India Factory Automation Market to Grow at around 12% by 2020
Government initiatives aimed at increasing domestic manufacturing, along with the need to increase process efficiency to drive factory automation market in India
According to recently released TechSci Research report, “India Factory Automation Market Forecast and Opportunities, 2020”, factory automation market in India is projected to register growth at a CAGR of around 12% during 2015 – 2020. Growth in the market is anticipated on account of growing deployment of various factory automation systems in automotive, chemicals, and other manufacturing units, along with various government initiatives aimed at increasing domestic manufacturing.
Factory automation market in India has been growing at a considerable pace over the last few years, owing to the growing need for a reliable and cost effective method of production, which results in minimization of waste. In addition to making the process more controlled and streamlined, automation solutions also provide better productivity compared to manual labor. On account of these benefits, the deployment of factory automation solutions in various factories is projected to increase during the forecast period.
“Factory automation market in India is exhibiting significant growth due to growing demand from automotive hubs across the country. Further, the Make in India initiative is also expected to play an important role in boosting the adoption of factory automation solutions in the country. With major investments expected in the manufacturing sector in India in the upcoming years, the demand for factory automation solutions in the country is also anticipated to rise over the next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a global management consulting firm.
“India Factory Automation Market Forecast and Opportunities, 2020” has evaluated the future growth potential of factory automation in India, and provided statistics and information on market structure, size, and shares. The report includes factory automation market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India factory automation market.