In 2021, India’s end equipment market stood at $119 billion in terms of revenue and is expected to grow at a CAGR of 19% from 2021 to 2026, a report by India Electronics & Semiconductor Association and Counterpoint Research has said
The Indian semiconductor component market is expected to surge over the next few years, with its cumulative revenue expected to climb to $300 billion during 2021-2026, a report by Counterpoint Research has said.
The report, which is the result of a joint effort by the India Electronics & Semiconductor Association (IESA) and Counterpoint Research, provides detailed recommendations and a framework for building a robust domestic semiconductor ecosystem to boost local production and sourcing.
“The next big boom for semiconductor components will come from across sectors. However, the telecom sector with the advent of 5G and fibre network rollout will be a key catalyst in boosting the semiconductor components consumption,” Counterpoint Research Vice President Neil Shah said.
India is poised to be the second largest market in the world from the perspective of scale and growing demand for semiconductor components across several industries and applications, the report said.
This demand is being pushed by the increasing pace of digital transformation among the country’s consumers, enterprises and public sector through the adoption of new technologies.
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These cover smartphones, PCs, wearables, cloud data centres, industry 4.0 applications, IoT, smart mobility, and advanced telecom and public utility infrastructure.
In 2021, India’s end equipment market stood at $119 billion in terms of revenue. It is expected to grow at a CAGR of 19 percent from 2021 to 2026. The report notes that if done right, the semiconductor market can be a major contributor to economic growth, and India’s push to become a $5-trillion economy.
https://www.moneycontrol.com/news/technology/indias-semiconductor-component-market-expected-to-hit-300-billion-by-2026-9044901.html
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