Albany, New York, January 11, 2017: The rapidly growing market for electronics manufacturing in India is the focus of a new report that has been published to the vast archive of Market Research Hub (MRH). The study titled, ‘Challenges & Opportunities of Electronics Manufacturing Industry in India’ analyzes the market’s present scenario & evaluates that amongst the several electronics manufacturing countries, India is one of the few which is perceiving positive growth with a projected GDP growth of 7.7% in the year 2017.
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The first section of the report comprises an overview of the electronics industry in India. As per the research study, the electronic industry is poised for significant growth, due to the enormous demand in the domestic market and continuing shift to building an end to end manufacturing ecosystem. Currently, Indian electronics industry stands at US425 billion and is ranked 26th in the world in term of sales and 29th in terms of production. It is well known that, the demand for electronics is boosting day by day which is the major factor for the electronics manufactures to develop their position in the market. The growing customer base & the augmented penetration in consumer’s durable segment has provided enough scope for the growth of electronics sector. With this high market growth in India, several companies currently have rushed into this sector including electronic brands and manufacturers.
Also, India is a well-known global player in software services sector and is increasingly becoming a destination for chip design and embedded software. But on the hardware front, the progress is rather slow. Further, the report highlights India’s Advantages in the Electronics Manufacturing Industry which includes the positive outlook, state government support, plans & initiatives. According to the study, in recent years, the entire structure of the industry is determined by the government policies & initiatives which must be conducive & ideal. The “Make in India” campaign launched by Prime Minister Narendra Modi, has given a boost to various sectors including electronics. The initiative also aims to transform India from highly potential market to the powerhouse of manufacturing; thus creating millions of job opportunities.
Moreover, major IT products developing in India are also mentioned. It includes:
- Desktop PC
- Notebook PC
Penetration level in high growth products is equally up and rise in demand for computer/IT products, auto electronics and industrial as well consumer electronics is equally sharp. Moving further, key electronics companies in India and the development of those major players are also mentioned in the report. It consists of raw material, EMS/sub-assemblies, component, and end product manufactures.
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