India Smart TV Market to Reach USD 33.72 Billion by 2030, Boosted by Rising Internet Penetration and Affordable Smart Devices

The India Smart TV Market size was valued at USD 11.53 Billion in 2023 and the India Smart TV revenue is expected to grow at a CAGR of 16.57 % from 2024 to 2030, reaching nearly USD 33.72 Billion by 2030.

India Smart TV Market Overview

The Indian Smart TV Market has evolved rapidly from conventional television to an advanced, connected ecosystem that integrates entertainment, communication, and smart home functionalities. As one of the largest television markets in the Asia-Pacific region, India is witnessing a strong transition toward smart, internet-enabled devices. Smart TVs now serve as comprehensive multimedia hubs, offering access to OTT platforms like Netflix, Amazon Prime, and Disney+ Hotstar, as well as social media and gaming apps. The adoption of Android-based operating systems has enhanced usability, offering seamless voice commands and integration with other smart devices. Declining average selling prices, rising disposable incomes, increasing internet penetration, and government initiatives supporting domestic manufacturing (such as "Make in India") have further accelerated market expansion. The surge in demand for affordable 32-45-inch models, coupled with the growing popularity of 4K and OLED TVs, is shaping India's evolving smart TV landscape.

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India Smart TV Market Dynamics

Drivers:

The primary driver for the India Smart TV Market is the growing consumer preference for personalized and on-demand entertainment. As high-speed internet becomes more accessible, the demand for OTT streaming content continues to rise, reducing dependency on traditional cable and DTH services. Rising disposable incomes, increasing digital literacy, and a growing middle class have contributed to the mass adoption of Smart TVs. Furthermore, technological innovations such as voice assistance, AI-driven content recommendations, and integrated home automation are propelling product differentiation.

Restraints:

However, the market faces challenges such as high taxation on imports and smart electronics, which elevate product costs and limit affordability for lower-income groups. Intense competition among domestic and international brands has led to margin pressures, while smaller manufacturers struggle with supply chain inefficiencies and limited distribution networks.

Opportunities:

The continued expansion of semi-urban and rural markets presents significant opportunities. Affordable Smart TVs priced under USD 200 and the proliferation of local manufacturing facilities are helping brands capture untapped segments. Moreover, partnerships between OTT platforms and TV manufacturers are enabling seamless content integration, enhancing customer engagement.

India Smart TV Market Outlook and Future Trends

The outlook for the Indian Smart TV Market is highly promising, with expected double-digit growth over the forecast period. Increasing demand for 4K and 8K Ultra HD models, combined with the integration of AI-driven technologies and voice-controlled interfaces, will continue to redefine user experiences. The transition toward large-screen formats (above 55 inches) is gaining traction, supported by easier EMI options and urban lifestyle changes. Additionally, the rollout of 5G and the expansion of fiber-optic broadband networks will further enhance streaming quality, driving Smart TV adoption. Entry-level models with competitive pricing and localized content strategies are likely to dominate the market, while premium brands will focus on innovation through OLED, QLED, and Micro-LED technologies.

Key Recent Developments

Xiaomi maintained its leadership in 2023 with a 14% market share, driven by its Redmi and 5A series, and introduced upgraded PatchWall OS features with IMDB integration and multi-platform content search.

Samsung introduced the world's first 16K QLED TV with a 110-inch display, strengthening its position in the premium segment.

LG launched high-end QNED and OLED models in India, coupled with promotional offers such as free EMIs and product insurance to boost sales.

Sony expanded its premium BRAVIA lineup with the XR 86X95K 4K Mini LED TV featuring advanced backlight technology and enhanced gaming modes.

Emerging brands like OnePlus, Vu, and TCL gained market traction in 2023 by offering feature-rich, affordable models catering to budget-conscious consumers.

Domestic brands such as BPL, Sansui, and Haier collectively captured 40-50% market share by providing discounts and expanding their distribution networks.

The market is expected to maintain its upward trajectory, driven by continuous innovation, competitive pricing, and rising digital content consumption in India.

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India Smart TV Market Segmentation

by Operating System

Android TV
Tizen
WebOS
Others

by Resolution

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

by Technology

QLED
OLED
Nano-cell
HDR
Others

by Screen Type

Flat
Curved

by Screen Size

Below 32 Inches
32 To 45 Inches
46 To 55 Inches
56 To 65 Inches
Above 65 Inches

by Prize Range

Online
Offline

Some of the current players in the India Smart TV Market are:

1. Samsung India Electronics Pvt. Ltd.
2. LG Electronics India Pvt. Ltd.
3. Sony
4. Skyworth
5. Panasonic Corporation
6. TCL India
7. Croma
8. Philips
9. JVC
10. Haier India
11. Intex Technologies
12. Vu Televisions
13. Videocon Industries Ltd.
14. Sansui Electric Co. Ltd.
15. Toshiba Corporation
16. Vu Televisions
17. Xiaomi
18. OnePlus

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