India is moving towards Industry 4.0. Hence, the Industrial Internet of Things (IIoT) will emerge as a game-changer for the manufacturing Industry. Known for its large number of engineering graduates and professionals, India provides a great pool of skilled labour for the Industrial Automation sector. This industry has a great present and future prospect. Companies interested in entering India will find good business opportunities in this sector.
Factory optimisation have forced the need to adapt machinery and other processes to make manufacturing more effective. Industrial Automation sector is opening up many opportunities for technology companies that are innovative and can cater to automotive or agricultural companies. Further, factors like innovations in IT, emerging middle class and augmented disposable income help the industry grow in India. Demand is further expected to increase in the coming years as companies need more Automation to remain competitive. Moreover, Industrial Automation is becoming an important part of companies producing in India that apply the latest technologies.
India’s automation potential is illustrated by its low robot density figures: with a value of only four industrial robots per 10,000 employees in the manufacturing industry, India resides at the bottom end of the global ranking.
The industrial automation sector has seen a negative impact due to the COVID outbreak and is expected to grow at a CAGR of 10% in the coming years. The industrial automation and instrumentation market in India is expected to grow by USD 2.58 billion during 2020-2024. The virus has since closed factories, with workers across the world sent home coupled with flat capital expenditure and declining industrial production. It has exposed the fact that, despite a lot of hype over the years, advanced factory automation has not been substituted for human workers at scale.
The statistics below are taken from Industry data available pre-Corona virus impact.
The Industrial Automation Industry in India is still evolving. This is due to increasing Foreign Direct. Investments (FDI) and sustained growth of the manufacturing sector.
Factory Automation becomes more and more important for competitiveness of companies.
India emerges as a preferred sourcing destination for Industrial Automation.
India’s growing manufacturing sector scales up industrial automation equipment demand.
The majority of Industry start-ups in Israel are in the Industrial IoT/ IOT platform, the distribution is as such since many Industry 4.0 companies tend to work with AI and IoT systems, regardless of the sector they are operating Israeli Industry Robotics & Automation, Artificial Intelligence, Cyber Security, Energy, AR/VR, IIOT, Additive Manufacturing and Sensors, focusing on renewable energy, smart cities, homeland security and defense utilizing and Machine Learning.
Relevant companies, interested to learn more on Israel innovative technology are invited to contact the Trade and Economic Department at the Israeli Consulate General in Bengaluru.
Contact: Ms. Kavitha S
Trade Officer -Trade and Economic Mission, Consulate General of Israel to South India (Bangalore). Tel: +91-80-49406515. email@example.com
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