Report Description

India Semiconductor Market was valued at USD 34,426.91 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 24.32%. The market is robust because of the increasing demand for electronic products by consumers in their day-to-day life and is further driven by government initiatives to promote electronic manufacturing. These factors are driving the growth of the India Semiconductor Market in the forecast period.

Semiconductors are materials with conductivities intermediate between conductors and nonconductors or insulators. Semiconductors are made of pure elements like silicon or germanium as well as compounds such as gallium arsenide or cadmium selenide. Small amounts of impurities are added to pure semiconductors in a process known as doping, causing large changes in the material's conductivity. Additionally, numerous items, such as computers, cellphones, appliances, gaming equipment, and medical devices, employ semiconductors.

The Rise of Artificial Intelligence, Machine Learning and IoT

Everything from bomb detectors to smart glasses is made with the help of semiconductor technology. The demand for semiconductors is projected to be driven by the ongoing efforts of semiconductor chip manufacturers to fulfil the demands of IoT and AI. The Internet of Things is the next generation of computing devices embedded in everyday objects that can send and receive data, including wearable devices, smart home devices, and factory equipment."  AI and machine learning aid semiconductor companies in enhancing accuracy using metrology readings and tool-sensor data which allows machine learning. Therefore, with the rise of Artificial Intelligence, Machine Learning, and IoT, there is an increase in the semiconductor market.