The tarot readers at Gartner are predicting that Indian semiconductor revenue is projected to reach a total of $9.2 billion in 2012.
In Gartner's report, with the catchy title "Forecast: Semiconductor Consumption by Electronic Equipment Type, Asia/Pacific, 1Q12 Update", beancounters explain that this is a 20 percent increase and means that India is the fastest growing market in terms of semiconductor consumption for 2012.
Ganesh Ramamoorthy, research director at Gartner, said that chip consumption in India was growing thanks to changing demographics, increasing consumer cash, economic growth and better government policies.
He said that globally, the semiconductor spending is expected to reach $316 billion in 2012, a four percent increase from 2011, with mobile phones, media tablets, PCs, servers, LCD TVs, solid state drives and set-top boxes accounting for nearly half of the total semiconductor consumption during 2012.
Media tablet unit production will increase 78 percent over 2011, and semiconductor revenue from tablets will reach $9.5 billion in 2012 - so a 20 percent growth in India is significant, Gartner said. PC unit production in 2012 is projected to increase 4.7 percent, and semiconductor revenue from PCs will reach $57.8 billion.
Mobile phone unit production is expected to grow 6.7 percent, with semiconductor revenue for mobile phones totalling $57.2 billion in 2012.
In India, mobile phones, PCs and LCD TVs will account for nearly three-fourths of India's semiconductor consumption in 2012.
Mobile phone unit production is expected to grow 21 percent, with semiconductor revenue for mobile phones totaling $4.8 billion in 2012. PC unit production in 2012 is projected to increase seven percent, and semiconductor revenue from PCs will reach $1.8 billion.
LCD TV unit production in 2012 is projected to increase 47 percent, and semiconductor revenue from LCD TV will reach $312 million in 2012.
Ramamoorthy said that Indian consumers were getting more enthusiastic about technology and there was strong domestic economic growth and rising disposable income to pay for it.