According to the TechSci Research report, “India Semiconductor Market - By Region, Competition Forecast & Opportunities, 2019-2029.” The India Semiconductor Market, valued at USD 34,426.91 million in 2023, is poised for robust growth in the forecast period, projected at a CAGR of 24.32%. This growth is driven by increasing consumer demand for electronic products, widespread adoption of artificial intelligence (AI), and supportive government initiatives across the nation.
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Semiconductors serve as foundational components crucial to advancements in critical and emerging technologies. India, as the world's second most populous country and with a USD 180 billion expenditure on electronic goods, aims to expand its domestic semiconductor market. The country, boasting the fifth-largest economy globally, hosts 120 semiconductor design units that cater to industries such as automotive, communications, industrial applications, data processing, consumer electronics, and more. The demand for semiconductors is set to rise further due to increasing digital transformation across consumer, business, and public sectors, coupled with the adoption of new technologies and escalating demand for electronic goods.
Browse over 26 market data Figures spread through 100 Pages and an in-depth TOC on the "India Semiconductor Market"
Government initiatives and industry efforts are enhancing India's semiconductor design sector, emphasizing education improvements to cultivate design and IT expertise. Institutions like the Indian Institutes of Technology (IITs), National Institutes of Technology (NITs), Indian Institute of Information Technology (IIITs), and indigenous design firms play pivotal roles in fostering an entrepreneurial culture conducive to industry growth.
The India Semiconductor Market is segmented by component, application, type, and region. Component categories include memory devices, microprocessors, analog ICs, sensors, discrete power devices, and others. Applications span IT & telecom, automotive, consumer electronics, and other industries. Semiconductor types are categorized as extrinsic and intrinsic. Regionally, the market is divided into South India, North India, West India, and East India.
In 2023, the Information Technology (IT) and Telecommunications sector dominated with a market share of 53.30%, driven by India's strong presence in these fields, government support, and a skilled workforce conducive to semiconductor market growth.
South India led the regional segmentation with a market share of 40.14% in 2023, attributed to its status as a hub for IT and telecom industries. Cities like Bengaluru, Chennai, and Hyderabad in South India host major global technology firms, startups, and research institutions, solidifying their position as key technology hubs in India.
The India Semiconductor Market presents significant opportunities for growth, bolstered by technological advancements, increasing digitalization, and strategic government initiatives aimed at fostering industry development and innovation.
Key market players in the India Semiconductor Market include:
- Broadcom India Private Limited
- Chiplogic Semiconductor Services Private Limited
- Tata Elxsi Limited, Continental Device India Pvt. Ltd
- MosChip Technologies Limited
- NXP Semiconductors India Private Limited
- eInfoChips Private Limited
- ASM Technologies Ltd
- Masamb Electronics Systems Private Limited
- Semi-Conductor Laboratory
- Saankhya Labs Private Limited
- ROHM Semiconductor India Pvt. Ltd
- Infineon Technologies India Private Limited
- Renesas Electronics India Private Limited
- STMicroelectronics Private Limited
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“The growing usage of semiconductors in various sectors including for safety, electrification, communication, and connection is expected to increase as the production and adoption of electric vehicles (EV) grow in India. India is one of the largest EV marketplaces in the world with sales of 236,802 units in 2021 and 143,837 units sold in the first half of 2021. These factors are expected to boost the semiconductor industry in India during the forecast period. Additionally, various investments by the union government and market players in the semiconductor industry is likely to propel the market of India semiconductor market in the upcoming years. For instance, IBM and STMicroelectronics decided to set up India's first chip-making plant with an investment of USD 7.91 billion permitted by the Government of India. Therefore, the market for semiconductor across the country is expected to rise in the forecast period 2024-2031F.” said Mr Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Semiconductor Market Segmented By Component (Memory Devices, Microprocessors, Analog IC, Sensors, Discrete Power Devices, Others), By Application (IT & Telecom, Automotive, Consumer Electronics, Other Industries), By Type (Extrinsic Semiconductor, Intrinsic Semiconductor), By Region, Competition Forecast & Opportunities, 2029F”, has evaluated the future growth potential of an India semiconductor market and provides statistics and information on market structure, size, share, and future growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the India semiconductor market.
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