ENA Sectors 2025-01-29 16:43:31 <p><span style="font-size:14px"><strong>New Delhi, Jan 29 (KNN)</strong> India's semiconductor industry is poised for substantial expansion, with market value expected to nearly double from USD 52 billion in 2024 to USD 103.4 billion by 2030, according to a comprehensive analysis released by the India Electronics and Semiconductor Association (IESA).</span></p> <p><span style="font-size:14px">The growth trajectory, detailed in a report reviewed by The Financial Express, is primarily driven by the mobile handset, information technology, and telecommunications sectors, alongside contributions from consumer electronics, automotive, aerospace, and defence industries.</span></p> <p><span style="font-size:14px">IESA Chairman V Veerappan highlighted the market's robust compound annual growth rate of 13 percent through 2030, with particular emphasis on emerging opportunities in automotive and industrial electronics segments.</span></p> <p><span style="font-size:14px">The analysis reveals that mobile handsets, IT, and industrial applications currently account for approximately 70 percent of the industry's revenue, a trend expected to continue as the market expands.</span></p> <p><span style="font-size:14px">The report emphasises the critical role of research and development in driving innovation across key product categories, including smartphones, hearables, consumer durables, and routers.</span></p> <p><span style="font-size:14px">IESA President Ashok Chandak noted significant industry momentum, citing over USD 21 billion in investments committed by IESA member companies in the past year.</span></p> <p><span style="font-size:14px">This investment surge aligns with government initiatives providing targeted incentives for fabrication facilities and Outsourced Semiconductor Assembly and Test (OSAT) operations.</span></p> <p><span style="font-size:14px">To sustain this growth trajectory, IESA recommends several strategic initiatives, including extending the semiconductor incentive scheme beyond its current USD 10 billion allocation and reforming the design-linked incentive program.</span></p> <p><span style="font-size:14px">The association has established ambitious targets for local value addition in electronics manufacturing, aiming for 25 percent by 2025-26 and 40 percent by 2030.</span></p> <p><span style="font-size:14px">Additionally, the report advocates for implementing a unified product development scheme and emphasises the paramount importance of workforce development in supporting the industry's expansion.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 40832 https://knnindia.co.in/news/newsdetails/sectors/indias-semiconductor-market-set-to-double-to-usd-103-bn-by-2030-iesa-report 2025-01-29 16:43:31 knnindia.co.in