Indian Mobile Components Manufacturing and Assembly Market to Reach $62.8 Billion by 2023


Reading time ( words)

The Indian mobile components manufacturing and assembly market was worth $20.7 Billion in 2017 and is projected to reach a value of $62.8 Billion by 2023, at a CAGR of 19.9% during 2018-2023.

Indian Mobile Components Manufacturing and Assembly Market Trends:

India is currently the second-largest manufacturer for mobile phones in the world, on account of rapid internet penetration, mounting disposable incomes and a large base of tech-savvy consumers. The large and growing demand for mobile phones has led to the rapid development of the domestic manufacturing and assembly units in India.

While the launch of feature phones during the last decade of the 20th century established strong penetration, introduction of smartphones stimulated the market further. Driven by the growth in Internet services, smartphones found high penetration among the urban/Internet savvy population, thereby driving the demand for mobile phone components.

India's demographic profile has experienced a characteristic evolution, which is highly favorable to the mobile phone adoption. Factors such as a large young population, strong working-age population, rising number of working women, and the growth of the Indian middle class have evolved to represent the most influential segments of the population generating new social, technological, and economic trends.

India has a large pool of unskilled, semi-skilled and skilled labor in the major manufacturing states. The easy availability and low cost of labor has encouraged investors to enter the Indian smartphone manufacturing industry.

Continuous technological advancements are pushing mobile phone manufacturers to shorten the product lifecycle and launch new products frequently, for both first-time and replacement consumers. This is fueling the demand for basic mobile phone components such as PCB (Printed Circuit Board), connectors, plastics, metals and acoustics.

Due to the favorable business initiatives by the government, India is expected to witness swift inflow of foreign investments in the next few years. For instance, Samsung has recently inaugurated world's largest mobile phone factory in Noida, Uttar Pradesh, giving huge boost to the mobile phone manufacturing industry in the country. Apart from Samsung, several other Chinese phone manufacturers are expected to expand their manufacturing capacity or set up a new plant in the country during the forecast period.

Although most of the mobile phone manufacturers in India are involved in assembly applications, the growing number of favorable governments schemes are prompting the manufacturers to invest in local value addition and indigenous research.

Share

Print


Suggested Items

4 Key Considerations When Auditing a New EMS Partner

06/07/2019 | Neil Sharp, JJS Manufacturing
Choosing whether (or not) to outsource your electronics manufacturing is likely to bring with it a multitude of questions—and some understandable doubts. Outsourcing is a critical decision—and it’s one that will rely on thorough research, close examination and the asking of some tough questions. This article summarizes four key areas that you'll want to scrutinize as you embark on your supplier selection process.

Synergy Between Smart Manufacturing and the Secure Supply Chain (Part 1)

05/29/2019 | Michael Ford, Aegis Software Corp.
As MRP and ERP functions follow computing trends and start to migrate into the cloud, a fundamental question is being raised as to whether these are still the right tools to use in today’s modern Industry 4.0 driven factory, or whether these need to evolve, be enhanced, or even replaced in order to meet the more extreme requirements of operational flexibility, as well as cope with volatile material availability in the market.

4 Ways Electronics Manufacturers are Growing Their Businesses in 2019

05/27/2019 | Neil Sharp, JJS Manufacturing
At a time when many manufacturers are struggling to remain profitable, and with the uncertainty of the Brexit negotiations still looming large, finding new ways to nurture and grow your electronics manufacturing business has never been more crucial. Yet, despite the current challenges, some EMS providers are bucking the trend with reports of sustained growth. Here is their secret.



Copyright © 2019 I-Connect007. All rights reserved.