India Semiconductor Market Research Report, 2029

India's semiconductor market is expanding significantly and offers excellent commercial and investment prospects. India is a desirable location for semiconductor businesses because of its enormous talent pool and robust, technologically advanced market. India hopes to become a global center for semiconductor manufacturing, and it might be close to doing so in accordance with the national visions of "Make in India," which aims to promote domestic production and manufacturing in India and for the world, and "Atamnirbhar Bharat," which is a vision to make India self-reliant and minimize dependences on imports. India's rapidly growing automotive and electronic device industries have led to a major increase in the country's need for semiconductors in recent years. To address the lack of semiconductor chips, India must grow its semiconductor sector. Smartphones from Xiaomi, Realme, Oppo, Samsung, Apple, and more brands are produced in India. Indian mobile phone manufacturer NITI Aayog CEO Amitabh Kant asserts that his organization is presently the second-largest global producer of mobile phones. Currently, the nation is home to over 200 factories that produce mobile phones. The industrial sector is very beneficial to India's economy. Since semiconductor chips are essential to many consumer goods, a large number of businesses in this sector rely heavily on them. India needs to produce semiconductor chips and reduce its dependency on foreign suppliers. The Indian government has moved in the right direction by introducing production-linked programs and other incentives for semiconductor companies. India's defense industry would also be impacted by the shortage of semiconductors. India wants to reduce imports of defense equipment while increasing indigenous manufacture. In aircraft and naval navigation, missile guidance systems, and other defensive systems, semiconductors are essential components. India must so produce semiconductors in order to address the shortage. According to the research report "India Semiconductor Market Research Report, 2029," published by Actual Market Research, the India Semiconductor Market is expected to grow more than CAGR 24% from 2024 to 2029. India is the second-biggest smartphone market in the world, and demand for these gadgets is always growing. This means that there will be a greater need for the semiconductors used in them. Electric vehicles (EVs) and autonomous driving systems are two examples of the cutting-edge technologies that the Indian automotive sector is quickly implementing. The industry is further propelled by the need for several complicated semiconductors that these cars demand. The need for better processors and storage solutions is being driven by the rise of digital India, which includes projects like cloud computing and data centers. This is driving up the price of semiconductors. With an emphasis on semiconductors, the NEP seeks to establish India as a worldwide center for electronics design and manufacture. In order to draw in both domestic and foreign investment, it provides enticing incentives like tax reductions, land allocations, and subsidies. Financial incentives are provided by the PLI plan to businesses that establish semiconductor manufacturing facilities in India. Major players are anticipated to be drawn in, and domestic output will increase. India's potential in the semiconductor industry was highlighted at the first Semicon India event, which took place in March 2023 and brought important players together to spur progress. Leading academic and scientific institutions in India are actively engaged in semiconductor research, which may eventually result in breakthroughs and domestic chip development. India is a great place to establish semiconductor fabs and design centers since it has a big pool of highly qualified engineers and scientists. Additionally, the government is funding training and up skilling initiatives to develop a workforce skilled in semiconductor technologies. India is a country with a significant reservoir of highly qualified scientists and engineers.

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Based on the Device type, the market is divided into Memory Device, Logic Semiconductors, Microprocessor Unit, Analog IC, Opto Semiconductor, Discrete Semiconductor, Power Semiconductor, Micro Controller Unit, Digital Signal Processors, and Semiconductor Sensors. In fact, there is a lot of interest in the Memory Device sector of the Indian semiconductor business. Massive volumes of data are being produced by India's digital transformation in a number of industries, including healthcare, banking, education, and entertainment. This raises the need for memory devices by requiring effective and dependable data storage solutions. There is an increasing demand for high-capacity and high-performance memory solutions due to the growth of cloud computing, big data analytics, and artificial intelligence applications. Based on the Application, the market is divided Networking & Communications, Data Centre/ Data Processing, Consumer Electronics, Industrial, Automotive, Government, Healthcare, Aerospace and Defense, Others. Semiconductors are a key component in the massive expansion of the Indian automobile sector, which is currently going through a change. India is seeing a sharp increase in the use of electric vehicles (EVs), fueled by growing environmental consciousness, rising gasoline prices, and government incentives. Compared to conventional cars, electric vehicles (EVs) require a lot more semiconductors, especially for advanced driver-assistance systems (ADAS), electric motors, and battery management systems. Features like autonomous driving capabilities, connected automobile technologies, and ADAS are being added by Indian automakers more frequently. The market for advanced automotive semiconductors is further expanded by these functions, which mostly rely on intricate microchips and sensors. Considered in this report: • Geography: India • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029

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Praveen Kumar

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Aspects covered in this report: • India Semiconductor market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Device type: • Memory Device • Logic Semiconductors • Microprocessor Unit • Analog IC • Opto Semiconductor • Discrete Semiconductor • Power Semiconductor • Micro Controller Unit • Digital Signal Processors • Semiconductor Sensors By Application: • Networking & Communications • Data Centre/ Data Processing • Consumer Electronics • Industrial • Automotive • Government • Healthcare • Aerospace and Defence • Others

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The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Semiconductor industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.