According to the market research firm, India is the fastest growing market in terms of semiconductor consumption in 2012.
Gartner research director Ganesh Ramamoorthy said that Semiconductor consumption in India is being driven from the changing demographics, increasing consumer affluence, economic growth and favorable government policy.
"Global electronic equipment manufacturing companies continue to expand their production facilities in India," Ramamoorthy said.
"The recent announcement by Nokia to move its mobile phone production facilities to Asia/Pacific is bound to benefit India as well, where Nokia already has a large production facility catering to the growing domestic and neighboring markets in the region. As a result, semiconductor consumption is set to grow at a rapid pace."
During 2012, the Semiconductor market across the globe is forecast to grow at 4% to $316bn over last year, with mobile phones, media tablets, PCs, servers, LCD TVs, solid state drives and set-top boxes driving nearly 50% of the total semiconductor consumption.
Globally, media tablet unit production is expected to grow 78% over 2011, and semiconductor revenue from media tablets will reach $9.5bn in 2012, the report revealed.
For 2013, PC unit production is projected to increase 4.7%, and semiconductor revenue from PCs will reach $57.8bn, while mobile phone unit production is expected to increase 6.7%, generating $57.2bn revenue from semiconductor segment.
The study reveals that during 2012, mobile phones, PCs and LCD TVs will account for nearly three-fourth of India’s semiconductor consumption in India.
Mobile phone unit production is expected to grow 21% which will generate semiconductor revenue totaling $4.8bn, while PC unit production expected to grow 7% providing $1.8bn semiconductor revenue.
LCD TV unit production in India in 2012 is believed to increase 47%, and semiconductor revenue this segment will touch $312m revenues in 2012.
