Smartphones, wearables and automotive components are set to push the Indian semiconductor market to $55 billion by 2026 and $85 billion by 2030.
Releasing a prediction report for Technology, Media and Telecommunication on Monday, research firm Deloitte said the semiconductor chip shortage over the past two years had amplified the importance of this industry and exposed the underlying risks in the value chain.
“Risks like geopolitical threats, fluctuating demand from original equipment manufacturers (OEMs), natural disasters and economic sanctions also present a unique opportunity for India, positioning it as the next big manufacturing destination,” P N Sudarshan, Partner and TMT (Industry Leader, Deloitte India), said.
The sector will also get a boost from the advent of 5G and IoT, and data storage requirements and will attract investment and talent.
“The Production Linked Incentive (PLI) and Design Linked Incentive (DLI) packages are also expected to attract investments and establish India as a centre for semiconductor manufacturing,” he said.
The report forecast that the Indian sports market would grow to $100 billion by 2027 from $27 billion in 2020, growing at a compound annual growth rate of 20 per cent..
The rising popularity of NFTs, merchandise and IP-related sports commerce among sports persons and fans, especially Gen Zs, is expected to benefit a diverse range of sports,” the report said.
The report said television would remain relevant and digital media will grow significantly.
“Advertisement pricing may witness a slow growth or even a plateau,” it said.
“As the Indian sports market grows, it is essential to keep an eye on digital growth and infrastructure development, given that the Indian sports market is predicted to grow twice as quickly as compared with global markets,” Jehil Thakkar, Partner, Media and Entertainment Sector Leader, Deloitte India, said.
The growth of 5G Standalone (SA) networks is expected to witness and further accelerate private network deployment.
“India’s push towards advancing its telecom and data centre infrastructure, presents a great opportunity for enterprises to utilise edge computing and 5G technology to enhance their operations,” Peeyush Vaish, Partner and Telecom Sector Leader, Deloitte India, said.
The report predicted that the economic impact of 5G would potentially be $450 billion by 2040, driven by cross-sector contributions for productivity and efficiency gains.