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

𝐈𝐧𝐝𝐢𝐚 𝐒𝐦𝐚𝐫𝐭 𝐓𝐕 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐫 𝐃𝐞𝐦𝐚𝐧𝐝 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐨𝐫 𝐃𝐞𝐜𝐫𝐞𝐚𝐬𝐞 𝐟𝐨𝐫 𝐰𝐡𝐚𝐭 𝐜𝐨𝐧𝐭𝐚𝐢𝐧𝐬

𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐚𝐧𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

𝐒𝐞𝐯𝐞𝐫𝐚𝐥 𝐟𝐚𝐜𝐭𝐨𝐫𝐬 𝐜𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐞 𝐭𝐨 𝐭𝐡𝐞 𝐫𝐨𝐛𝐮𝐬𝐭 𝐠𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐈𝐧𝐝𝐢𝐚 𝐒𝐦𝐚𝐫𝐭 𝐓𝐕 𝐦𝐚𝐫𝐤𝐞𝐭:

Rising OTT Popularity: The increasing interest in over-the-top (OTT) services is a major driver. Pre-loaded apps and in-built functions on Smart TVs cater to the growing demand for streaming content, boosting sales.

Financial Freedom and Internet Usage: Rising levels of financial freedom and improving internet penetration across the country are pivotal in driving market growth. Smart TVs with 8GB of internal storage have seen a surge in popularity, with millions of units shipped to India in the past year.

Affordable Smart TVs: The affordability of Smart TVs has made them a preferred choice over older, non-smart TVs. Entry-level Smart TVs are now available for less than $200 USD, increasing their penetration in semi-urban and rural regions.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧𝐬

In 2023, the top five Smart TV brands occupied nearly half of the Indian market, with over 95% of televisions sold being manufactured domestically. Xiaomi led the market with an 11% share, followed by LG and Samsung. The market share of shipments in the INR 20,000-INR 30,000 price range increased by 40% year over year to 29%.

Xiaomi: With a 14% market share, Xiaomi's dominance is attributed to its focus on affordable options like the Redmi and 5A series. It leads the HD and FHD segments with a 23% share.

Samsung: Holding a 13% share, Samsung dominates the high-end QLED TV market. Its T4000 series, priced lower, is also popular.

LG: With a 10% market share, LG is gaining traction with its Nano cell and OLED TVs.

Other brands like OnePlus, Vu, and TCL are also experiencing rapid growth, offering budget-friendly options and innovative features. However, domestic brands struggle due to poorly

executed business plans and intense competition from international players.

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐚𝐧𝐝 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐏𝐫𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬

The push for advanced features and exclusive applications sets Smart TVs apart from conventional models. Major players are developing proprietary operating systems to establish a unique edge in the market. The Android TV operating system, with its extensive app availability and integration with Google technologies, continues to lead the segment.

Smart TVs come equipped with multiple ports, including Ethernet, USB, and HDMI, allowing users to connect a range of devices. This versatility has contributed to their widespread popularity.

𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐚𝐧𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬

𝐃𝐞𝐬𝐩𝐢𝐭𝐞 𝐭𝐡𝐞 𝐩𝐫𝐨𝐦𝐢𝐬𝐢𝐧𝐠 𝐠𝐫𝐨𝐰𝐭𝐡, 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐟𝐚𝐜𝐞𝐬 𝐜𝐞𝐫𝐭𝐚𝐢𝐧 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬:

Taxes on Smart TVs: Taxes act as a market restraint, increasing costs for consumers and manufacturers. This can deter potential buyers and reduce the competitiveness of Indian TV makers.

Market Dynamics: The affordability of HDTVs, combined with the rising demand for high-resolution TVs, drives market growth. However, the higher costs of advanced models like 8K TVs may limit their widespread adoption.

𝐈𝐧𝐝𝐢𝐚 𝐒𝐦𝐚𝐫𝐭 𝐓𝐕 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐑𝐚𝐭𝐞 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭:

The India Smart TV market, valued at USD 11.53 billion in 2023, is expected to experience explosive growth. Projections indicate a compound annual growth rate (CAGR) of 16.57%, with the market reaching nearly USD 33.72 billion by 2030.

𝐆𝐫𝐚𝐛 𝐘𝐨𝐮𝐫 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.maximizemarketresearch.com/request-sample/22314/
𝐈𝐧𝐝𝐢𝐚 𝐒𝐦𝐚𝐫𝐭 𝐓𝐕 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

𝐀 𝐍𝐞𝐰 𝐄𝐫𝐚 𝐨𝐟 𝐄𝐧𝐭𝐞𝐫𝐭𝐚𝐢𝐧𝐦𝐞𝐧𝐭

India, the second-largest television market in the Asia-Pacific region, is witnessing a significant transformation as traditional televisions evolve into smart, internet-connected devices. These Smart TVs offer a plethora of features, including access to streaming services, on-demand content, and social media apps. Operating on the Android system, they allow users to enjoy platforms like Hulu, Netflix, YouTube, and social media apps through Google Play. Voice commands further enhance the user experience, turning Smart TVs into comprehensive entertainment and connectivity hubs.

𝐈𝐧𝐝𝐢𝐚 𝐒𝐦𝐚𝐫𝐭 𝐓𝐕 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

♦ 𝐛𝐲 𝐑𝐞𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧

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

Over the course of the projection period, the India Smart TV Market is anticipated to have a notable increase in revenue share, with the HDTV resolution segment accounting for over 45% of the market. With a 35% market share, 4K UHD TV is the second most popular category. Thanks to cost-effectiveness and technological developments, Indian consumers may 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 goods. In the Indian smart TV market, several 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 increase at a compound annual growth rate (CAGR) of roughly 17.0% in the India smart TV market over the forecast period. The surge is mostly driven by consumers' desire for flat-screen TVs over more costly options. Installing these TVs on walls is also less complicated. The introduction of compact, entry-level smart TV models with flat displays 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 sector, which held a share of almost 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 affordable 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 people. 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 projection 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 category, 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 until 2023. The vendors in the India Smart TV market also sell their products through a variety of renowned offline stores, such as Kohinoor, Reliance, Vijay Sales, and Croma.

♦ 𝐛𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐎𝐟 𝐒𝐜𝐫𝐞𝐞𝐧

QLED
OLED
Nano-cell
HDR
Others

♦ 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

promotions for nearby attractions, The hotel's, cafes', and restaurants' entertainment technology ought to be on level with, if not superior to, that of the visitors' homes. They seem to love having high-definition audio and images in their in-room experiences, and a few of the leading Indian smart TV businesses are introducing their TV models to make their products more recognizable to consumers.

𝐓𝐨 𝐚𝐜𝐜𝐞𝐬𝐬 𝐦𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐫𝐞𝐠𝐚𝐫𝐝𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐯𝐢𝐬𝐢𝐭 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐰𝐞𝐛𝐩𝐚𝐠𝐞: https://www.maximizemarketresearch.com/request-sample/22314/
𝐈𝐧𝐝𝐢𝐚 𝐒𝐦𝐚𝐫𝐭 𝐓𝐕 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐜𝐨𝐩𝐞 𝐚𝐧𝐝 𝐌𝐞𝐭𝐡𝐨𝐝𝐨𝐥𝐨𝐠𝐲:

A wealth of information on significant subjects, including those that are expected to support the industry's growth and upcoming issues, is included in the market research report India Smart TV. The industry's competitive landscape, investment potential in the India Smart TV market, and items promoted by well-known brands will all be thoroughly understood by stakeholders. The sector's quantitative and qualitative elements are examined in the study. A detailed examination of the competition for the India Smart TV Market is one of the things the MMR probe looks into.

The analysis includes a detailed list of needs along with a full justification for each. Numerous primary and secondary information sources, such as official government documents, websites, annual reports, and expert and professional sources, were considered when developing the India Smart TV Market.

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)

𝐔𝐧𝐜𝐨𝐯𝐞𝐫 𝐈𝐧-𝐃𝐞𝐩𝐭𝐡 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬: https://www.maximizemarketresearch.com/market-report/india-smart-tv-market/22314/
𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭𝐬: 𝐈𝐧𝐝𝐢𝐚 𝐒𝐦𝐚𝐫𝐭 𝐓𝐕 𝐌𝐚𝐫𝐤𝐞𝐭

Section 01: Overview
Section 02: Report Scope for the India Smart TV Market
Section 03: Landscape of the India Smart TV Market
Section 04: Size of the India Smart TV Market
Section 05: Types of India Smart TV Market Segmentation
Section 06: Analysis of Competitive Forces
Section 07: Profile of Customers
Section 08: Geographic Analysis
Section 09: Decision-Making Framework
Section 10: Factors Driving and Hindering Growth
Section 11: Current Market Developments
Section 12: Assessment of Market Participants
Section 13: Detailed Analysis of Vendors

𝐊𝐞𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐬𝐰𝐞𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐈𝐧𝐝𝐢𝐚 𝐒𝐦𝐚𝐫𝐭 𝐓𝐕 𝐌𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:

What is India Smart TV?
What is the growth rate of the India Smart TV Market?
Which are the factors expected to drive the India Smart TV market growth?
What is the CAGR at which the India Smart TV market will grow during the forecast period?
What are the different segments of the India Smart TV Market?
Which is the fastest growing region in the India Smart TVmarket?
What growth strategies are the players considering to increase their presence in India Smart TV?
What are the upcoming opportunities and trends for the India Smart TV Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the India Smart TV Market?
Who are the leading companies and what are their portfolios in India Smart TV Market?
What segments are covered in the India Smart TV Market?
Who are the key players in the India Smart TV market?
𝐊𝐞𝐲 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2024-2030
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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𝐎𝐮𝐫 𝐀𝐝𝐝𝐫𝐞𝐬𝐬:

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𝐀𝐛𝐨𝐮𝐭 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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