Industrial Automation and Instrumentation Market in India to grow by USD 1.92 bn |Simplification of Manufacturing through Automation to Drive Growth|17000+ Technavio Reports
NEW YORK, Jan. 10, 2022 /PRNewswire/ -- The industrial automation and instrumentation market share growth in India by the industrial automation segment will be significant for revenue generation. The industrial automation market in India is mainly driven by the business imperative to use resources efficiently, improve productivity, and optimize plant operations. Government regulations that seek to control carbon dioxide emissions by limiting power consumption and the need to minimize wastage of raw material are also driving this market. The industrial automation and instrumentation market in India is expected to grow by USD 1.92 billion from 2020 to 2025, progressing at a CAGR of 8.62% as per the latest market report by Technavio.
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Industrial Automation and Instrumentation Market in India: Driver & Challenge
Simplification of manufacturing through automation to drive growth
The key factor driving growth in the industrial automation and instrumentation market in India is the simplification of manufacturing through automation. Over the past years, automation in manufacturing has been transforming the factory floor and economics of many manufacturing sectors. Advancements in robotics, artificial intelligence, and machine learning are enabling machines to outperform humans in a range of work capabilities that require cognitive capabilities. Some of the advantages of automation manufacturing include an increase in labor productivity, low labor cost, elimination of routine work, high work safety, high product quality, and a decrease in lead time. As automated systems can easily adapt to operational changes, it reduces the time taken to collect data and increases the efficiency of the overall production process.
Cybersecurity threats to hinder the market growth
The cybersecurity threats will be a major challenge for the industrial automation and instrumentation market in India during the forecast period. The process and discrete industries are migrating toward complete automation by using smart manufacturing technologies. The adoption of IIoT and connected technologies have eased the operation process, but they have increased the risks of cybersecurity in operational processes. Hackers exploit confidential corporate information by attacking classified networks within organizations. Industries such as medical devices, consumer durables, and automotive industries' production processes are very sensitive. With the growing number of product patents and high volume of confidential data, it is becoming very difficult for discrete industrial operators to adopt automated devices and the Internet of Things (IoT) due to the looming threat of cyber-attacks. Cybercrime in India is rising due to loopholes and complications of new technological platforms, which is a threat to the industrial automation and instrumentation market in India.
The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge. The industrial automation and instrumentation market in India analysis report also provides detailed information on other upcoming trends that will have a far-reaching effect on the market growth.
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Industrial Automation And Instrumentation Market In India: Segmentation Analysis
This market research report segments the industrial automation and instrumentation market in India by Product (Industrial automation and Industrial instrumentation) and End-user (Process industry and Discrete industry).
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Some of the key topics covered in the report include:
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