According to Tarun Pathak, director of consultancy Counterpoint, the mobile and wearable device industry is the largest contributor to India’s semiconductor consumption in 2021, and with the popularity of cheap mobile internet, smartcell phoneAccelerating penetration and increasing the value share of high-performance processors, memory, sensors and other semiconductor components in end products will continue to drive market growth.
Neil Shah, vice president of Counterpoint, said when looking at the medium and long-term market prospects, communications and automobiles will become the key areas for India’s semiconductor consumption beyond mobile and wearable devices.
From 2021 to 2026, India’s terminal electronic equipment market will achieve a compound annual growth rate of 19%. At present, most semiconductor components still rely on imports, and domestic production can only meet 9% of the demand. The report believes that in effective incentive measures The development potential of India’s local semiconductor industry is expected to be released at a faster pace.
Sunil G Acharya, vice president of IESA, said that the semiconductor industry will play an important role in India’s economic growth, and the combination of demographic dividends and the influx of foreign capital will change the face of India’s semiconductor industry in the next few years.
Counterpoint analyst Shivani Parashar said that India should focus on developing the integrated circuit design industry ecology and lay a solid application foundation for chip manufacturing. The industrial policy is expected to push the domestic self-sufficiency rate of Indian semiconductors to 17% in 2026, and the scale of the local industry will increase by about 6 times.
(Proofreading / Yang Kaiyan)