Indian semiconductor industry is expected to witness healthy growth in coming years due to growth in related sectors.
According to a joint report issued by The Indian Semiconductor Association and Frost & Sullivan, the Indian semiconductor industry, following global trend, is set for a tremendous growth, with sales expected to touch the mark of $8 Billion by the end of 2011, reported domain-b
In 2009, the industry recorded growth of 15.6% to reach $5.39 Billion, and now this growth is likely to expand further. The domestic semiconductor consumption related to the telecommunications infrastructure development will post a whopping 132.5% growth from 2009 to 2011. By the end of this year, country’s share in the world semiconductor market is likely to reach 2.28%, making India one of the fastest growing semiconductor markets in the world.
India is also anticipated to emerge as a semiconductor export hub by 2015, mainly due to favorable government policies, qualified pool of professionals, supporting hardware production and low costs of freight, says “Semiconductor Industry Forecast to 2012
”, a market research report by RNCOS
The semiconductor market in India is currently being driven by IT & office automation, telecommunications, wireless handsets and consumer electronics segments. The industry forecast for the coming two years appears very promising with growth in WiMAX networks, 3G Networks, set-top-boxes, notebooks and smart cards.
Owing to increasing Internet speed and rising income levels across India, sales of technology like laptops and mobile phones have surged dramatically. In May 2010, nine companies participated in the bidding process for the 3G mobile phone licenses. This will further increase the sales once the roll-out takes off.
In addition to this, the growth in consumer electronics market is also driving the semiconductor industry growth. Considering the abrupt surge in sales of digital cameras, digital TV sets, smartphones and other products across the world, all leading chip makers are looking to make heavy investments in capacity expansion. This will further boost the semiconductor market.
According to a Research Analyst at RNCOS
, “The growth in Indian semiconductor industry will also benefit other related industries. The positive growth prospects for the semiconductor industry are expected to boost demand for base metals, which serve as key ingredients for the semiconductor industry.”
Related Market Research Reports:
Global Consumer Electronics Market Forecast to 2013
Booming Consumer Electronics Market in India
Consumer Electronics Market Forecast to 2012