Burnaby, British Columbia, Canada, October 15, 2015 --(PR.com
)-- According to a recently released TechSci Research report, “India Chipset Market Opportunities & Forecast, 2020,” the chipset market in India is projected to grow at a CAGR of over 25% during 2015 – 2020. Robust market growth in anticipated on account of implementation of supportive government policies coupled with insatiable 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.
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 technology, LTE technology, etc. along with growing smartphones sales in the country are forecast to pump growth in India chipset market in the coming years. Intel, MediaTek, Qualcomm, and Spreadtrum are a few of the leading chipset players operating in India. Implementation of supportive government policies such as ‘Make in India’ initiative 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 in India, due to high concentration of IT hubs and SEZ in the region.
“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 new and advanced chipset 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 Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.