From Water Clocks in the third-century BCs to modern-day artificial intelligent robots, automation has changed how we live. In fact, the thought of minimizing human interventions to improve production quality has always been a propellant for innovation. Over the last few years, automation has been evolving at lightning speed, and it doesn’t look like slowing down anytime soon. Today, it is one of the fastest-growing industries worldwide. The global industrial automation market is projected to grow from USD 205.86 billion in 2022 to USD 395.09 billion by 2029, exhibiting a CAGR of 9.8% during the forecast period. India’s industrial automation and instrumentation market is estimated to grow by USD 1.92 billion from 2020 to 2025, and the market’s growth is anticipated to accelerate at a CAGR of 8.62%.
So, what is surging the demand for automation across the sectors? The advent of 5G wireless technology and the increasing adoption of Industry 4.0 are significant factors. Besides, the expansion of Augmented Reality, Digital Twin, Digitalization, and Industrial IoT is expected to be important indicators of global industrial automation growth. It will also change the work as we know it. For instance, a report by McKinsey Global Institute says that between 400 million and 800 million individuals worldwide could be displaced by automation and need to find new jobs by 2030. However, economic growth, rising productivity, and other forces could more than offset the losses.
To know more about the automation market and its trends, we interacted with many experts and leaders in the industry. This issue results from our effort to give our readers a comprehensive view of what is happening in the automation sector. Here, we have a collection of insightful articles written by industry experts and leaders. We hope that their insight and expertise will help you understand the automation industry that minimizes human intervention while improving the efficiency and quality of the output throughout the micro and macro-level processes across the sectors.