The rising television ownership in the country, growing demand for larger screen televisions and smart televisions, and rising popularity of OTT platforms are driving the India television market.
According to TechSci Research report, “India Television Market”- By Region, Competition Forecast and Opportunities, 2018-2028F”, The India television market is witnessing high growth owing to the rising popularity of OTT platform. Moreover, the rising demand for smart television is further accelerating the growth of television market in India.
The growth of nuclear families, technological advancements, an increase in many television channels, online shows, and other forms of modern entertainment have all contributed to the demand for television. Rural electrification has also increased demand for more, from those regions.
In an effort to build their position in this fast-growing market, a number of regional businesses have also turned their focus there. Due to numerous big competitors turning their focus to Ultra High Definition (UHD) displays and marketing them in their most recent products, this has led to exceptionally fierce competition in the premium category.
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According to forecasts, the 4K resolution and a shift toward OLED and QLED screens will make up the majority of televisions sold in the upcoming years. As a result, it is now undeniable that televisions are quickly rising to the top of the mainstream product list in India's market for technological items.
The India television market is segmented based on screen size, display type, distribution channel, and region. The market is further segmented into 50'-59', 40'-49', 39' and below, and above 59', based on screen size. The display type is further fragmented into LED, OLED, and others (LCD, QLED, etc.). The distribution channel is further segmented into multi-branded stores, supermarkets/hypermarkets, online, and others including institutional sales, exclusive stores, etc. Based on region, the market is divided into North, South, East, and West.
Major operating companies operating in the India television market are:
- 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 Private Limited
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In India, the television market has been dominated by the 40"-49" inches sector. Customers are being drawn to buy TVs with huge screen sizes due to the integration of 4K technology with innovative features. Vendors have recently released a wide variety of 4K TVs with various screen sizes to increase their consumer base, which has helped the market grow.
The multi branded store is dominating the television market in India as consumers prefer to buy televisions through multi branded stores due to the availability of products of different brands. Moreover, consumers get to know about different brands in the multi branded stores which helps them to choose according to their needs.
Due to the availability of products from several brands, customers choose to purchase televisions through multi-branded retailers, which are currently dominating the television industry in India. Additionally, people perceive knowledge about many brands at multi-brand stores, which aids them in making decisions that suit their needs.
Due to the rising competitiveness in the television market in India, many brands are focusing on launching technologically upgraded products to grab large consumer base and increase their market share. For instance, Samsung has introduced the Frame lifestyle television in India after introducing new smart TV series, including, Sero, a Micro LED TV, and Neo QLED TV. The smart television from Frame has a QLED display. Additionally, smart televisions have a motion sensor that automatically activates the display when people enter the room and shuts it off when they leave. Furthermore, smart TVs have a brightness sensor that changes the brightness, color tone, and ambient light automatically. The EyeComfort Mode on the Frame, according to the manufacturer, can automatically change brightness through a built-in light sensor for sunset/sunrise information.
“The market for television in India is being driven by the increased popularity of OTT services that include localized content and the strong desire for smart television. Additionally, the growing number of nuclear families in the country and the increasing desire for larger television screens for accessing OTT platforms are both contributing to the expansion of the Indian television market”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
India Television Market, By Screen Size (50'-59', 40'-49', 39' and Below, Above 59'), By Display Type (LED, OLED, Others (LCD, QLED, etc.)), By Distribution Channel (Multi Branded Stores, Supermarkets/Hypermarkets, Online, and Others (Institutional Sales, Exclusive Stores, etc.) By Region, Competition, Forecast & Opportunities, 2018-2028F, has evaluated the future growth potential of India television market and provides statistics & information on market size, structure, and future market growth. The report intends 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 in the television market in India.