India Semiconductor Market Size Growth, Demonstrates A Spectacular Growth By 2030

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


Shambhavna jain

a year ago | 2 min read

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.

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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.

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

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Market Segment:

By Component (Memory Devices, Logic Devices, Analog Ic, Mpu, Discrete Power Devices, Mcu, Sensors, And Others)

By Application (Networking And Communications, Data Processing, Industrial, Consumer Electronics, Automotive, Government)

By Region (North, South, East, West)

Table of Content:

  • Report Overview
  • Global Growth Trends
  • Competition Landscape by Key Players
  • Data Segments
  • North America Market Analysis
  • Europe Market Analysis
  • Asia-Pacific Market Analysis
  • Latin America Market Analysis
  • Middle East & Africa Market Analysis
  • Key Players Profiles Market Analysis
  • Analysts Viewpoints/Conclusions
  • Appendix

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Shambhavna jain







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