Report Ocean introduces a fresh report examining the ‘India Television Market’, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Obtain a comprehensive report on the India Television Market, which includes a full table of contents, over 100 tables and figures, and charts. The report provides precise information on the market before and after the COVID-19 outbreak, segmented by region.
In 2020, the flat-panel television market in India was valued at INR 986.4 billion, and it is projected to reach INR 1,638.65 billion by 2027, growing at a CAGR of 8.54%.
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India’s television market is rapidly emerging as one of the fastest-growing segments among consumer durable goods. With a staggering 210 million TV households in 2020, the flat-panel television market is experiencing robust growth. Several key factors are driving this expansion, including the decreasing prices of large-screen TVs, improved affordability for consumers, lower content subscription charges, and the increasing availability of innovative products in the market.
Market Insights:
Smart TVs dominate the market, with an 84% share of overall TV shipments in 2021. Smart TVs with screen sizes over 40 inches represent 42% of the market, while 32-inch displays are the most preferred among customers in 2021.
Price Reduction and Innovation:
The reduction in the prices of large-screen TVs has made them more accessible to a wider range of consumers. Coupled with innovative technologies, TV makers have been able to enhance the quality of LED, LCD, HD, and UHD TVs, offering detailed, sharper, colorful, and high-resolution features.
Smart TVs:
Demand for smart TVs has surged, with consumers increasingly favoring them over non-smart TVs. This shift is driven by the availability of new technologies and features that enhance the viewing experience.
Challenges and Hindrances:
Despite the growth, the market faces challenges such as competition from substitute devices, reduced profitability, a lack of 4K content, and high GST rates on smart TVs.
Atmanirbhar Bharat Initiative:
The Indian government’s Atmanirbhar Bharat initiative has prompted established industry players to demand zero import duties on open cell panels, a critical component of flat-panel TVs. This initiative has further boosted television production in India.
Segmentation:
The Indian television market is segmented into smart and non-smart TVs. In 2021, smart TVs account for 80% of the market, while non-smart TVs make up the remaining 20%. Among smart TVs, there are four segments based on screen size: less than 32 inches, 32-43 inches, 43-55 inches, and 55 inches and above. Smart TVs with screen sizes less than 32 inches hold the largest market share at 39.40%.
COVID-19 Impact:
The COVID-19 pandemic has significantly influenced consumer behavior in India. With the rise of work-from-home culture and online classes, smart TVs have become essential tools for both work and education. Additionally, the closure of cinema halls has led consumers to shift to smart TVs for entertainment, streaming content, video conferencing, and online classes.
Reasons to Consider Purchasing the India Television Market Report:
Comprehensive Market Insights: Delve into the depths of the India Television Market Report to gain an all-encompassing and meticulous analysis of the market landscape. Uncover details such as market size, share, trends, and growth catalysts, which provide invaluable perspectives on both the present market scenario and its promising future prospects.
Reliable Projections: Rely on the report’s dependable forecasts and projections, which are underpinned by rigorous research methodologies, insights into industry expenditures, and assessments of market expansion rates. These foresights empower businesses to make well-informed decisions and chart out effective strategies for the times ahead.
In-depth Competition Analysis: Equip yourself with an extensive evaluation of key market players, their array of products, and the strategies they employ. This comprehensive understanding arms businesses with the knowledge needed to not only comprehend their rivals but also to craft strategies that position them ahead in the dynamic market arena.
Clear Market Scope and Segmentation: Gain clarity on the broad expanse of the market through the report’s clear delineation of market scope. With detailed insights into diverse market segments and their growth potential, businesses can discern and capitalize on opportunities that align with their objectives.
Insightful Regional Examination: Assess the market’s performance across different regions, enabling enterprises to pinpoint lucrative markets and tailor their approaches accordingly. With region-specific insights, businesses can adapt strategies that resonate with the unique dynamics of each area.
Evaluation of Industry Technology: Grasp the pulse of technological progress within the India Television market. The report dissects cutting-edge advancements and trends, providing businesses with a window into emerging technologies that have the potential to reshape the industry.
Dynamics of Supply and Demand: Acquire a profound comprehension of supply-demand dynamics. This understanding empowers businesses to optimize production, distribution, and inventory management processes, resulting in enhanced operational efficiency.
Informed Investment Decision Making: Leverage the report’s critical information and data-driven insights to facilitate informed investment choices within the India Television market. Equipped with this knowledge, businesses can confidently allocate resources to avenues with the greatest potential for returns.
Unveiling Long-Term Growth Avenues: Through the scrutiny of trends and growth stimulants, the report illuminates the enduring opportunities the India Television market holds. By identifying these sustainable growth prospects, businesses are poised to set a course for lasting success.
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