By Ayesha Mudassar

ISLAMABAD, Aug 15, (INP-WealthPK): Automation has become inevitable for industrial growth as it boosts output, decreases the manufacturing cost and ensures better quality, WealthPK reports.

Almas Hyder, Chairman of the Engineering Development Board (EDB), told WealthPK that automation had become a necessity for industries to compete in the global market.

He said that automation was rapidly increasing and gaining acceptability around the world to reduce the production cost, increase productivity and save time.

Raza Abbas Shah, Chief Executive Officer of the EDB, said that the development of the country was closely linked with the uplift of the industrial sector. “To make a country’s product competitive in the global market, investment in technologies is the need of the hour,” he added.

Pakistan’s manufacturing sector must be brought in line with global competitive trends. Automation of the industrial sector is possible through the application of innovation, modern technology and research.

Aftab Ahmad, Director of Information at the Mines and Minerals Department, told WealthPK that the provision of necessary technical input to local miners was needed to develop the mineral and mining sector and increase its contribution to Pakistan’s GDP.

Amer Hasan, who works as a manager at Fauji Meat Limited, told WealthPK that Pakistan could generate billions of dollars by exporting Halal food. However, he said that the people associated with the industry required favourable terms and conditions for the import of modern machinery to ensure full automation of the sector.

(CAGR) of around nine percent until 2025. The value of the industrial automation market is projected to reach $265 billion in 2025.

A major driving factor for the growth of the industrial automation market is rising investment in the transformation of traditional production facilities by installing digitised systems.

According to the International Federation of Robotics, the automotive industry installed more than 100,000 robots in 2021, followed by the electronics industry with 88,000 new robots.

Major robot-producing countries such as Japan, South Korea and the United States have begun increasing automation applications in manufacturing industries.

The research and development budget of Japan for the fiscal year 2019-2020 was increased to $351 million to make the country a major robotics innovation centre. The robot budget for 2020 in South Korea was $126 million.

Geographically, Asia-Pacific holds the greatest share of the worldwide industrial automation market, followed by Europe and North America.

The size of the global industrial automation market was approximately $ 175 billion in 2020. The market is anticipated to grow at a compound annual growth rate

Credit: Independent News Pakistan-WealthPk