India semicon market to grow by 15.5%

As per Gartner, India is the hot market for semiconductor devices. India’s semiconductor market for 2011 is estimated at $8.2 billion, with a growth rate of 15.5 per cent compared to 2010 market of $7.1 billion. Gartner bills India as the fastest growing market in terms of semiconductor consumption for 2011. The reasons for growth as per the Garter analysis include changing demographics, increasing consumer affluence, economic growth and favorable government. The release also points increasing number of global electronics OEMs setting up manufacturing facilities in India. Chennai has become hot destination for electronic manufacturing after Nokia setup a plant there. The OEMs such as Nokia buy huge number of analog and discrete semiconductor ICs locally, although from leading international brands, resulting in increase in chips sales locally.