india
Semiconductor Compounds across several industries and applications. India would be the world’s second-largest in terms of scale and growth with the largest consumer of electronics.
There is a study by the India Electronic & Semiconductor Association (IESA) and Counterpoint Researchers. Between 2021 and 2026, India’s semiconductor components market will generate approximately $300 billion in revenue. The sectors mentioned in this case include mobile and wearables. And information technology, automotive, industrial, telecommunications, aerospace and defense, and consumer electronics.
What does this data represent about the semiconductor components of India?
According to the data from all reports, the IT industry (20%). For other industrial (9%), and mobile and wearable devices (51%), account for 80% of total semiconductor component revenue. Apart from these, consumer electron accountants for 7% of the revenue. By followed by telecon (5%), automotive (5%), and aerospace and Defence (3%).
However, the study further says: “Government Visions-Make in India, Atmanirbhar Bharat, and PLI Scheme,”. Along with its constant pursuit towards reviving the infrastructure through the adoption of digital technology. It will boost local manufacturing of semiconductor components.” Even after all that, the semiconductor requirement is currently met locally by only 9%.
India’s Semiconductor Future
The research report noted that, in terms of revenue, India’s end equipment market was worth $119 billion in 2021, and, from 2021 to 2026, it is expect to grow at a 19% CAGR. From component sourcing to design manufacturing, India’s Electronic System Design and Manufacturing (ESDM), according to the research, is expected to play a remarkable role.
It also noted that while local production is currently low, India has enormous potential to become a leading semiconductor. The component supplier in the coming years if talent and resources are properly utilize. The study also highlighted that if there is an increase in local manufacturing and sourcing of semiconductor. The components, “the semiconductor market can be a major contributor to economic growth and India’s push to become a $5-trillion economy”.
Regarding the latest report, Eswara Rao Nandam, president and director of Polymatech Electronics Private Limited. They told News18 that $300 billion is estimate as per current usage, but according to him, it would cross that mark.
