Automation Industry Expected to Witness Substantial Growth from India’s Rapidly Evolving Smartphone Manufacturing Market
Business Wire IndiaIndia’s smartphone manufacturing market is rapidly evolving. Government initiatives to boost domestic smartphone manufacturing and numerous investment announcements by global smartphone manufacturing players to assemble handsets locally are factors augmenting this growth. Currently, smartphones hold 60% of local production and this share is expected to reach 90% by 2018. To survive and thrive in a changing ecosystem, automation vendors must target equipment suppliers for assembling, packing and surface-mount technology (SMT) line opportunities, as well as develop indigenous manufacturing capabilities across the value chain.
Frost & Sullivan’s “Indian Smartphone Manufacturing Market – Automation Opportunity, 2017”, examines potential opportunities, challenges, value chain analysis, expected changes and attractiveness, and feasibility of entering the Indian smartphone manufacturing market.
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“Smartphones will enjoy a symbiotic relationship with India’s growth and will become the second-largest market globally with 650 million phones by 2020”, said Sriram Krishnamoorthy, Senior Consultant, Industrial Automation & Process Control Practice, Frost & Sullivan. “The entry of 4G technology, as well as multinational companies in smartphone manufacturing in India presents tremendous opportunities for automation vendors to cater to the specific needs of equipment suppliers.”
Key mobile-based industries will be worth more than $10 billion by 2020, based on digitization and internet enablement of India’s major sectors and services, including:
- mCommerce, and
“China is a hub for mobile phone manufacturers due to economies of scale. Cheaper imports have led to lower levels of investment in India, thus restraining the market here”, noted Sriram. “However, over the long term, increased Government intervention and the application of import duties will change this scenario and help in fostering a domestic manufacturing environment.”