India Televisions Market to Zoom to $ 13 Billion by 2023
Rising
innovations in technology and display quality, coupled with growth of
e-commerce industry and rising disposable income to drive India television
market until 2023
According to TechSci Research report, “India Television Market
By Screen Size, By Display Type, By
Resolution, By Connectivity, By Distribution Channel, Competition Forecast
& Opportunities, 2013-2023”, India
television market is projected to cross $ 13 billion by 2023. Growth in the
country’s television market is anticipated on account of rising number of technological
advancements in the manufacturing of televisions and increasing demand for large
screen televisions as well as smart televisions. Additionally, increasing
disposable income allowing the customers to spend more on televisions and
booming e-commerce sector is further likely to steer growth in India television
market during the forecast period. According to a survey conducted by Broadcast
Audience Research Council (BARC) in 2016, the number of households with
televisions in the country grew to 183 million in 2017 from 154 million in 2015. Moreover, the reduction of import
duty by the government on open-cell panels is expected to further boost the
production of televisions in the country.
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On the basis
of screen size, television market can be broadly categorized into below 30”,
30”-39”, 40”-47” and 48” & above. The 30”-39” segment dominated the market in 2017 as these televisions are
high in demand and are relatively less expensive than other higher screen size
televisions. As per a recent Voice of Customer survey conducted by TechSci
Research, screen resolution and technology of a television were identified as
the most influencing factors while purchasing a television. Samsung India Electronics Private Limited, LG
Electronics India Private Limited, Sony India Private Limited, and Panasonic
India Private Limited are some of the
leading players operating in India television market. In terms of region, South
region has dominated the market with more than one-third of the volume share in
2017. The region is expected to generate significant demand for televisions and
remain dominant through 2023 as well on account of high penetration of
televisions and faster acceptance of new technologies in the region as compared
to other regions.
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“India
television market is highly price sensitive and is majorly dominated by
Japanese and Korean manufacturers. Rising number of households and commercial &
institutional establishments is contributing to the growing demand for
televisions across the country. Moreover, easy financing options and
introduction of new modes of payment is likely to positively influence India
television market in the coming years. Additionally, decreasing prices of large
screen televisions is expected to drive sales of televisions above 48 inches,
which would further steer growth in the market until 2023.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India Television Market By Screen Size, By Display Type, By Resolution, By Connectivity, By
Distribution Channel, Competition Forecast & Opportunities, 2013-2023” has
evaluated the future growth potential of India television market and provides
statistics and information on market structure, size, share and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the India television market.
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