India Semiconductor Market is Booming and Predicted to Hit USD 149.2 Billion by 2032
India Semiconductor Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 13.10% (2024-2032)
Market Size in 2023: USD 47 Billion
Market Size in 2032: USD 149.2 Billion
The India semiconductor market is growing rapidly, driven by increased demand in electronics, automotive, and industrial sectors. 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 growth of the India semiconductor market is driven by the increasing demand for electronics across sectors like consumer electronics, automotive, telecommunications, and industrial applications. With India’s growing digitization, the demand for semiconductors in smartphones, laptops, and wearables is rising sharply, fueling market expansion.
Government initiatives like “Make in India” and “Digital India” are promoting domestic manufacturing and semiconductor development, aiming to reduce import dependence and strengthen the local supply chain. Additionally, the rollout of 5G networks and the rise of the Internet of Things are increasing the need for advanced chips.
A key trend is the growing focus on research and development (R&D) and the establishment of semiconductor manufacturing facilities within India. The government is supporting this growth by offering incentives and creating semiconductor parks and clusters to attract both global and local companies.
The rise of electric vehicles and renewable energy technologies is also driving demand for power semiconductors crucial for energy management and efficiency. Furthermore, the integration of artificial intelligence and machine learning in various applications is increasing the need for specialized semiconductors to handle complex data processing tasks, further propelling the market’s growth.
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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.
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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.
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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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