India smart manufacturing market is projected to grow at a significant CAGR of around 14.8% during the forecast period (2020-2026). The market for smart manufacturing in India is projected to grow at a high rate during the forecast period, backed by the substantial support from the government for the upliftment of the manufacturing industry in the country. The Government of India launched ‘Make in India’ campaign in 2015, with an aim to increase the contribution of manufacturing to GDP from around 16.0% in 2015 to 25.0% by 2022. This initiative has been supported by the investment in the integration of advanced technologies and digitalization in the country.
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Indian companies have initiated the deployment of smart manufacturing technologies at the company level, which is expected to be implemented end-to-end operations in the company in the near future. To initiate its implement at a country level, the ‘Make in India’ and ‘Digital India’ initiative is heading towards the wider adoption of ‘Industry 4.0’, including the integration of high computing capacity, big data, AI, IoT, and analytics. Moreover, the Smart Advanced Manufacturing and Rapid Transformation Hub (SAMARTH) Udyog Bharat 4.0 is another initiative by the Government of India towards the integration of smart manufacturing in the industrial sector. Such governmental support will drive the smart manufacturing market in India during the forecast period.
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India Smart Manufacturing Market – Segmentation
By Component
- Hardware
- Software & Services
By Technology
- Programmable Logic Controller (PLC)
- Supervisory Controller and Data Acquisition (SCADA)
- Machine Vision
- Distributed Control System (DCS)
- Product Lifecycle Management (PLM)
- Others (3D Printing)
By End-Use Industry
- Healthcare
- Automotive
- Aerospace & Defense
- Oil & Gas
- Food & Beverages
- Others (Chemical and Metals and Mining)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
