Market Research Report
India Automotive Semiconductor Market Forecast 2021-2026
|India Automotive Semiconductor Market Forecast 2021-2026|
Published: August 23, 2021
Content info: 125 Pages
Delivery time: 2-3 business days
The India automotive semiconductor market is projected to record a CAGR of 9.19% during the forecast period, 2021-2026. India's automotive industry is the third-largest heavy truck manufacturer, fourth-largest car manufacturer, and second-largest bus manufacturer in the world.
At present, the semiconductor manufacturing giants in the auto industry are based in East Asia, the EU, and the Americas. These have bases in India with regard to R&D and designing. This offers advantages in terms of progress and revenue. Another important factor is the rising demand for smart semiconductor solutions from the automobile industry. As a result, establishing semiconductor manufacturing units in the country facilitates access to semiconductor design companies.
Moreover, the country has a prominent electronics system design manufacturing (ESDM) industry. It also has a robust design base. As per the Department of Electronics and Information Technology (DeitY), India designs around 2000 chips every year. In addition, the government is increasingly prioritizing the ESDM ecosystem, with incentives and subsidies for setting up manufacturing units in the country. This is set to boost the semiconductor market growth, thereby propelling the growth of the market analyzed.
Robert Bosch GmbH, NXP Semiconductors, ASM Technologies, Chiplogic Technologies, Tata Elxsi, eInfochips, etc., are some of the eminent firms in the market.