Ayesha Mudassar

As the developed countries achieved efficiency and growth through industrial automation, Pakistan also needs to strive to improve on innovation and industrial digitalisation to achieve sustainable growth and exports, stresses Engineering Development Board Chairman Almas Hyder. Talking to WealthPK, he said automation was rapidly increasing and gaining acceptability worldwide to ensure better product quality, enhance output, lower production costs and boost productivity.

Furthermore, he said the application of cutting-edge technology, innovation, and research and development would allow Pakistani products to effectively compete in the international market. “Automation can be defined as the process of applying intelligent technology to replace manual, repetitive tasks with automated workflows, enabling businesses to achieve accuracy in their operations.”

The size of the global industrial automation market was approximately $191.89 billion in 2021. The market is estimated to grow at a compound annual growth rate (CAGR) of around 9.3% from 2020 to 2027 to reach $443.5 billion. The increasing industrial automation has resulted in mass production and upward growth in exports.

According to the International Federation of Robotics, the automotive industry produced more than 100,000 robots in 2021, followed by the electronics industry with 88,000 new robots. The International Federation of Robotics has released the “World Robotics R&D Programmes” in which it mentioned that China, Japan, the USA, South Korea, and Germany had begun increasing automation applications in manufacturing industries.

Japan’s R&D budget for 2022 increased to $930.5 million to make the country a major robotics innovation hub. The South Korean government allocated $172.2 million for developing robots. Geographically, Asia-Pacific holds the highest share of the world’s industrial automation market, followed by Europe and North America.

Credit: Independent News Pakistan-WealthPk