Driven by increasing consumption of mobile phones, computers and LCD televisions, India's semiconductor revenues are expected to reach USD 15 billion by 2015, research firm Gartner on Thursday said.

Consumption is projected to touch USD 8.2 billion in 2011, a 15.5 per cent increase from USD 7.1 billion in 2010, Gartner said in a statement. Going forward, consumption is projected to grow at a compound annual growth rate of over 15.9 per cent to reach nearly USD 15 billion in 2015, it added.

"Changing demographics, increasing consumer affluence, economic growth and favorable government policy continue to drive the electronic equipment manufacturing industry in India," Gartner Research Director Ganesh Ramamoorthy said.

Numerous global electronic equipment manufacturing companies have set up production facilities in India to take advantage of the growing domestic market and to cater to neighboring markets in the region, he added.

The communications electronics segment, which includes mobile phones, wireless LAN, public switching and other communications infrastructure equipment, is expected to account for the largest chunk of nearly 52 per cent of India's semiconductor consumption in 2011.

This will be followed by the data processing electronics segment comprising desktop computers, laptops, monitors and storage equipment, with about a 26 per cent share of total semiconductor consumption.

"Given the low penetration and the growing demand for key electronic equipments such as mobile phones, desktop and laptop computers and LCD TVs, we believe the Indian market will be able to easily sustain high growth rates in the coming years," Ramamoorthy said.

As a result, India's semiconductor consumption is expected to grow at the fastest rate across the globe through 2015, he added. "Through 2015, nearly three-fourths of India's semiconductor consumption will be accounted for by these three electronic equipment segments," Ramamoorthy said.