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India automation market: 8% CAGR growth forecast between 2012-2016

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Automation Market in India 2012-2016 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-28 00:53:02
The India automation market is to grow at a CAGR of 7.94 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need to improve the decision-making system. The Automation market in India has also been witnessing the development of customized automation solutions. However, the lack of availability of skilled workforce could pose a challenge to the growth of this market.

The development of customized automation solutions is one the major trends in the Automation market in India. Several automation solution vendors face increased competition from other local and regional vendors due to the lack of product differentiation. In order to overcome this problem several local and regional vendors have started offering customized automation solutions to meet the specific need of their customers at a competitive price. Because of this several SMEs across various industries such as Food and Beverages, Pulp and Paper, Chemical, and Petrochemical, opt for these customized automation solutions. This in turn enables MSMEs to improve their operational performance at minimal cost.

The Automation market in India is witnessing many growth drivers such as the need for improved the decision-making systems. The effective deployment of automation products enables companies to improve their decision-making capabilities by providing accurate information on real-time basis.

Further, the report states that a major challenge in the market is the lack of availability of a skilled workforce. Several organizations across various process and discrete industries find it difficult to deploy because of expertise knowledge to handle these solutions.

The key vendors dominating this space include ABB Ltd., Honeywell International Inc., and Siemens AG. The other vendors mentioned in this report are Applied Material Inc., Apriso Corp., Aspen Technologies Inc., Emerson Electric Co., General Electric Co., IBM Corp., Invensys plc, Oracle Corp., PSI AG, Rockwell Automation Inc., SAP AG, Schneider Electric Co., Werum Software & Systems AG, and Yokogawa Electric Corp.

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