In-Stat’s research pegs the semiconductor market in India to grow from $1.2bn in 2005 to $3.1bn by 2010 making it the fastest growing market in the world.
In-Stat said growth is being driven by increased consumer demand for electronics appliances like TV sets and communications devices like cell phones from Indian’s rising affluent middle class.
The researchers expect growth in microprocessors, microcontrollers, memory and DSP technologies.
According to In-Stat analyst Mayank Jain, a mature Indian semiconductor ecosystem will be in place within four years that will lay a solid foundation for the development of more semiconductor manufacturing plants.
By 2010, India will have the entire semiconductor industry in place, and will be in the reckoning among other Asian semiconductor manufacturing countries, he said in an updated report that gives a five-year forecast for semiconductor consumption in India.
In-Stat is part of Reed Elsevier, a $9bn global provider of information services that boasts it is the largest B2B publisher in the US.