Profit from the March of the Microchips
Standing at the precipice of the digital age, is it possible for anyone to imagine life without electronic devices, today? Undoubtedly, No. Technology is the disruptor today while accelerating this digital revolution are the semiconductors an essential component of electronic devices, enabling advances in communications, computing, healthcare, military systems, transportation, clean energy, and countless other applications. These tiny chips or integrated circuits (ICs) are vital to overhauling the entire business and industrial ecosystem, given our significant reliance on modern infrastructural machines and computer systems to smoothen operations thoroughly.
Owing to the prolific growth of the electronics industry, India has been on an ambitious journey to becoming a global leader in the semiconductor industry, emphasizing on and establishing domestic manufacturing capabilities. According to TechSci Research, India Semiconductor Market stood at $27,788.29 million in 2022 and is forecast to grow at a CAGR of 24.56 percent by 2028. This growth is driven by the high demand for smaller electronic devices, increasing penetration of the Internet of Things, and the emergence of advanced consumer products. Another report by Counterpoint Research forecasts that in three years, telecom stack and industrial applications will account for two-thirds of the total semiconductor market value in India. Moreover, over 70 percent of the project costs for semiconductor manufacturing are incentivized by the Central and State Governments in India, of which the Central Government funds 50 percent. Also, New Delhi plans to reopen the application process for $10 billion in incentives and assistance to encourage local chipmaking. However, given the predictions, India's semiconductor industry manufacturing is yet to take off, and many manufacturers are boosting it.
In this current edition '10 Most Promising Semiconductor Companies - 2023', of our magazine we have come up with a list of dedicated chipmakers and chip design providers that are backing up the tech giants and at the same time elevating the countrys name in the digital & technology space.
Owing to the prolific growth of the electronics industry, India has been on an ambitious journey to becoming a global leader in the semiconductor industry, emphasizing on and establishing domestic manufacturing capabilities. According to TechSci Research, India Semiconductor Market stood at $27,788.29 million in 2022 and is forecast to grow at a CAGR of 24.56 percent by 2028. This growth is driven by the high demand for smaller electronic devices, increasing penetration of the Internet of Things, and the emergence of advanced consumer products. Another report by Counterpoint Research forecasts that in three years, telecom stack and industrial applications will account for two-thirds of the total semiconductor market value in India. Moreover, over 70 percent of the project costs for semiconductor manufacturing are incentivized by the Central and State Governments in India, of which the Central Government funds 50 percent. Also, New Delhi plans to reopen the application process for $10 billion in incentives and assistance to encourage local chipmaking. However, given the predictions, India's semiconductor industry manufacturing is yet to take off, and many manufacturers are boosting it.
In this current edition '10 Most Promising Semiconductor Companies - 2023', of our magazine we have come up with a list of dedicated chipmakers and chip design providers that are backing up the tech giants and at the same time elevating the countrys name in the digital & technology space.
