India Television Market Research Report 2023 offers a comprehensive analysis of the market, including business opportunities, growth, and trend analysis for various applications, types, and regions such as North America, Europe, Asia-Pacific, South America, Middle East, and Africa. The report delves into important producers, market developments, opportunities, challenges, and threats to the market as a whole. It is a 100+ page report that provides a detailed examination of growth statistics, opportunities, trends and the competitive landscape in the industry.
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The flat panel television (LED, LCD, HD, and UHD) market in India was valued at INR 690.16 Billion in 2018 and is expected to reach INR 1,238.33 Billion by 2024, expanding at a compound annual growth rate (CAGR) of 9.25% during the FY 2019-2024 period.
Television Market in India (LED, LCD, HD, UHD) 2019
Television is one of the fastest-growing consumer durable goods in India, this can be witnessed from the fact that the total number of homes in the country grew only by ~4.5% during 2017-2018 period whereas the television market witnessed ~7.5% growth during the same period. The rapid penetration of television in Indian households can be attributed to reduced cost of production and increased consumer affordability. Over the years, the television industry has adopted fast-evolving technologies to introduce innovations like foldable TV and virtual voice assistant-enabled TV.
Market insights:
The Indian television market comprises of the television sets incorporated with light-emitting diode (LED), liquid crystal display (LCD), high definition (HD), and ultra-high definition (UHD) technologies.
The reduction of import duty on open cell LED TV panels from 5% to 0% has led to the fall the cost of the overall television sets in the country. Moreover, the industry is witnessing a shift in consumer preferences towards flat panel televisions, with a spurt in its demand, from the traditional CRT displays. However, the adoption of substitute devices like laptops and mobile phones, coupled with a fall in profitability is impeding the growth of flat panel television market in India.
Segmentation insights:
The flat panel television market can be segmented into smart TV and non-smart TV. The smart TV segment accounts for a significant share of more than 70% of the overall television market. Foreign players like Xiaomi, OnePlus and Motorola have disrupted the smart TV segment in India with the launch of its range of affordable products. Domestic players are rapidly reducing prices to deal with the fierce competition in the industry. Xiaomi is one of the important players in the smart TV segment with a share of ~29.50%, followed by LG, Samsung and Sony.
In terms of display size, television sets between 32 inches and 43 inches account for the most notable percentage of sales since they are affordable to the masses. Further, as goods and services tax (GST) rates were reduced, prices of television sets went down.
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Competition analysis:
The Indian television market is highly competitive and is dominated by significant players like Samsung, LG and Sony, and they collectively constitute a substantial share of the market. Nevertheless, foreign players like Xiaomi, Realme and OnePlus are flourishing and have captured a considerable share in a short span, owing to their affordable products with a wide variety of features. Moreover, the online sale of television sets has increased considerably in the past few years, posing a threat to conventional sales channels.
Companies covered:
BPL Limited
Intex Technologies (India) Limited
Hitachi India Private Limited
LG Electronics India Private Limited
Panasonic India Private Limited
Philips India Limited
Samsung Electronics India Private Limited
Sony India Private Limited
TCL India
Xiaomi Technology India Private Limited
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Our most recent research report showcases the thriving expansion of the India Television Market and offers in-depth insights into the projected market size, share, and revenue until 2030.
The report addresses the following key questions regarding the India Television market:
- What is the expected growth rate of the market in the upcoming years and what factors are driving this growth?
- How do consumers perceive and adopt different types of India Television in the market?
- How are regulatory policies and government initiatives impacting the growth of the India Television market?
- What is the market share of the top 5 players in the India Television market and how is it likely to change in the future?
- What are the latest technologies and innovations in the India Television market and how are they shaping the industry landscape?
- How do macroeconomic factors such as inflation, GDP, and exchange rates affect the India Television market?
- What are the challenges related to the supply chain and logistics that India Television market players face and how are they addressing them?
- How is the changing consumer behavior and preferences influencing the dynamics of the India Television market?
- What are the potential risks and uncertainties associated with investing in the India Television market, and how can they be mitigated?
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of India Television market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the India Television market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the India Television market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate India Television business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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