India and China’s exposure to industrial automation looks drastically different though both the countries share a comparable story as far as consumption is concerned, according to industry experts.
For instance, when China claimed to have a density of 187 robots per 10,000 employees, India only had 4 robots for an equal number of employees, indicating the latter was clearly lagging in terms of industrial automation despite its tech prowess, they said.
“The data point tells us how unpenetrated India is when it comes to automation despite its technological advancements,” said Sangeet Kumar, Co-Founder and CEO, Addverb Technologies, a global robotics firm.
“However, we expect this narrative to change rapidly in the era of Industry 4.0,’‘ he anticipated.
According to Sougandh K.M, Country Manager at Danish robotics firm Universal Robots, India’s investments in technology and artificial intelligence have been increasingly growing recently. “Even after the adverse effects of the global pandemic, the investment in the robotics industry has doubled in a span of a year,’‘ he noted.
India’s industrial robotic market stood at 3,200 units in 2020 and is expected to reach 28,000 units by 2030. Out of these, 2,000 units are expected to be cobots.
Robots mostly function independently and without human supervision while cobots, in contrast to autonomous robots, are collaborative robots and machines that work in conjunction with humans, such as by serving as a guide or assistant during a task or activity.
According to a report by MarketsandMarlets, the Industrial Robotics Market is expected to grow from $42.2 billion in 2021 to $ 75.3 billion by 2026, at a CAGR of 12.3% during the forecast period. Additionally, the collaborative robot market is projected to grow from $1.2 billion in 2021 and is projected to reach $10.5 billion by 2027; it is expected to grow at a CAGR of 43.4% from 2021 to 2027, according to an another report.
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