Indian semiconductor Industry to reach $55 bn by 2026
Semiconductors are the brain of all electronics we becomes part of our life. They are a crucial part of electronics and communication technology equipment that enable advancements in a wide range of fields, including computing, communications, healthcare, military systems, transportation, and clean energy.
The semiconductor industry in India is 100% import driven. Countries exporting semiconductors to India include China, Taiwan, the USA, Japan, etc. India has an advantage of designing chips. India is poised to emerge as a major player in 5G, semiconductor and chip technology, live sports, and AVOD with private deployment networks likely to take off in a big way during 2025-2028, according to consultancy Deloitte.
With introduction of incentive schemes including Design-Linked Incentive, Production-Linked Incentive and others, startups dealing with semiconductor design & manufacturing have started to emerge. Today, over 90% of semiconductor leaders have R&D centres in India.
It has also projected the Indian semiconductor market to be worth USD 55 billion by 2026.The industry is poised to play an important role in enhancing the global value chain as it will expand to a market size of $85 billion and generate employability for 6,00,000 by 2030.
Satellite broadband and communication service market in India is expected to grow and expand with the developing use case horizon and exponential growth in data consumption, as per Deloitte's 2023 TMT (Technology, Media, and Entertainment, Telecom) predictions.
As per Deloitte , the Indian semiconductor market will reach USD 55 billion by 2026 with more than 60 per cent of the market being driven by three industries -- smartphones and wearables, automotive components, and computing and data storage.
Experts of Deloitte India, noted that the semiconductor chip shortage over the past two years has amplified the importance of this industry. It has exposed the underlying risks in the value chain, owing to geopolitical threats, fluctuating demand from original equipment manufacturers, natural disasters and economic sanctions. These factors, however, also present a unique opportunity for India, positioning it as the next big manufacturing destination.
According to Deloitte's analysis, the Indian sports market is estimated to touch USD 100 billion by 2027 from USD 27 billion in 2020, a growth of over 20 per cent, and "about twice as fast as the global sports market and predicts that, the success of new talent in sports and government initiatives will accelerate the growth of diverse sports in India.
Aerospike boosts Community Leadership and Enterprise Support for Spring Framework
Aerospike has released expanded functionality and engineering support for the Spring Frame...
VMware announces Limitless Possibilities for Partners
VMware has announced the next evolution of the company’s flagship VMware Partner Con...
SAP’s Datasphere simplifies customers’ data landscape
SAP India announced key data innovations and partnerships that give customers access to mi...
The new wave of start-ups in the country is a testimony to the entrepreneurial temperament of the youth
PHDCCI conducted “Bharat Startup Summit, 2023” The conclave through discussion...
Team Computers hosts an Experiential CXO Meet with Google Cloud in Goa
Team Computers has held an experiential event in collaboration with Google Cloud, bringing...
BPE showcases Energy Storage Solutions at ELECRAMA
Best Power Equipments (BPE) has presented Energy Storage Solutions (ESS) at ELECRAMA. The...
Synersoft Technologies organizes a Webinar on the problems faced by SMEs
Synersoft Technologies has organized a Webinar on “Solution to problems faced by SME...