Automotives, power and telecom to drive semiconductor growth in India
It has been reported that automotive, telecom and power sectors will drive the growth rate of the semiconductor industry in India, despite the decline in the global growth rate.
"The automotive, telecommunication and power distribution segments represent a significantly growing market for microcontrollers in India", announced Steve Sanghi, President and CEO, Microchip Technology, provider of microcontroller and analog semiconductors. He also added, "The global growth trend in the semiconductor market was less than optimistic. Though earlier the global semiconductor market had witnessed a double digit rise, in the past 5-10 years the growth had slowed down to a single digit (7-8%) of late, throwing up major challenges for the industry."
Though the Indian semiconductor market currently represents only one per cent of the global market of US$280 billion, its growth rate is higher than that of the global average. The growing demand for better energy management is expected to increase adoption of digitally programmable microcontroller solutions in motor, lighting and power related applications.
According to Sanghi, India is set to play a key role in Microchip's future. The company plans to invest significantly in education and training programmes to help India meet the growing demand for microcontroller-based applications.
India is also important in terms of designing of products, which indirectly contributes to 20-30% of the company's revenues coming from sale of products.
