India Smart TV Market Set to Skyrocket, Projected to Reach USD 33.72 Billion by 2030

In a technological leap, the India Smart TV Market is poised for exponential growth, with a projected revenue surge from USD 11.53 Billion in 2023 to an estimated USD 33.72 Billion by 2030. The market is expected to witness a remarkable Compound Annual Growth Rate (CAGR) of 16.57% during the period from 2024 to 2030.

India Smart TV Market Overview:

The India Smart TV market report amalgamates both primary and secondary research approaches. Within it lies a comprehensive examination of both global and regional market dimensions. The report's profound scrutiny of India Smart TV market dynamics and its provision of regional insights collectively establish it as an invaluable resource for potential investors.

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India Smart TV Market Report Scope and Research Methodology:

The report's aim is to uncover opportunities, constraints, challenges, and drivers within the global India Smart TV market. To compile the India Smart TV market report, a combination of primary and secondary research methods was employed, ensuring data accuracy and validity. The Stellar Market Research Analyst conducted primary research surveys with identified India Smart TV companies, also inquiring about their competitors during interviews. Additionally, through secondary research, the analyst compiled a list of companies in the industry and conducted a thorough examination of macroeconomic and microeconomic factors that have shaped the India Smart TV industry landscape.

The India Smart TV market report encompasses a comprehensive range of analyses. It includes a SWOT analysis, PESTLE analysis, and Porter's Five Forces analysis, offering valuable insights into the strengths and weaknesses of both key players and markets, providing a deep understanding of these entities.

India Smart TV Market Segmentation:

by Resolution

HDTV
FULL HD TV
4K UHD TV
8K UHD
Others

Over the course of the forecast period, the India Smart TV Market is anticipated to experience a notable increase in revenue share, with the HDTV resolution segment accounting for approximately 45% of the market. With a 35% market share, 4K UHD TV is the second most popular category. Thanks to cost-effectiveness and technological advancements, Indian consumers can now purchase 4K HD TVs. Major companies like Samsung Electronics Co. and Sony Corporation have embraced quantum dot and nanotechnology to improve the picture quality of their products. In the Indian smart TV market, these factors are driving the segment's growth.

by Screen Type

Flat
Curved
Others

The flat screen segment dominated the market in 2023 and is predicted to grow at a compound annual growth rate (CAGR) of roughly 17.0% in the India smart TV market over the forecast period. The growth is primarily driven by consumers' preference for flat-screen TVs over more costly alternatives. Installing these TVs on walls is also less complicated. The introduction of compact, entry-level smart TV models with flat screens and the elimination of import taxes on LCD panels have also contributed to the growth of the Indian smart TV market.

by Screen Size

Below 32 Inches
32 To 45 Inches
46 To 55 Inches
56 To 65 Inches
Above 65 Inches

In terms of screen size, the market leader in 2023 was the 32–45 inch segment, which held a share of over 36%. The medium-screen TV market is expanding due to the growing popularity of the Smart TV market in India, and models are starting to come equipped with 4K technology. Companies in the Indian smart TV market are also releasing smart TVs at low prices that have screens that range from 32 to 45 inches or smaller than 32 inches in order to appeal to the middle-class and lower-class populations. In 2023, the 46 to 55-inch screen size segments will account for 41% of the India Smart TV market. Customers are purchasing TVs with bigger screens because 4K technology is being quickly integrated with attractive features at reduced costs.

by Distribution Channel

Hypermarket
Online
wholesaler
Speciality Store
Others

During the forecast period, there will be a notable increase in the offline segment's share of the India Smart TV Market share by Distribution Channel. In the offline India Smart TV Market segment, smart TVs are sold by supermarkets, hypermarkets, and specialty stores. In this industry, offline distribution channels still make up the bulk of channels. The offline market segment was estimated to be worth billions of dollars, and growth was predicted to continue through 2023. The vendors of the India Smart TV market also sell their products through a number of renowned offline retailers, such as Kohinoor, Reliance, Vijay Sales, and Croma.

by Technology Of Screen

QLED
OLED
Nano-cell
HDR
Others

TV screens are crucial for excellent picture quality due to screen technology. LED technology has advanced to the point where Micro-LED displays are appealing to consumers due to their large screens and excellent quality. Advantages of this display include better contrast, faster response times, and energy efficiency. The next screen in the list add in the Indian smart TV market is called Nano Cell. In Nano Cell technology, nanoparticles are used at individual pixels. By absorbing unwanted light, they enhance the primary red, green, and blue colours on the screen. This will result in natural colours and sharper images from any viewing angle. It will also bring out deeper hues, crisper tones, and a wider colour palette.

by Prize Range

Under US$ 500
US$ 500 - US$ 1000
US$ 1000 - US$ 2000
US$ 2000 - US$ 3000
US$ 3000 & Above

by Application

Residential
Commercial
Restaurants & Cafeterias
Corporate Offices
Others

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India Smart TV Market Key Players:

  1. Samsung Electronics (Gurgaon Sector 43, Gurgaon, Delhi.)
    2. LG Electronics (Greater Noida, Greater Noida, Delhi.)
    3. Sony (Malad West, Mumbai )
    4. Skyworth ( Sector 19, Gurugram, Haryana )
    5. Foxconn (Sharp) (Sector 125, Noida, Uttar Pradesh )
    6. Xiaomi (India)( Devarabisanahalli, Bengaluru)
    7. Vizio (Noida, (Uttar Pradesh, India)
    8. Haier (Ranjangaon, Pune, )
    9. Panasonic (Gurugram, Haryana,)
    10. Chonghong(Mumbai, India )
    11. Konka (New Delhi.)
    12. Videocon Industries Ltd. (Mumbai)
    13. Sansui Electric Co. Ltd. (Pune, Maharashtra, India.)
    14. Toshiba Corporation(Manali New Town)
    15. Intex Technologies(Okhla Industrial Area Phase 2, Delhi )
    16. Micromax Informatics Ltd.( Gurugram, Haryana,)
    17. TCL India. (Sion, India)
    18. Philips India Ltd.(Dlf Cyber City, Gurgaon, Delhi)
    19. Croma(Mumbai, India)

India Smart TV Market Regional Analysis:

The regional analysis in the report helps to understand the India Smart TV market in various countries by providing different factors such as political, geographic, buying behavior, etc. which are affecting the India Smart TV market. Various regions, and countries have legal barriers, geographic advantages, distinct buying behavior, etc are provided in the report help to develop market strategies that are suitable and appropriately applicable according to specific countries and regions. The report includes a detailed explanation of all the factors, market size, growth rate, and import and export all the regions.

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Key Questions answered in the India Smart TV Market Report are:

  • What was the India Smart TV Market size?
  • What will be the CAGR of the India Smart TV market during the forecast period?
  • Which region held the largest India Smart TV market share?
  • What are the opportunities for the India Smart TV Market?
  • What factors are hampering the India Smart TV market growth?
  • Which company held the largest share in the India Smart TV market?
  • What key trends are likely to emerge in the India Smart TV market in the coming years?
  • What growth strategies are the players considering to increase their presence in the India Smart TV Market?

Key offerings:

  • Market Share, Size, and Forecast by Revenue
  • Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
  • Market Segmentation- A detailed analysis of each segment and their segments
  • Competitive Landscape - Leading key players and other prominent key players.

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