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India Smart TV Market: Rapid Digital Adoption and a Strong 17.5% CAGR Set the Stage for a Connected Future (2025-2035)

12-04-2025 02:56 PM CET | Consumer Goods & Retail

Press release from: Market Research Future (MRFR)

India Smart TV Market

India Smart TV Market

The India Smart TV Market is witnessing unprecedented momentum, driven by rising digital consumption, internet penetration, and the growing shift toward home entertainment ecosystems. With consumers increasingly seeking seamless connectivity, advanced streaming options, and immersive viewing experiences, smart TVs have become a central component of India's modern households. The market, valued at USD 52.76 billion in 2024, is expected to reach USD 61.99 billion in 2025, eventually skyrocketing to USD 311.02 billion by 2035, reflecting a robust 17.5% CAGR during the forecast period.

A major contributor to this surge is the rapid evolution of technologies such as 4K/8K displays, AI-enabled functionalities, voice assistants, and integrated IoT devices. The competitive landscape is intensifying as leading players like Samsung Electronics (KR), LG Electronics (KR), Sony Corporation (JP), Xiaomi (CN), OnePlus (CN), TCL Technology (CN), Vizio (US), Philips (NL), and Micromax (IN) innovate to capture market share. This momentum has positioned the TV Market in India as one of the fastest-growing in APAC, backed by increasing consumption of OTT content.

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The strong growth trajectory is further supported by price competitiveness and enhanced manufacturing capabilities encouraged by India's production-linked incentives (PLI). Brands are focusing on localized production, customized features for Indian audiences, and strategic partnerships with OTT platforms. With historical data from 2019-2024 reflecting consistent expansion, the ongoing demand is expected to accelerate between 2025 and 2035 as more consumers transition from traditional televisions to connected smart displays.

Furthermore, the market's key dynamics revolve around rising consumer demand for smart features, which in turn drives intense competition among manufacturers. Companies are continuously integrating voice control, multi-device synchronization, AI picture enhancement, and gaming-centric functionalities to attract next-gen consumers. This shift marks a new era in the TV Market where innovation becomes the primary differentiator.

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One of the most promising market opportunities lies in the increasing adoption of integrated smart home solutions. As Indian households embrace IoT devices such as smart speakers, security systems, lighting, and HVAC systems, smart TVs are emerging as the central command hub. This ecosystem-driven adoption is expected to propel massive market expansion over the next decade.

Additionally, rising disposable income, growing urbanization, and faster broadband connectivity are creating favorable conditions for premium and mid-range smart TVs. Manufacturers are strategically targeting Tier II and Tier III cities, recognizing their substantial untapped potential as digital infrastructure continues to strengthen across India.

The India Smart TV Market is also shaped by global trends, as consumer preferences evolve in line with North America, Europe, APAC, South America, and MEA. The integration of cloud gaming, advanced picture technologies like OLED and QLED, and personalized content interfaces is further expanding market possibilities.

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Looking ahead, the India Smart TV industry is expected to enter a transformative phase characterized by data-driven content recommendations, multi-screen experiences, and seamless integration with smart devices. The market segmentation and competitive profiling-currently under detailed analysis-will play a crucial role in identifying the fastest-growing categories and strategic investment zones within the sector.

Overall, the India Smart TV Market continues to reshape the future of home entertainment. With strong revenue forecasts, a rapidly expanding consumer base, and aggressive innovation across the value chain, India is set to become one of the world's most influential smart TV landscapes by 2035.

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