India Smart TV Market: Future Projections and Emerging Trends (2024-2030)

India's 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 a staggering growth trajectory, as it was revealed today that the market size reached a whopping USD 11.53 Billion in 2023. The forecast predicts an impressive Compound Annual Growth Rate (CAGR) of 16.57%, propelling the market revenue to nearly USD 33.72 Billion by 2030.

Transforming Entertainment Landscape

The evolution of traditional television into the Smart TV era has revolutionized entertainment in India. These intelligent devices, operating on the Android system, offer a plethora of features, including seamless access to popular OTT platforms, social media apps, and voice command functionalities. Acting as comprehensive entertainment hubs, Smart TVs have become an integral part of smart homes and offices, further fueling the market growth.

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Smart TV Market in India Report Scope and Research Methodology:

The research provides Smart TV Market in India insights to industry stakeholders, explaining complex statistics in simple terms, and covering the industry's history, current status, and expected size and trends. The report analyses all industry segments, with a focus on key companies, including market leaders, followers, and new entrants. Each region receives a detailed PESTLE analysis. The report serves as an investor's guide, offering a comprehensive view of the competitive landscape of key companies in the Smart TV Market in India, covering goods and services, revenue, financial status, portfolio, growth strategies, and geographical presence.

Smart TV Market in India 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 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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Smart TV Market in India Key Players are:

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)

Key questions answered in Smart TV Market in India are:

What is Erucamide?
What are the recent industry trends that can be implemented to generate additional revenue streams for Smart TV Market in India?
Which factors are the lucrative opportunities for the Smart TV Market in India growth?
Which factors are limiting the scope of Smart TV Market in India?
How is the intervention from regulatory authority is shaping the Smart TV Market in India?
What growth strategies are the key players considering to increase their presence in Smart TV Market in India?

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Key Offerings:

Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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