Latest 2023 Development of the India Integrated Circuit Market

India integrated circuit market has witnessed several government initiatives including the Electronics Manufacturing Cluster (EMC) scheme, which aims to create an ecosystem for the electronics manufacturing industry. The government has also announced a Production Linked Incentive (PLI) scheme for the semiconductor industry, providing financial incentives to domestic companies that manufacture semiconductors in India. Furthermore, several international semiconductor companies have established their presence in India, including Intel, Samsung, Texas Instruments, and STMicroelectronics. These companies have set up research and development centres, design centres, and manufacturing facilities in India.

One of the latest developments in the Indian IC market is the establishment of a new semiconductor fab unit in Prayagraj, Uttar Pradesh by the Indian government-owned company, Hindustan Semiconductor Manufacturing Corporation (HSMC). The fab unit is expected to manufacture advanced chips for various applications such as mobiles, laptops, smart grids, and defence electronics. In addition, several multinational semiconductor companies such as Intel, Qualcomm, and Texas Instruments have also announced their plans to invest in the Indian IC market. For instance, Qualcomm has partnered with Jio Platforms to develop and produce 5G network infrastructure and services in India. Intel has also announced its plans to invest $600 million to expand its manufacturing facility in Chennai, Tamil Nadu. These factors will further boost the demand for India integrated circuit industry.

India Integrated Circuit Market Synopsis

The India Integrated Circuit market report is a part of the Asia Pacific Integrated Circuit Market thoroughly covers the market by applications, and regions. The India Integrated Circuit market outlook report provides an unbiased and detailed analysis of the ongoing India Integrated Circuit market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Integrated Circuit market is driven by the growing penetration of electronics, along with a surge in demand for automobiles in the country. The consumer electronics market has registered a growth of over 20% over the past three years and is expected to maintain its growth over the coming years, which would lead to a further increase in demand for the integrated circuit market in the country.

According to 6Wresearch, the India Integrated Circuit Market size is anticipated to register growth during 2020-2026. The rising presence of products across the global market is driving the growth of the industry. Increasing engagement towards custom-made integrated circuits is also propelling the India Integrated Market Growth. 

India integrated circuit market is estimated to register sound revenues in the coming six years backed by the rising tremendous growth of the automotive and telecommunication sector. Further, the rising penetration of the Internet of things and electronic devices such as mobiles, laptops, and computers is leading to instigating the demand for integrated circuit chips in order to operate smoothly function and is estimated to generate lucrative opportunities in the market. Additionally, on the basis of the end-users commercial sector is estimated to generate high sales revenues in the market owing to rising offices and malls coupled with the rising use of computer systems which is anticipated to propel the significant demand for integrated circuits and would proliferate the growth of integrated circuit market in the coming years.

Market Analysis by Application 

Based on applications, the market is segmented into consumer electronics, automotive, industrial, telecommunication, and others, of which consumer electronics accounted for a leading share of market demand.

COVID-19 Impact on India Integrated Circuit Market 

Indian market is expected to register a decline in demand during 2020, due to the occurrence of the global pandemic COVID-19, which has led to a complete lockdown in the country during the second quarter of 2020, resulting in an economic slowdown in the country. However, the market is expected to register positive growth during 2021-2026, on account of changing government policies for the expansion of the industrial sector leading to the surge in demand for Integrated Circuit in the Indian market over the forecast period.

Key players in the Market 

Some of the key players in the Integrated Circuit Market are:

• Intel Corporation
• Texas Instruments
• Analog Devices
• STMicroelectronics
• NXP
• ON Semiconductor
• Micron
• Toshiba
• Broadcom
• Qualcomm

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019.
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Integrated Circuit Market Overview
• India Integrated Circuit Market Outlook
• India Integrated Circuit Market Forecast
• Historical Data of India Integrated Circuit Market Revenues & Volume for the Period 2016-2019
• India Integrated Circuit Market Size and India Integrated Circuit Market Forecast of Revenues & Volume, Until 2026
• Historical Data of India Integrated Circuit Market Revenues & Volume, By Applications, for the Period 2016-2019
• Market Size & Forecast of India Integrated Circuit Market Revenues & Volume, By Applications, Until 2026
• Market Drivers and Restraints
• India Integrated Circuit Market Price Trends
• India Integrated Circuit Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• India Integrated Circuit Market Share, By Players
• India Integrated Circuit Market Share, By Regions
• India Integrated Circuit Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The India Integrated Circuit Market report provides a detailed analysis of the following market segments:

By Applications

• Industrial
• Automotive
• Consumer Electronics
• Telecommunication
• Others

India Integrated Circuit Market: FAQs