| | FEBRUARY 20228ELECTRONIC ENCLOSURES MARKET IN INDIA & ABROAD ­ A BRIEF OVERVIEWBy Shibu M S, Manager ­ Marketing, Radiant Design1. THE GLOBAL ELECTRICAL ENCLOSURES MARKET IS EXPECTED TO REACH $9.49 BILLION BY 2026. HOW DO YOU ANTICIPATE THE GROWTH OF THE ELECTRICAL ENCLOSURE INDUSTRY IN INDIA? WHAT CAN BE THE FACTORS THAT WILL DRIVE THE GROWTH?The Electrical & Electronics industry is one of the boom-ing industries in India, and the need for enclosures is also growing with that. The electrical enclosure market growth is expected to grow at a CAGR of 6.27 percent in 2021-2023. There will be steady growth in the coming years because of the upturn in need of electronics, IoT growth, Industrial au-tomations, and many other factors.The acceptance of industrial & home automation, boom-ing of Indian startup companies, rapid urbanisation, im-proved power structures, and needs of alternate energy sources are all aiding the market growth of electrical enclo-sures. The two major reason which drive the growth are­ IoT Adoption in India: The Indian internet of things (IoT) market is expected to expand at a CAGR of 13.2 percent from 2020 to 2025. The pandemic also triggered changes in enterprise behaviour that lead to IoT adoption in India. Many startups have come forward with innovations to tack-le the pandemic, and verticals such as banking, education, healthcare, manufacturing, and retail have started moving their on-premise applications to cloud based platforms to optimize reach and performance. IoT has gained the most popularity in home automation in recent times due to the people's interest towards smart homes. IoT enabled automa-tion, analytics, and data collection are giving a major push to VANTAGE POINTShibu M S, Manager
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