$64 billion by 2026

A joint report by Counterpoint Research and the India Electronics & Semiconductor Association (IESA) forecast that India’s semiconductor market to touch $64 billion by 2026, nearly tripling its 2019 size of $22.7 billion. The forecast is set to be driven by both domestic and export markets with significant demand from the consumer electronics, telecom, IT hardware and industrial sectors. The country’s telecom stack and industrial applications will account for two-thirds of the total market share.