According to reports, India’s semiconductor component market is expected grow $300 billion from 2021-2026.

As per reports, the industry being bolstered by the increasing pace of digital transformation and the adoption of new technologies and covers smartphones, PCs wearable’s, cloud data centers, Industry 4.0 applications, IoT, smart mobility, and advanced telecom and public utility infrastructure.

While the country is becoming one of the largest consumers of electronic and semiconductor components, most components are imported, offering limited economic opportunities for the country. Currently, only nine percent of this semiconductor requirement is met locally.

Krishna Moorthy, CEO, IESA says, “Before the end of this decade, there will be nothing that will not be touched by electronics and the ubiquitous chip. Be it fighting carbon emissions, renewable energy, food safety, or healthcare, the semiconductor chip will be all-pervasive.”

Neil Shah, vice president, Counterpoint Research says, “Consumption will not only come from the advanced semiconductor-heavy 5G and fiber-to-the-home (FTTH) network infrastructure equipment, which will contribute to more than 14 percent of the total semiconductor consumption in 2026, but also from the highly capable AI-driven 5G endpoints, from smartphones, tablets, PCs, connected cars, industrial robotics to private networks.”

According to the research, Mobile and wearables, IT and industrial sectors alone contributed to almost 80 percent of the semiconductor revenues in India in 2021.

Tarun Pathak, research director, Counterpoint Research says, “The gradual shift from feature phones to smartphones has been generating increased proportions of advanced logic processors, memory, integrated controllers, sensors and other components. This will continue to drive the value of the semiconductor content in smartphones, which is still an under-penetrated segment in India, aided by the rise of wearables such as smartwatch and TWS.”