The semiconductor industry in India is estimated to grow from $10.02 billion in 2013 to $52.58 billion in 2020 at CAGR of 26.72%, according to Research and Markets new report the “Semiconductor Market in India 2014 – 2020.”

India has a very large industry base of electronics items, but there is little manufacturing base for semiconductors. As of now India doesn’t have any operational wafer fabrication plants and depends extensively on the imports. Currently, the semiconductor industry is 100% import based with India importing semiconductors worth $10 billion in 2013. Since In 2013, India spent $169 billion on oil imports, $54 billion on gold imports and $31.5 billion on electronic imports.

Semiconductors are used extensively in various applications, which offer immense potential for the growth of this industry in India. Semiconductors are used majorly in Mobile Devices, Telecommunications, Information Technology & Office Automation (IT & OA), Industrial, Automotive and other industries (Aerospace, Defense and Medical industries).

Mobile devices are expected to grow at CAGR of 33.4% from 2013 to 2020, according to this research report,. The contribution to semiconductor revenue is expected to grow from 35.4% in 2013 to 50.7% in 2020.

Telecommunication segment is expected to grow at CAGR of 26.8% from 2013 to 2020 and its contribution to total revenue will remain the same at 19.7% in 2020.

IT&OA contribution to the total semiconductor revenue will come down from 28.3% in 2013 to 17.4% in 2020 due to consolidation in this sector. This segment will grow at CAGR of 18.2% over the next seven years.

The consumer electronics segment is expected to grow at CAGR of 18.8% and the contribution to the total semiconductor revenue will come down from the current level of 5.6% in 2013 to 3.5% in 2020. Industrial electronics segment is expected to grow at CAGR of 19.6% and the contribution to the total semiconductor revenue will come down from current level of 4% to 2.7%.

Automotive electronics segment is expected to grow faster at CAGR of 30.5% from 2013 to 2020; its revenue contribution will increase from 3.2% in 2013 to 3.9% in 2020.

This study looks at the current state of the semiconductor industry in terms of products and service offerings and their growth over the last few years. The growth drivers and inhibitors of the industry are also examined in detail. The value chain of the industry in India has also been identified and mapped out. Based on all these factors, the report makes projections for the market size in 2020 in terms of products, services, application domains and overall market potential.

In addition to this, the report contains profiles of and inputs from several key companies operational in this sector. 24 companies have been extensively profiled in this report, to cover the entirety of the value chain.

Read more: Global semiconductor industry on pace for record sales through first half of 2014