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.
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