India Integrated Circuits Market to Grow with a CAGR of 12.36% During the Forecast Period
Growing penetration of
electronics, along with a surge in demand for automobiles in the country to influence
the India Integrated Circuits Market through FY2028F.
According to
TechSci Research report, “India Integrated Circuits Market –Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, FY2018-FY2028F” The trend for 5G
connectivity, advanced driver assistance systems (ADAS) in automotive vehicles,
cloud computing, and IoT-based devices are anticipated to drive the growth of
the India Integrated Circuits Market at an impressive CAGR of 12.36% in the forecast period.
The market's growth is
stimulated by various factors, such as rising penetration of the Internet
of things
and electronic devices such as mobiles, laptops, and computers, leading to
increased demand for integrated circuit chips.
The extensive research &
development operations such as advanced driver assistance systems undertaken by
major players of automotive vehicles has augmented the demand for the products.
Additionally, increasing opportunities for IOT based devices have amplified the
requirements of analog ICs and digital ICs, and microcontroller sensors in
automated equipment and IOT devices. For instance, continuous efforts to
introduce developed and advanced automotive infotainment installations such as
modern entertainment and information setup or precise GPS tracking and
navigation, will propel the demand and subsequent sales of automotive
microcontrollers (MCU). Furthermore, electric vehicles have registered heavy
increases in their sales due to high volatility in fuel prices and also
subsidies offered by numerous governments to boost EV sales. The manufacturing
of electric vehicles is an important factor which is anticipated to provide new
growth horizons for the market.
Moreover, industry
participants are expected to tap markets across emerging economies following
the trend for smartphones. IC manufacturers seek opportunities and could infuse
funds into the landscape. The Integrated Circuits Market share will observe an
upward growth trajectory due to the sales of semiconductors. Furthermore, the
soaring footprint of 5G services is likely to aid industry growth.
Browse over 20 market data Figures spread through 70 Pages and an
in-depth TOC on "India Integrated Circuit Market"
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The India Integrated Circuits
Market is segmented based on Product type, Application type, region and
company. On the basis of Product type, the market is segregated into Memory, Logic,
Micro, Analog. Out of these, the Memory segment registered a market share of
more than 43.47% in FY2022, which has dominated the market because memory ICs
can store, retrieve, and refresh data at a faster rate. The Application type segment
is divided into Data Processing, Communication, Industrial Electronics, Automotive,
Consumer Electronics. Furthermore, in terms of region, the India Integrated
Circuits Market comprises of South, West, North, and East regions.
Key market
players in the India Integrated Circuits Market include:
·
Samsung
India Electronics Pvt. Ltd
·
Intel
Technology India Pvt. Ltd. (India)
·
Qualcomm
India Private Limited (India)
·
Taiwan
Semiconductor Manufacturing Co.
·
Texas
Instruments India Pvt. Ltd. (India)
·
Toshiba
Electronic Devices & Storage Corporation
·
AMI
Semiconductor
·
ASM
Technologies
·
Micron
Technology inc.
·
Broadcom
Inc.
Major players are
likely to bolster their footfall as end-users continue to exhibit traction for
smart connectivity and IoT integrated operation. The India Integrated Circuits
Market growth will be noticeable with the growing footprint of laptops, smart
desktops, and tablets. Industry participants are likely to emphasize the
production of sophisticated and state-of-the-art integrated circuit devices.
On the basis of
region, the market is divided into South, West, North & East. The South
region is the major contributor to the growth of the India Integrated Circuits
Market and has contributed to the largest market share of more than 40.53% in
the year FY2022.
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“The increased
use of next-generation mobile networks like 4G and 5G necessitates the
installation of new infrastructure. Radio frequency integrated circuits, system
on chips, application specific integrated circuits, cellular integrated
circuits, and millimeter-wave integrated circuits are commonly used in the
development of 5G infrastructure, resulting in a high demand for integrated
circuits.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“India Integrated
Circuits Market By Product Type (Memory, Logic, Micro, Analog), By Application Type
(Data Processing, Communication, Industrial Electronics, Automotive, Consumer
Electronics), By Region, Competition Forecast & Opportunities, FY2018-FY2028F”, has
evaluated the future growth potential of Integrated Circuits Market in India and provides statistics and information on market structure,
size, share and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment decision.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in India Integrated
Circuit market.
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