Eyeing India’s lucrative market possibilities, American chipmaker Analog Devices has been expanding the hiring of its sales and marketing team in its three offices for the past eight months.
Analog Devices, a semiconductor company based in Massachusetts, has raised its sales and application team headcount in India by 30% over the past eight months, according to Vivek Tyagi, managing director of Analog Devices India (ADI), who spoke to reporters on Wednesday.
Following the hiring raise, the company anticipates significant growth in India’s semiconductor market, which is expected to expand from $2.7 billion in 2024 to $11 billion by 2030, with a 27% annual growth rate. It further aims for India to become one of ADI’s top three markets, alongside North America, Europe, Japan, and China.
According to ADI’s disclosure, Analog Devices has offices in Bengaluru, Gandhinagar, and Hyderabad and employs 1,500 people in India, including 1,200 engineers. Worldwide, the company has 26,000 employees across 31 countries and over 11,000 engineers.
However, India’s contribution to Analog Devices’ $12.3 billion global revenue in 2023 was not disclosed. Nevertheless, it was noted that 40% of India’s revenue comes from industrial automation and 30% from the automotive sector.
Emphasising on business expansion and curving employment opportunities in India, Tyagi mentioned that the company is collaborating with major automotive OEMs and partners with Schneider Electric and Honeywell.
The company further stated that Analog Devices has not yet applied for semiconductor production-linked incentives (PLI). Unlike many semiconductor firms, the company operates its fabs and partners with third-party fabs. According to Tyagi, while it has a long-term fab strategy, it has not pursued the PLI scheme.
ADI has design, software, and factory automation teams in India. But more than manufacturing advanced chips locally, Tyagi emphasised the need for a reliable supply of gases, chemicals, and trained personnel, which India can provide.
