February 6, 2007 – India’s IC design services industry will grow at a 20%/year clip through 2010, as low costs and skilled workers continue to attract outsourcing business from IDMs and new local offices, according to data from analyst firm In-Stat.

Design revenues were approximately $869 million in 2005, but will surge to $2.45 billion by 2010, as Indian design companies expand from piecemeal design work to encompassing the entire design chain, according to the firm. Meanwhile, the number of design engineers is also projected to swell, from just over 12,000 in 2005 to nearly 41,000 by 2010. Close ties to academia will help fuel the need for manpower, the report notes.