India Semiconductor Market Set to Triple by 2030, Driven by Smartphones, EVs, and 5G Adoption

NOIDA NCR, India - Sept. 2, 2025 - PRLog -- The India Semiconductor Market is poised for exponential growth, with its market size valued at approximately USD 38 billion in 2024 and expected to surge to USD 105 billion by 2030, at a CAGR of 18%, according to a recent report by MarkNtel Advisors.

Government Initiatives Fuel Market Expansion

The Indian government's Production Linked Incentive (PLI) scheme has been a significant catalyst, promoting local semiconductor manufacturing and research & development. The initiative aims to reduce India's dependence on imports while attracting global investments. Cities like Hyderabad, Bangalore, and Pune are emerging as key semiconductor hubs, fostering innovation and technology-driven growth.

Consumer Electronics and EVs Drive Demand

Rapid digitalization and the expanding middle class are driving robust demand for consumer electronics, including smartphones, laptops, tablets, smart home devices, and wearables. Consumer electronics account for approximately 45% of the market share, with India consuming over 140 million devices in 2023, each requiring advanced semiconductor components.

The growth of electric vehicles (EVs) further amplifies semiconductor demand, as chips are integral to battery management, charging infrastructure, and vehicle automation. Additionally, AI, machine learning, and 5G-enabled edge computing are increasing the need for high-performance chips, providing new opportunities for semiconductor suppliers in India.

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Front-End Equipment Leads Semiconductor Fabrication

Front-end semiconductor fabrication, including wafer cleaning, etching, deposition, and lithography, constitutes around 65% of the industry. Advanced equipment from companies like ASML and Applied Materials supports India's growing fabrication capabilities, including 7nm and 5nm technologies. Projects like the Vedanta-Foxconn semiconductor fab are further driving the adoption of front-end equipment across India.

Competitive Landscape

Leading players in India's semiconductor ecosystem are pursuing strategic collaborations, mergers, and acquisitions to strengthen market presence. Notable companies include Tata Elxsi, HCL Technologies, MosChip, Dixon Technologies, ASM Technologies Ltd., Vedanta Limited, Bharat Electronics Limited, and CG Power. These firms are expanding production capacities, introducing advanced technologies, and meeting rising domestic and global demand.

Market Outlook

With strong government support, increasing consumer adoption, and advancements in AI, 5G, and EV technologies, India is positioning itself as a global semiconductor hub. The sector is set to witness sustained growth through 2030, offering lucrative opportunities for investors and technology providers.

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