The Global India Semiconductor Market report, published by Report Ocean, presents a comprehensive analysis of the product’s/service industry, examining both historical patterns and future prospects from 2023 to 2031. This report serves as a valuable reference for businesses seeking to formulate effective strategies for the coming years, offering insights into the performance of organizations and the overall market in the previous year.
India Semiconductor Market to Grow at a CAGR of 17% during Forecast Period
India semiconductor market is growing at a high CAGR because of the increasing demand for consumer electronic goods such as smartphones, etc., along with increasing demand for IoT devices and expanding electric vehicle production
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A recent study conducted by the strategic consulting and market research firm, Report Ocean, revealed that the India semiconductor market was worth USD 23.2 billion in the year 2021. The market is projected to grow at a CAGR of 17.1%, earning revenues of around USD 80.3 billion by the end of 2028. The India semiconductor market is booming because of the rising demand for consumer electronic items like smartphones, televisions, and digital cameras, as well as the increased manufacturing of electric cars. In addition, rising demand for IoT devices is emerging as a significant driver of market expansion. However, high dependence on other countries for semiconductor chip imports may act as a huge restraining factor for the market growth.
Expanding Electric Vehicle Production is Driving Semiconductor Market
One of the primary driving factors for the market is the growing usage of semiconductors in electric cars. They are employed in the development of important vehicle tasks including power management, displays, sensors, and safety features, among others. In addition, the integration of IoT sensors is driving up semiconductor chip demand. In the projected period, increased consumer awareness of electric cars and carbon emissions, as well as expanding production by key EV manufacturers, are expected to drive semiconductor demand.
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Favorable Government Initiatives and Investments is Presenting Lucrative Growth Opportunities for Market Growth
The government of India is significantly focusing on making the country self-reliant in semiconductor manufacturing, especially post the coronavirus pandemic. According to India Briefing, The Indian government announced the Program for Development of Semiconductors and Display Manufacturing Ecosystem in India in December 2021, with a budget of INR 760 billion
Market Overview
Market Size & Forecast by Value, 2018-2028
By Value (USD Million)
Market Share & Forecast
By Component
Memory Devices
Logic Devices
Analog IC
MPU
Discrete Power Devices
MCU
Others Like Sensors
By Application
Networking And Communications
Data Processing
Industrial
Consumer Electronics
Automotive
Government
By Region
North
South
East
West
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Some of the Key Questions Answered in this Report:
What are the key market trends and market dynamics?
Who are the major players in the market and what is their market share?
What is the competitive landscape like in the market?
What are the major drivers and restraints affecting the market?
What are the growth opportunities in the market?
What are the regional and local market conditions and consumer behavior?
What is the market size and growth forecast for different regions and countries?
What is the impact of government regulations and policies on the market?
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