Bangladesh Factory and Industrial Automation Market (2022-2028) | Trends, Value, Revenue, Outlook, Forecast, Size, Analysis, Growth, Industry, Share, Segmentation & COVID-19 IMPACT

Bangladesh Factory and Industrial Automation Market Synopsis

Bangladesh Factory and Industrial Automation Market is expected to show substantial growth in the coming years owing to growing adaptation of technology and increasing penetration of robotics in the manufacturing sector. Moreover, the implementation of Industrial Revolution 4.0 has acted as a major growth driver for the industrial automation market as it has given a sudden rise to the usage of robotics in textile and other small and medium size manufacturing units. During the COVID-19 phase, the Bangladesh Factory and Industrial Automation Market declined significantly and witnessed a sudden fall of -18.3% in terms of revenue as almost all the business were shut because of lockdown measures taken by the government to curb the spread of virus. However, the market revived in 2021 and is expected to cross pre-covid levels by the end of 2022 and witness a sharp growth during the forecast time frame.

According to 6Wresearch, the Bangladesh Factory and Industrial Automation Market size is projected to grow at a CAGR of 10.2% during 2022-2028. With the growing number of factories in economic zones the demand and production of goods would increase significantly, driving the growth of overall factory and industrial automation market. Textile industry has captured the highest market revenue share among all other industries as this sector is the highest contributor to the country’s overall export revenues. Increasing government efforts to promote RMG exports would generate more demand for automation products in order to compete with the global players. Safety equipment’s captured the highest market revenue share in the overall market owing to their wide applicability in almost all manufacturing units where high precision techniques and accuracy is required. However, the highest growing segment would be robotics and factory & industrial robots (including cobots) because of continuously rising government efforts to develop the manufacturing sector from labor intensive to fully automated manufacturing sector.

Bangladesh textile industry contributes around 80% of the total exports and the growing competition between countries like Vietnam to provide product at competitive price is expected to propel industries of Bangladesh to adopt automation which in turn would result in augmenting the market scope for factory and industrial automation market. The factor and Industrial Automation Market in Bangladesh is projected to grow effortlessly.

By Product/Components

Robots would be replacing workforce and drive automation in the manufacturing sector of Bangladesh during the forecast period. However, sensors and controllers would continue to account for prominent revenue share in the market on the back of applicability and penetration into different sectors such as textile, pharma, leather and others. Moreover, they are widely used in different metro rail projects, railways, oil pipeline and other projects across Bangladesh. Controllers are anticipated to boost the market share in the coming years.

By System Solutions

Safety by system solution records significant share in the Bangladesh automation market on account of government measures such as ILO program which aims to improve safety and minimize the risk of another tragedy like the The Rana Plaza incident that claimed more than 1,100 lives in 2013. However, robotics market is expected to gain traction on the back of penetration of automation into automobile sector of Bangladesh.

By End Users/Industries

Even though the textile sector is thriving in the country, only 10% of the apparel factories in the Bangladesh have adopted automation process and it is likely to increase significantly in the coming years on account of continuous government efforts such as developing a garment village on a 500-acre land to increase export revenues due to rising competition with Vietnam to provide products at competitive price.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years Market Numbers.
• Historical Data Starting from 2018 to 2028.
• Base Year: 2022
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Bangladesh Factory and Industrial Automation Market Overview
• Bangladesh Factory and Industrial Automation Market Outlook
• Bangladesh Factory and Industrial Automation Market Forecast
• Historical Data and Forecast of Bangladesh Factory and Industrial Automation Market Revenues, for the Period 2018-2028F
• Historical Data and Forecast of Bangladesh Factory and Industrial Automation Market Revenues, By Product/Components, for the Period 2018-2028F
• Historical Data and Forecast of Bangladesh Factory and Industrial Automation Market Revenues, By System Solutions, for the Period 2018-2028F
• Historical Data and Forecast of Bangladesh Factory and Industrial Automation Market Revenues, By End Users/Industries, for the Period 2018-2028F
• Market Drivers and Restraints
• Bangladesh Factory and Industrial Automation Market Trends
• Porter’s Five Forces Analysis
• Market Opportunity Assessment
• Bangladesh Factory and Industrial Automation Market Revenue Ranking, By Companies, 2021
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Product/Components

• Sensors
• Controllers
• Switches & Relays
• Factory and Industrial Robots
• Drives (Servo Motor, Servo Drive, VFD)

By System Solutions

• PLC-HMI
• Robotics
• Vision
• Safety
• Distributed Control System (DCS)

By End Users/Industries

• Textile
• Leather
• Food and Beverages
• Cement
• Automotive
• Power & Energy
• Pharma
• Others (Automotive, Semiconductor & Electronics, Furniture, Transportation and Infrastructure, Paper & Pulp, Metal)