|
Forecast Period
|
2026-2030
|
|
Market Size (2024)
|
USD 12.18 Billion
|
|
CAGR (2025-2030)
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13.5%
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|
Fastest Growing Segment
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Residential
|
|
Largest Market
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North
|
|
Market Size (2030)
|
USD 26.03 Billion
|
Market Overview
India Television Market was valued at USD
12.18 Billion in 2024 and is anticipated to grow with a CAGR of 13.5% through 2030.
Television sets, commonly known as TVs, are electronic devices that showcase
moving images and sound by receiving broadcast signals via a tuner and
projecting them onto a screen. Initially bulky and CRT-based, TVs have evolved
significantly with the adoption of LCD technology, becoming slimmer and
lighter. The television market is extensive, with TVs being a household
essential. It has transitioned from being dominated by CRT to LCD screens, and
newer technologies such as OLED are gaining prominence. According to the
International Data Corporation (IDC) Quarterly Smart Home Devices Tracker,
India saw shipments of 4.5 million televisions in the first half of 2023,
marking an 8% increase compared to the previous year. This growth was driven by
frequent sales events by e-commerce platforms, extensive new product launches
and model updates by manufacturers, and the clearance of older inventory
through various channels ahead of the festive season. The online channel
witnessed significant expansion, capturing a 25% increase year-over-year in the
first half of 2023, achieving a 39% market share driven by online sales
festivals. Although 32-inch and 43-inch screens remain popular, collectively
holding a 71% market share, larger screen sizes are gaining traction. The share
of 55-inch screens increased to 12% from 9% a year ago in the first half of
2023, contributing to a 35% year-on-year growth in the USD$400+ price segment.
Despite stable sales figures, the market
continues to innovate, particularly with advancements in smart TV
functionalities and seamless integration with streaming services. According to some studies, the media and
entertainment sector, including television, is projected to achieve a market
size of USD100 billion by 2030. In India, the media and entertainment industry
has surpassed USD27.56 Billion, with television accounting 30%. Despite
television maintaining its status as the largest contributor historically,
digital media is anticipated to surpass it in the near future. While overall TV viewing time has seen a
modest increase of 2%, there has been a slight decline of 1% in affluent
audiences' TV consumption. This decrease has been offset by a 4% rise in TV
viewing among lower-income audiences.
Key Market Drivers
Rising
Disposable Incomes and Urbanization
India's economic growth has led to a substantial
increase in disposable incomes among its population. As more households move
into the middle and upper-income brackets, there is a greater propensity to
spend on consumer electronics, including televisions. Urbanization, with more
people living in cities and towns, also plays a crucial role. Urban areas
typically have higher television penetration rates due to better
infrastructure, higher media consumption, and greater exposure to new
technologies.
The increase in disposable incomes and urbanization
has propelled the demand for larger screen sizes, higher resolution displays,
and advanced features in televisions. Consumers are now more inclined towards
purchasing smart TVs that offer internet connectivity, streaming services, and
interactive features. This trend is expected to continue as urbanization
progresses and consumer aspirations for better viewing experiences grow.
Technological
Advancements and Product Innovation
Technological advancements have been pivotal in
shaping the television market in India. The transition from traditional CRT
(cathode-ray tube) to modern LCD (liquid crystal display) and LED
(light-emitting diode) screens has significantly improved picture quality,
reduced power consumption, and enabled thinner designs. The introduction of
OLED (organic light-emitting diode) and QLED (quantum dot LED) technologies has
further enhanced viewing experiences with deeper blacks, brighter colors, and
better contrast ratios.
Product innovation has also driven market growth.
Manufacturers continually introduce new features such as HDR (high dynamic
range), higher refresh rates, and improved sound systems to cater to consumer
demands for immersive home entertainment experiences. Smart TVs, equipped with
built-in Wi-Fi, app stores, voice control, and compatibility with streaming
services like Netflix and Amazon Prime Video, have become increasingly popular
among tech-savvy consumers.
Increasing
Demand for Content and Entertainment
The demand for diverse and high-quality content has
been a significant driver of the television market in India. With the
proliferation of digital streaming platforms, OTT (over-the-top) services, and
satellite TV providers, consumers have access to a vast array of entertainment
options. This includes movies, TV shows, sports events, documentaries, and
educational programs.
The COVID-19 pandemic further accelerated this trend
as people spent more time at home, leading to increased consumption of digital
content on televisions. This shift in viewing habits has underscored the
importance of having a quality television with enhanced audio-visual
capabilities. As content providers continue to invest in producing original and
exclusive content, there is a corresponding demand for televisions that can
deliver an immersive and cinematic experience at home.
Government
Initiatives and Regulatory Policies
Government initiatives and regulatory policies also
influence the television market in India. Programs such as Digital India and
Make in India promote domestic manufacturing, thereby boosting the production
of televisions within the country. This has led to increased availability of
affordable TVs for consumers across different income segments.
Regulatory frameworks, such as the implementation of
the Goods and Services Tax (GST), impact pricing and market dynamics.
Reductions in import duties on key components used in television manufacturing
have encouraged local assembly and production, contributing to lower prices and
improved availability of technologically advanced models.
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Key Market Challenges
Price
Sensitivity and Affordability
Price sensitivity is a significant
challenge in the Indian television market, particularly in a country where a
large portion of the population belongs to middle and lower-income groups.
While the demand for televisions with advanced features like smart capabilities
and high-definition displays is increasing, affordability remains a critical
factor. Many consumers are constrained by budget limitations, which restrict
their ability to purchase higher-end models with the latest technologies.
Manufacturers and retailers are
continually pressured to offer competitive pricing while balancing the costs
associated with importing components, technological upgrades, and distribution
expenses. This challenge is exacerbated by fluctuations in exchange rates,
import duties, and regulatory policies that affect the final retail prices of
televisions.
Diverse
Consumer Preferences and Regional Variances
India is a diverse country with varied
consumer preferences and regional differences. Preferences for screen sizes,
features, and brands can vary significantly across different states and cities.
While urban areas generally exhibit higher demand for larger screen sizes and
smart TVs, rural markets may prioritize affordability and basic functionality.
Navigating these diverse preferences
requires tailored marketing strategies, localized product offerings, and
distribution channels that cater to specific regional requirements. This
complexity adds operational challenges for manufacturers and retailers seeking
to penetrate and expand their market share across diverse demographic and
geographic segments.
Intense
Competition and Market Saturation
The television market in India is highly
competitive, characterized by the presence of both domestic and international
brands offering a wide range of products across various price points.
Established players like Samsung, LG, Sony, and Panasonic compete with emerging
brands and local manufacturers vying for market dominance.
Intense competition contributes to price
wars, reducing profit margins for manufacturers and limiting opportunities for
new entrants to gain traction. Market saturation in urban areas, where
television penetration rates are relatively high, further intensifies
competition as brands strive to differentiate themselves through innovation,
product quality, and after-sales service.
Technological Obsolescence
and Rapid Advancements
Technological obsolescence poses a
challenge for both consumers and manufacturers in the television market. The
rapid pace of technological advancements, such as the transition from LCD to
OLED screens or the integration of AI-driven smart features, can render older
models obsolete within a short span of time.
Consumers often face the dilemma of
choosing between investing in new technologies that promise enhanced viewing
experiences and sticking with existing models that may become outdated.
Manufacturers, on the other hand, must continually innovate and upgrade their
product offerings to stay competitive and meet evolving consumer expectations.
Infrastructure
and Connectivity Issues
Infrastructure and connectivity
challenges in certain parts of India, particularly in rural and remote areas,
present obstacles to the adoption of advanced television technologies. Limited
access to reliable electricity, internet connectivity, and digital broadcasting
services can hinder the uptake of smart TVs and high-definition content.
Addressing these infrastructure gaps
requires investments in telecommunications infrastructure, digital broadcasting
networks, and initiatives to enhance electricity supply reliability in
underserved regions. Improving connectivity and accessibility to digital
services are essential for expanding the reach of television manufacturers and
ensuring equitable access to modern entertainment technologies across the
country.
Key Market Trends
Shift
towards Larger Screen Sizes and Higher Resolutions
One of the prominent trends in the
Indian television market is the increasing preference for larger screen sizes
and higher resolutions. As disposable incomes rise and consumers seek enhanced
viewing experiences, there is a growing demand for televisions with bigger
screens, such as 55 inches and above. Larger screens provide a more immersive
viewing experience, making them ideal for watching high-definition content,
sports events, and movies.
Simultaneously, there is a shift towards
higher resolution displays, particularly 4K Ultra HD and even 8K resolutions.
These technologies offer sharper images, vibrant colors, and better clarity,
catering to the discerning preferences of Indian consumers who prioritize
visual quality in their home entertainment setups.
Adoption
of Smart TVs and Connected Features
Smart TVs have gained significant
traction in the Indian market, driven by the increasing availability of
high-speed internet connectivity and the growing popularity of digital
streaming services. Smart TVs offer built-in Wi-Fi capabilities, app stores, and
compatibility with popular streaming platforms such as Netflix, Amazon Prime
Video, and Disney+ Hotstar.
Consumers are increasingly seeking
televisions that not only provide traditional broadcast content but also offer
a range of interactive features, voice control options, and access to a wide
array of on-demand content. This trend is reshaping viewing habits, as
households embrace the convenience of streaming their favorite shows, movies,
and live sports directly on their TV screens.
Rise
of OLED and QLED Technologies
OLED (organic light-emitting diode) and
QLED (quantum dot LED) technologies represent a significant advancement in
television displays, offering superior picture quality and enhanced viewing
experiences. OLED TVs, known for their deep blacks, rich colors, and wide
viewing angles, have garnered attention among consumers seeking premium viewing
experiences.
Similarly, QLED TVs utilize quantum dots
to enhance brightness levels, color accuracy, and overall image clarity. These
technologies are increasingly being integrated into high-end television models
offered by leading brands, catering to consumers' demands for superior visual
performance and advanced display technologies.
Expansion
of Content and Streaming Services
The expansion of digital content and
streaming services has transformed the television landscape in India. OTT
(over-the-top) platforms such as Netflix, Amazon Prime Video, Disney+ Hotstar,
and others have witnessed rapid growth, offering a diverse range of content
including original series, movies, documentaries, and live sports.
This trend has fueled the demand for
smart TVs capable of seamlessly accessing and streaming content from multiple
platforms. Manufacturers and content providers are forging partnerships and
licensing agreements to deliver exclusive content to smart TV users, enhancing
the appeal of these devices among tech-savvy consumers.
Emphasis
on Energy Efficiency and Sustainability
Energy efficiency and sustainability
have emerged as important considerations in the Indian television market. With
increasing awareness about environmental impact and energy consumption,
consumers are prioritizing energy-efficient models that comply with
international standards such as Energy Star ratings.
Manufacturers are responding by
developing televisions with advanced power-saving features, LED backlighting
systems, and eco-friendly materials. This trend not only appeals to
environmentally conscious consumers but also aligns with regulatory initiatives
aimed at reducing carbon footprints and promoting sustainable manufacturing
practices.
Segmental Insights
Screen
Size Insights
In the India Television Market, the
50''-59'' screen size segment has emerged as the dominant choice among
consumers. This segment appeals to a wide range of households seeking a balance
between screen size, viewing comfort, and affordability. Consumers are increasingly opting for larger
screen sizes within this range to enjoy an immersive viewing experience for
movies, sports, and gaming. The 50''-59'' category strikes a balance between
providing a cinematic feel while still being practical for most living room
sizes in urban and suburban homes across India.
Manufacturers have responded by offering
a diverse array of models in this segment, incorporating advanced technologies
such as 4K Ultra HD resolution, HDR (high dynamic range), and smart TV
capabilities. These features enhance the viewing experience by delivering
vibrant colors, sharp details, and seamless access to streaming content and
applications. Additionally, competitive pricing strategies and promotional
offers from leading brands and retailers have contributed to the popularity of
the 50''-59'' segment, making it a preferred choice for consumers looking to
upgrade their home entertainment setups without compromising on quality or
budget.
Distribution
Channel Insights
Supermarkets and hypermarkets have
emerged as the dominating distribution segment in the India television market.
These retail formats offer significant advantages such as wide product
selections, competitive pricing, and convenient shopping experiences,
attracting a large number of consumers looking to purchase televisions. One of
the key factors driving growth in supermarkets and hypermarkets is their
ability to showcase a diverse range of television brands and models under a
single roof. This allows consumers to compare features, screen sizes, prices,
and customer reviews before making a purchase decision. The availability of
knowledgeable staff and interactive displays further enhances the shopping
experience, helping consumers make informed choices based on their specific
preferences and requirements.
Moreover, supermarkets and hypermarkets
often run promotional campaigns, discounts, and bundled offers on televisions,
attracting price-sensitive consumers seeking value for money. These retail
formats also benefit from their strategic locations in urban and semi-urban
areas, catering to a wide demographic of consumers who prefer the convenience
of one-stop shopping for electronics. As consumer preferences evolve and demand
for televisions continues to grow, supermarkets and hypermarkets are poised to
play a pivotal role in shaping the distribution landscape of the Indian
television market, offering both accessibility and competitive pricing to meet
the diverse needs of consumers across the country.
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Regional Insights
In the India Television Market, the
North region has emerged as the dominant and fastest-growing segment.
Comprising states such as Delhi, Uttar Pradesh, Rajasthan, Haryana, Punjab, and
others, the North region showcases robust growth in television sales driven by
several factors.
One of the primary reasons for the
dominance of the North region is its high population density and urbanization
rate. Metropolitan cities like Delhi and NCR (National Capital Region) have a
large concentration of affluent consumers with disposable incomes, who exhibit
a strong inclination towards purchasing consumer electronics, including
televisions. The presence of a burgeoning middle class also contributes
significantly to the demand for televisions in urban and semi-urban areas
across the region. Furthermore, the North region benefits from extensive retail
infrastructure, including modern retail chains, electronics stores, and
hypermarkets, which cater to the diverse preferences of consumers. These retail
outlets offer a wide range of television brands, sizes, and features, coupled
with competitive pricing and promotional offers, which attract consumers
seeking value and quality.
Additionally, the North region
experiences a high demand for smart TVs and advanced technologies due to
increasing digital literacy and connectivity. Consumers in urban centers are
keen on accessing streaming services, online content, and interactive features
offered by smart televisions, further driving the growth of this segment in the
North Indian market. Overall, the North region's dominance in the India
Television Market is underscored by its economic vibrancy, consumer preferences
for premium home entertainment experiences, and robust retail infrastructure,
making it a pivotal growth driver in the national television industry.
Recent Developments
In 2024, LG, a South Korean technology
company, anticipates a 25-30% growth this year in response to the trend of
premiumization in India's TV market. Consumers in India are increasingly
interested in advanced technologies and larger screen sizes. To capitalize on
this demand and solidify its leading position in the Indian market, LG has
introduced a new lineup of AI-powered smart TVs. This Next Generation of AI TVs
includes 55 newly launched models, offering sizes ranging from 43 inches to 97
inches.
In 2024, Samsung, has unveiled a new
generation of AI TVs with the launch of its ultra-premium Neo QLED 4K, Neo QLED
8K, and OLED TVs at the ‘Unbox & Discover’ event in Bengaluru. The 2024
lineup of TVs enhances home entertainment by integrating powerful AI-driven
solutions. Samsung is leveraging Artificial Intelligence (AI) to enhance
consumers’ lifestyles across various product categories. By integrating AI into
home entertainment, we aim to deliver exceptional viewing experiences for our
customers.
Key Market Players
- Samsung India Electronics Pvt Ltd.
- LG Electronics India Private Limited
- Xiaomi Technology India Private Limited
- Oneplus Technology India Private Limited
- Sony India Private Limited
- Hisense India Private Limited
- TCL-India Holdings Private Limited
- Intex Technologies (India) Limited
- Panasonic Life Solutions India Private
Limited
- Haier Appliances India Pvt Ltd
|
By Screen Size
|
By Display Type
|
By Distribution
Channel
|
By Region
|
- 39'' and Below
- 40''-49''
- 50''-59''
- Above 59''
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|
- Multi-Branded Stores
- Supermarkets & Hypermarkets
- Online
- Exclusive Stores
- Others
|
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Report Scope:
In this report, the India Television Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- India Television Market, By Screen
Size:
o 39'' and Below
o 40''-49''
o 50''-59''
o Above 59''
- India Television Market, By Display
Type:
o LED
o OLED
o Others
- India Television Market, By Distribution
Channel:
o Multi-Branded Stores
o Supermarkets & Hypermarkets
o Online
o Exclusive Stores
o Others
- India Television Market, By
Region:
o North
o South
o East
o West
Competitive Landscape
Company Profiles: Detailed analysis of the major companies presents
in the India Television Market.
Available Customizations:
India Television Market report with the given
market data, Tech Sci Research offers customizations according to a company's
specific needs. The following customization options are available for the
report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
India Television
Market is an upcoming report to be released soon. If you wish an early delivery
of this report or want to confirm the date of release, please contact us at [email protected]