The future of the semiconductor industry is looking bright, with the AI market expected to soar to a staggering US$ 321.66 billion by 2033. This exponential growth is not limited to the global market, with India emerging as a key player in the AI revolution. The Indian AI market is expected to reach a significant milestone, reaching US$ 28.8 billion by 2025.
The Rise of AI in India: A Growing Need for Skilled Professionals
India is on the cusp of an AI-led revolution, with the demand for AI professionals expected to reach nearly one million by 2026. This surge in demand is driven by the growth of the e-commerce industry, which is expected to reach the $345 billion mark by FY30. As the industry scales rapidly, the pressure behind the scenes is increasing, with employees, tech issues, and HR chaos becoming a major concern.
IT Services Companies: The Silent Revolution
The first quarter of Fiscal Year 2025-26 has delivered a mixed bag for India’s leading IT services companies – TCS, Wipro, Infosys, Tech Mahindra, and HCLTech. While pockets of strong deal wins and a growing emphasis on Artificial Intelligence (AI) offered glimmers of hope, persistent macroeconomic uncertainties continue to translate into cautious client spending and a generally subdued revenue growth trajectory.
BFSI: The Next Frontier for AI Adoption
A new report reveals that despite 93.3% of BFSI companies considering data to be critical, only 27% are actually prepared for the transition towards an AI-led era. This lack of preparedness is surprising, given that 78% of BFSI companies are actively exploring generative AI. The report highlights the need for BFSI companies to upskill their workforce and invest in AI technology to stay ahead of the curve.
Conclusion
The future of the semiconductor industry is poised for exponential growth, driven by the adoption of AI technology. As the demand for AI professionals continues to rise, it is essential for companies to invest in upskilling their workforce and embracing AI innovation. Whether it’s the e-commerce industry, IT services, or BFSI, the opportunities for growth are vast, and those who are prepared to adapt will be the ones who reap the benefits of this AI-led revolution.
Originally published on https://electronicsbuzz.in/ai-in-semiconductor-market-soars-toward-us-321-66-billion-by-2033/
