India chipset market to grow 25 percent over 5 years

MUMBAI, INDIA: The chipset market in India is projected to grow at a CAGR of 25 percent during 2015 - 2020.

According to a new report released by TechSci Research titled, India Chipset Market Opportunities & Forecast, 2020, robust market growth is anticipated on account of implementation of supportive government policies coupled with consumer appetite towards adoption of new technologies.

Being a major developing economy, India is emerging as a one of the fastest growing chipset markets across the globe, the report noted.

Over the past few years, chipsets have undergone radical changes in terms of technology. Robust growth in adoption of high-end technology products such as mobile 4G, LTE along with growing smart phones sales in the country are forecast to pump growth in the chipset market in the coming years.

Implementation of supportive government policies such as Make in India is expected to play an important role in attracting investments into electronics manufacturing in the country over the next five years. Southern India is the largest regional market for chipsets due to high concentration of IT hubs and SEZ.

"Rising sales of electronics, especially smart devices, growing population base, increasing GDP and surging penetration of 3G and 4G technologies is forecast to propel growth in India chipset market in the coming years. Manufacturers are focusing on the launch of advanced technologies in order to enhance the overall user experience of various electronics. The market offers tremendous opportunities on account of growing gaming market, and increasing need for smarter devices with advanced processors to support seamless multi-tasking," said Karan Chechi, Research Director, TechSci Research.