India Semiconductor Market is Booming and Predicted to Hit USD 149.2 Billion by 2032

India Semiconductor Market Overview

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Size in 2023: USD 47 Billion

Market Forecast in 2032: USD 149.2 Billion

Growth Rate (CAGR) 2024-2032: 13.10%

The India semiconductor market is rapidly growing, driven by increasing demand for electronics, automotive, and telecom sectors, fostering innovation and investment. According to the latest report by IMARC Group, the market size reached USD 47 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 149.2 Billion by 2032, exhibiting a growth rate (CAGR) of 13.10% during 2024-2032.

India Semiconductor Market Trends and Drivers:

The growing need for semiconductors in major sectors, including consumer electronics, automotive, telecommunications, industrial automation, etc., are the factors responsible for the growth of the India semiconductor market. Additionally, the market is propelling as there is a rise in demand for smartphones, laptops, wearables, and smart home devices. Besides this, the shift by India toward electric vehicles (EVs) and renewable energy solutions is creating a need for advanced power semiconductors.

Initiatives by government authorities like "Make in India" and the production-linked incentive (PLI) scheme are further propelling the market by encouraging local manufacturing and design capabilities, reducing dependency on imports, and attracting significant foreign investments. The rising adoption of 5G technology is another crucial factor, driving demand for high-performance semiconductors that power next-generation networks.

The push for self-reliance amid global supply chain disruptions is augmenting the India semiconductor market. In addition to this, the government authorities are actively promoting semiconductor fabrication within the country, with plans to build local foundries and strengthen the semiconductor ecosystem through collaborations with international companies. Moreover, the rapid expansion of IoT, AI, and machine learning applications in sectors like healthcare, retail, and manufacturing is accelerating the demand for cutting-edge semiconductor solutions.

Apart from this, there is a growing emphasis on energy-efficient semiconductors, aligning with sustainability goals and helping reduce the carbon footprint of tech infrastructure. The rising investments, supportive policies made by government authorities, and expanding technological adoption, are anticipated to drive the India semiconductor market in the coming years, revolutionizing the country into a key player in the global semiconductor landscape.

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India Semiconductor Market Industry Segmentation:

The report has segmented the market into the following categories:

Breakup by Components:

• Memory Devices
• Logic Devices
• Analog IC
• MPU
• Discrete Power Devices
• MCU
• Sensors
• Others

Breakup by Material Used:

• Silicon Carbide
• Gallium Manganese Arsenide
• Copper Indium Gallium Selenide
• Molybdenum Disulfide
• Others

Breakup by End User:

• Automotive
• Industrial
• Data Center
• Telecommunication
• Consumer Electronics
• Aerospace and Defense
• Healthcare
• Others

Breakup by Region:

• South India
• North India
• West and Central India
• East India

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=9343&flag=C

Key highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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This release was published on openPR.