Market Reports on India presents the report on “India Power Management IC Market Forecast and Opportunities, 2020.” The industry is currently facing a set of specific challenges including lack of indigenous semiconductor manufacturing base and skilled manpower in India.
April 9, 2015: Market Reports on India presents the report on “India Power Management IC Market Forecast and Opportunities, 2020.” To increase indigenous operations, many global and domestic companies have set up their design and R&D centres in the country, which calls for an opportunity to develop home-grown chips.
India is one of the largest markets for electronic equipment such as portable devices, consumer electronics, and automotive & industrial systems. To draw power, these devices are equipped with Power Management Integrated Circuits (PMICs), which is a class of specialised semiconductors designed to optimise the performance of devices by managing their power usage and requirements. The market for PMICs in India is anticipated to rise over the coming years on account of continuously increasing production and sales of electronic goods every year. However, the industry is currently facing a set of specific challenges including lack of indigenous semiconductor manufacturing base and skilled manpower in India. As a result, the industry is entirely dependent on imports from other countries. To increase indigenous operations, many global and domestic companies have set up their design and R&D centers in the country, which calls for an opportunity to develop home-grown chips.
According to “India Power Management IC Market Forecast & Opportunities, 2020,” power management IC market in India is expected to witness double digit growth at a CAGR over 10 per cent during 2015-2020. Government initiatives such as introduction of Modified Special Incentive Package Scheme (M-SIPS) for Electronic System Design and Manufacturing (ESDM) sector to attract domestic and global investors are likely to boost semiconductor manufacturing in the country. Under this scheme, the government has also announced subsidies on investments in Special Economic Zones (SEZ) and reimbursement of CVD/Excise in non-SEZ units. Segment wise, voltage regulators and battery management ICs are expected to dominate the market over the next five years. Besides traditional industry segments like consumer electronics and mobiles devices, the demand for PMICs is also expected to grow within other application sectors like IT and office automation, networking and telecom equipment, and other industrial devices through the forecast period.
