Indian Semiconductor Market size was valued at USD 34.3 Billion in 2023 and is expected to reach USD 100.2 Billion by 2032, at a CAGR of 20.1% during the forecast period 2023 – 2032.
A semiconductor is a type of material that falls between conductors and insulators in terms of electrical conductivity. Semiconductors, such as silicon, are fundamental to the construction of transistors, diodes, and integrated circuits, and serve as the building blocks for modern electronics.
These materials play a critical role in controlling and processing electrical signals and enable the development of a wide range of electronic technologies.
By component, the memory device segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period. In India, trends in memory devices reflect a growing demand for higher-capacity and faster storage solutions.
With the surge in data-driven applications, there’s a notable shift towards solid state drives (SSDs) over traditional hard disk drives (HDDs). The adoption of non-volatile memory express (NVMe) technology is accelerating, enhancing data transfer speeds.
In addition, increased use of smartphones and digitalization initiatives boost demand for high-capacity RAM modules. The gaming industry’s expansion also drives interest in faster and more efficient memory solutions. For instance, India will get its first domestically made memory chip from Gujarat by the end of the year, with the state government having signed a lucrative deal with South Korea’s Simmtech.
By application, the consumer electronics segment dominated the Indian semiconductor market. India’s appliances and consumer electronics industry is expected to grow by about 10% in 2024 as players offer more premium products, cater to rising demand for smart appliances and make more investments.
Consumer electronics trends in India showcase a shift towards advanced technologies and digitalization. Rising demand for smart home devices, which include IoT-enabled products such as smart TVs, speakers, and appliances. The smartphone market sees a focus on affordable yet feature-rich models, contributing to increased smartphone penetration.
Additionally, there’s a growing interest in wearables, such as fitness trackers and smartwatches. E-commerce platforms play a pivotal role in driving accessibility.
West India held the highest market share in Indian semiconductor market in 2022 and is expected to keep its dominance during the forecast period.
Mumbai and Pune are emerging key centers for semiconductor design and manufacturing with a focus on innovation, research, and development, the region is witnessing a surge in startups and collaborations, creating a robust ecosystem.
The adoption of cutting-edge technologies such as AI, IoT, and 5G is driving demand for advanced semiconductor products.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 34.3 Billion |
| Projected Market Size in 2032 | USD 100.2 Billion |
| Market Size in 2022 | USD 27 Billion |
| CAGR Growth Rate | 20.1% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Component, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Country Scope | India |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Custom Market Insight has comprehensively analyzed India semiconductor market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this India semiconductor industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the India Semiconductor Market:
- Broadcom India Pvt. Ltd.
- Chiplogic Semiconductor Services Private Limited
- Tata Elxsi Limited
- Continental Device India Pvt. Ltd.
- MosChip Technologies Ltd.
- NXP Semiconductors India Private Limited
- E-InfoChips Private Limited
- ASM Technologies Ltd.
- Masamb Electronics Systems Private Limited
- Semi-Conductor Laboratory
- Saankhya Labs Pvt. Ltd.
- ROHM Semiconductor India Pvt. Ltd.
- Infineon Technologies India Pvt. Ltd
- Renesas Electronics India Pvt. Ltd.
- STMicroelectronics Pvt. Ltd.
- Silicon Automation Systems (India) Pvt. Ltd.
- Sand Microelctronics Pvt Ltd.
- Silicon Interfaces
- Smart Modular Tech
- Others
The Indian Semiconductor Market is segmented as follows:
By Component
- Memory Devices
- Analog IC
- MPU
- MCU
- Sensors
- Discrete Power Devices
- Others
By Application
- Telecommunication
- Defence
- Industrial
- Consumer Electronics
- Automotive
- Others