India's electronics sector is poised for significant growth in the coming years, driven by a confluence of favourable factors. These include a young and growing population, strong government support, and a shift in global trade patterns. This rising demand for electronics presents a fertile ground for the Indian Electronics Manufacturing Services (EMS) sector.
The global electronics industry is projected to reach a value of $3.1 trillion by 2026, with an annual growth rate of nearly 5%. A particularly dynamic segment within this industry is the Electronic Manufacturing Services (EMS) sector, which is expected to grow even faster at a rate of approximately 5.4% per year, reaching $1.1 trillion by 2026.
India is set to capture a massive share of the global EMS market by 2026. Fuelled by a booming domestic electronics market projected to reach $282 billion by 2026, growing at an impressive 25.5% annually - and strong export demand, India's slice of the EMS pie is expected to reach 7% of the total market, valued at roughly $80.2 billion.
India's domestic electronics market is massive and growing rapidly. Fuelled by a Compound Annual Growth Rate (CAGR) estimated at 30% or more between FY23 and FY28E, the market is likely to reach a staggering ₹ 9 trillion.
This story is from the April, 2024 edition of Beyond Market.
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This story is from the April, 2024 edition of Beyond Market.
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