India chip component market to grow to $300 billion from 2021 to 2026: Report

Chennai: India’s semiconductor component market will see its cumulative revenues climb to $300 billion during 2021-2026, a report said Tuesday.

The ‘India Semiconductor Market Report, 2019-2026’, a joint research by the India Electronics & Semiconductor Association (IESA) and Counterpoint Research, observed that India is poised to be the second largest market in the world in terms of scale and growing demand for semiconductor components across several industries and applications.

It added that this was being bolstered by the increasing pace of digital transformation and the adoption of new technologies and covers smartphones, PCs, wearables, cloud data centers, Industry 4.0 applications, IoT, smart mobility, and advanced telecom and public utility infrastructure.