Growing demand for smartphones & consumer electronics coupled with favorable government initiatives to boost India power management IC market through 2020
Online PR News – 15-March-2015 – Burnaby, British Columbia – According to the recently published TechSci Research report “India Power Management IC Market Forecast & Opportunities, 2020” the market for power management IC (PMIC) in India is projected to grow at over 10% CAGR during 2015-20. Increasing demand for portable devices such as smartphones & tablets and rising adoption of consumer electronics is expected to boost the demand for power management ICs in the country. Continuous expansion of automotive & industrial sectors are the key growth drivers for PMIC market in India through the forecast period.
Currently, India imports PMICs for integration in mobile devices and other electronic devices from countries like China and Taiwan. The country lacks in indigenous facility for fabrication of chips, but has a strong base of design industry. Semiconductor design industry in India is quite mature and consists prominent global and domestic players operating in the country. For instance, global semiconductor giants including Texas Instruments, Maxim, STMicroelectronics, etc. have their design and research & development centers in India. The country also provides a strong platform to domestic as well as global manufacturers for investment inthe area of semiconductor manufacturing and design.
Government of India is likely to play an important role in the growth of India semiconductor industry over the coming years. Initiatives like Modified Special Incentive Package Scheme (M-SIPS) for Electronics System Design and Manufacturing (ESDM) sector are anticipated to attract domestic and global companies towards India. Government has also approved establishment of two semiconductor fabrication units in the country. All these initiatives are expected to be a game changer for Indian PMIC industry.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Power Management IC Market Forecast & Opportunities, 2020” has analyzed the potential of power management IC market and provides statistics and information on market size, regional analysis for the power management IC industry. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.