India Semiconductor market is expected to grow at a significant CAGR during the forecast period, FY2023-FY2027F.
The major players operating in the India Semiconductor market are Broadcom India Pvt. Ltd., Chiplogic India Pvt. Ltd.,Tata Elxsi,Continental Device India Ltd,MosChip Technologies Limited,NXP Semiconductors,Semiconductor Laboratory,eInfochips, Inc.,Saankhya Labs Semiconductor Solutions,ASM Technologies,ST Microelectronics India,Infineon Technologies India Pvt. Ltd,Masamb Electronics Systems
High internet penetration and proliferation of smart devices are contributing to the semiconductor market growth. The electronics system design manufacturing market is the fastest growing industry in India.
The presence of the number of design bases in India and the rise in the number of skilled professionals and engineers are expected to foster the growth of the semiconductors market. The rise in the disposable income of consumers is increasing their expenditure capacity to afford electronic devices, which in turn is influencing the market growth.
Favorable government policies such as Make in India, Production Linked Incentive Scheme (PLI), Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), Modified Electronics Manufacturing Clusters Scheme (EMC 2.0), amongst others aims to boost the domestic manufacturing and provide incentives to the manufacturing companies.
This is expected to fuel the semiconductor market growth. The huge demand for semiconductors from end-user industries comprising of industrial machinery, automobiles, telecommunication equipment, office automation, consumer electronics, information technology, among others for computing purposes is expected to accelerate the growth of the semiconductor market in the next five years.
India Semiconductor market is segmented into components, application, type, process, regional distribution, and company. Based on the application, the market can be divided into networking & communication, healthcare, automotive, consumer electronics, industrial, smart grid, gaming & others.
The networking & communication segment is expected to account for major market share in the forecast period, FY2023-FY2027. The surge in the demand for smartphones and devices and the development of the telecommunication industry are expected to drive the growth of the segment in the next five years.
Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.