India is climbing onto the world stage as a force in semiconductor design, and rapidly rising to take up a critical role in crafting the chips that might power everything from smart phones and artificial intelligence to automotive software and industrial use. The country's semiconductor ecosystem is on a rapid growth trajectory and promises to be one of the leading global hubs. Explosive growth in this industry finds expression in the vibrant activity surrounding fabless design, manufacturing, and the critical functions of packaging, testing, and assembly.

Further robust growth surge in the semiconductor industry is also driven by soaring demand for cutting-edge technologies such as AI, IoT, and 5G. These innovations greatly rely on semiconductors to deliver advanced functionalities and growing computational requirements. This results in market revenues climbing steadily, and this trend will continue into the near term. Industry growth has never been this steep due to the sudden rise of connected devices. The Internet of Things is perceived as a new generation of internet-enabled devices that augmented semiconductor demand significantly.These chips enable data transmission and processing smoothly between smart appliances in homes and sophisticated machinery in industries. Increased connectivity demand will spur the semiconductor business forward through 2024 and beyond. As this digital world continues to shape and evolve, the needs for faster, more efficient chips have no alternative but to grow in importance, promising great prospects for the industry in the years ahead. In the current edition '10 Most Promising Semiconductor Companies - 2024', siliconindia has 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 country's name in the digital & technology space.

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