Automation Industry Growth in India
Automation has been a rapidly growing industry in India, with a large number of companies adopting automation technologies to increase efficiency, reduce costs, and improve their competitiveness.
The automation industry in India has seen significant growth in recent years and has been a major contributor to the country's economic development.
The automation market in India is expected to grow at a compound annual growth rate (CAGR) of around 15% from 2020 to 2025. The market size is expected to reach USD 40 billion by 2025 from USD 22 billion in 2020.
The growth of the automation industry in India can be attributed to the increasing demand for automation in various industries such as manufacturing, healthcare, and finance.
Applications in various industries
Automation has a wide range of applications in various industries, and India has been actively exploring the potential of automation in these industries.
For example, the manufacturing industry in India has been using automation for process optimisation, quality control, and supply chain management.
The healthcare industry has been using automation for the early detection of diseases, drug discovery, and telemedicine. The finance industry has been using automation for credit scoring, fraud detection, and personalised investment advice.
Investments and Start-ups
India has seen a significant increase in investments in automation start-ups over the past few years. Many global companies are setting up research and development centres in the country, and a large number of Indian start-ups are emerging in the field.
According to a report, more than 100 automation start-ups have been established in India, and the number is expected to grow in the coming years.
The Indian government has been actively supporting the growth of the automation industry in the country. The government has launched several initiatives to promote automation research and development and attract field investments.
For example, the Ministry of Electronics and Information Technology has launched the National Centre for Automation, which will focus on developing automation technologies and applications.
The automation industry in India has been growing rapidly in recent years, and the growth is expected to continue in the coming years. The country has established itself as a hub for innovation and development in the automation industry and has attracted investments from global companies and start-ups.
The government's support has been instrumental in the growth of the automation industry in India, and the country is expected to play a major role in shaping the future of automation globally.