Indian RF component market is expected to grow at a CAGR of approximately 13.6% during the forecast period. Globally, India is the 2nd most populous country after China, with more than 1.3 billion inhabitants as per the UN. The major factors for the surging RF components demand in the country include increasing automobile production, growing demand for consumer electronics, and increasing focus on military and defense. As per the Indian Brand Equity Foundation (IBEF), India is the 2nd largest telecommunications market across the globe with a subscriber base of more than 1.1 billion in 2016. Indian mobile economy is growing rapidly and is the 4th largest mobile-phone application country across the globe.
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As per NITI (National Institution for Transforming India) Aayog, there were more than 220 million smartphone users in India in 2016, which is further expected to increase to 350 million in 2020. The mobile phone penetration is still untapped in India as there were 84 subscriptions over 100 inhabitant which is quite low as compared to a developed economy. The less penetration of mobile phones reflects a huge opportunity for the RF components market in near future. The huge investment in the telecom sector is expected to increase the mobile phone and its accessories market in near future.
Moreover, India has one of the largest automotive markets across the globe. According to IBEF (India Brand Equity Foundation), the Indian auto industry became the 4th largest across the globe, with sales increasing 9.5% year-on-year to 4.02 million units (excluding two wheelers) in 2017. According to Society of Indian Automotive Manufacturer, in 2017, the sales of the passenger vehicle have been increased by 9.2%, year-on-year basis. It is one of the preferred destinations for global automotive players and OEMs for manufacturing the automotive parts such as speakers, electronics parts, navigation systems and so forth. This contributes to the growth of the RF components market in India.
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India RF Component Market Segmentation
By Product Type
· Antenna Switches
· Filters
· Amplifiers
· Duplexer
· Others (Modulators)
By Application
· Consumer Electronics
· Automotive
· Military & Defence
· IT & Telecom
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
