologies, is making production more efficient and cost-effective. The shift toward lean manufacturing, which focuses on minimizing waste and maximizing value, is helping companies improve their operational efficiency and competitiveness. Additionally, the rising need for the efficient use of resources and reduction of emissions is leading to the adoption of sustainable practices and technologies, which is not only environmentally beneficial but also cost-effective in the long run.
Market Forecast 2024-2028
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This market research report extensively covers segmentation by end-user (process industry and discrete industry) and product (industrial automation and industrial instrumentation).
The process industry segment will account for a major share of the market's growth during the forecast period. The growing energy demand has encouraged companies in India to explore new conventional and non-conventional hydrocarbon resources. Such exploration has driven the demand for automation and instrumentation solutions in the oil and gas, chemical and petrochemical, and power industries. The oil and gas industry has the highest share of the country's overall energy mix.
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The process industry segment was valued at USD 24.24 billion in 2018. Process industries such as pharmaceutical, textile and apparel, power, as well as food and beverages, have also observed a strong demand. The increasing energy demand and the need to raise the capacity of the refineries are expected to attract investment in the energy sector, which will drive the demand during the forecast period.
Based on product, the market has been segmented into industrial automation and industrial instrumentation. The industrial automation segment will account for the largest share of this segment.?It encompasses a broad spectrum of products and solutions dedicated to streamlining and enhancing processes in industrial environments. This segment includes various product categories that are instrumental in revolutionizing the way industries operate. Such product categories collectively drive increased productivity, improved quality, and cost-effective operations in various industrial sectors, such as manufacturing. Hence, automation in the industrial sector will drive the growth of the market through the segment during the forecast period.
The market is driven by a focus on energy efficiency, cost optimization, and productivity. The adoption of digital technologies such as the Industrial Internet of Things (IIoT), machine learning, and artificial intelligence is enhancing industrial automation and resource management. Automation technologies like SCADA, DCS, PLC, and HMI are improving production efficiency and reducing operating costs. In the global industrial environment, India is investing in automation solutions such as process analyzers and transmitters to drive capital investment and market growth. Industries like manufacturing, oil & gas, food & beverages, and chemicals are embracing Industry 4.0 and cyber-physical systems to integrate IoT and cloud computing into their operations, further propelling the growth of the market. Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Lean manufacturing is a method used to reduce waste in manufacturing processes while maintaining or improving productivity. Control systems in discrete manufacturing have enhanced operational efficiency, promoting sustainable development. They focus on energy efficiency, cost optimization, and productivity while minimizing errors and ensuring scalability through the use of digital technologies. The preference for lean manufacturing has led to a continuous demand for automated solutions and systems among process and discrete manufacturers.
In the process industry, control systems play a crucial role in synchronizing manufacturing tasks, monitoring inventory movements, ensuring security, and improving quality. These systems provide real-time updates to operators on the shop floor, enabling detailed recording of process data, conditions, and results. This is particularly relevant in the context of Industry 4.0, where manufacturing firms in industries such as oil & gas, food & beverages, and chemicals rely on automation technologies such as SCADA, DCS, PLC, and HMI for efficient process automation. They also control the manufacturing process, reducing defect rates. Control systems support the timely execution of production processes, responding and reporting on plant activities as they occur, thus eliminating unnecessary activities. The shift toward lean manufacturing is expected to drive market growth in the forecast period.
Big data analytics and the IoT are innovative technologies in the manufacturing sector that provide companies with a competitive advantage. The integration of IoT into big data analytics has enhanced production processes. The integration of automation control systems and big data analytics provides the ability to predict future risks and take the required steps for risk mitigation. It helps in proper decision-making as it gives information accurately and identifies the actual cause of a given problem.
Furthermore, automated systems such as SCADA, MES, and DCS generate a lot of data, and the adoption of IoT in manufacturing has raised the total amount of data generated by a single factory. Moreover, the growing digitalization will help the Indian market observe the rising adoption of IoT-enabled devices and big data analytics, which will drive the growth of the market in focus during the forecast period.
The adoption of IIoT and connected technologies has eased the operation process, but they have raised the risks of cybersecurity in operational processes. Industrial automation and instrumentation ease many tasks for manufacturers. However, they are prone to cyber threats. Hackers exploit confidential corporate information by attacking classified networks within organizations. In addition, the primary cyber threats in the discrete industry include operational downtime, manipulation in the product development procedure, and theft of sensitive information.
Moreover, India is a part of the bigger digital world, due to which it remains vulnerable to digital intrusions such as cyber espionage, cybercrime, and digital disruption. Cybercrime in India is rising due to loopholes and complications of new technological platforms, which can become a threat to the market in India during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
AMETEK Inc., Danfoss AS, Delta Electronics Inc., Eaton Corp. Plc, Emerson Electric Co., Flowserve Corp., Fuji Electric Co. Ltd., General Electric Co., Honeywell International Inc., Keyence Corp., Mitsubishi Electric Corp., Parker Hannifin Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schlumberger Ltd., Schneider Electric SE, Siemens AG, The Weir Group Plc, and Yokogawa Electric Corp.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market is witnessing significant growth driven by various industries like oil & gas, food & beverages, and chemicals. This growth is fueled by the need to reduce human errors, improve production cycle times, and enhance resource efficiency. Automation software solutions are being increasingly adopted by small businesses to streamline operations, from raw material procurement to finished product. Investments in system installation, maintenance, and upgrades are on the rise, especially in field instruments and plant assets. Enhanced plant safety, data acquisition, and measurement using sensors and semiconductor components are key focus areas for manufacturing organizations. Standardization and waste reduction are also driving factors in this market.
Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.51% |
Market Growth 2024-2028 |
USD 26.57 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.87 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., AMETEK Inc., Danfoss AS, Delta Electronics Inc., Eaton Corp. Plc, Emerson Electric Co., Flowserve Corp., Fuji Electric Co. Ltd., General Electric Co., Honeywell International Inc., Keyence Corp., Mitsubishi Electric Corp., Parker Hannifin Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schlumberger Ltd., Schneider Electric SE, Siemens AG, The Weir Group Plc, and Yokogawa Electric Corp. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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