India Smart TV Market Growth & Trends
The India smart TV market size is expected to reach USD 4.93 billion by 2028, registering a CAGR of 16.8% from 2021 to 2028, according to a new report by Grand View Research, Inc. The increasing disposable income and rising popularity of OTT VOD platforms, such as Netflix, Amazon Prime Video, SonyLIV, and Disney+Hotstar, have been significant factors driving the demand for smart TVs in the country. The availability of supporting content for these devices, such as HD videos and games, has further boosted the demand for smart TVs in India.
TV brands are partnering with e-commerce websites to launch their products to extend their reach countrywide. In June 2020, Flipkart partnered with Nokia to develop, manufacture, and distribute Nokia Smart TVs. As a result, Flipkart launched Nokia-branded smart TV. The TV runs on Android 9 Pie software and has a dedicated Google Play Store to download and install games and applications. In July 2020, Shinco, an Indian TV brand, launched a 43-inch 4K HDR LED Smart TV named S43UQLS. It is the most affordable 4K TV, as most 43-inch TVs are available in full-HD LED displays.
The industry witnessed a drop in sales in 2020 as the country announced lockdowns to reduce the spread of COVID-19. However, a surge in sales of smart TVs was observed in the first quarter of 2021 owing to the relaxations in lockdown.
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India Smart TV Market Report Highlights
- In terms of resolution, the HDTV segment dominated the market in 2020. High competition exists between companies to create innovative "HDTV" and add the latest technological systems. Furthermore, filmmakers are using HD camcorders and cameras for better resolution of films. This trend is boosting the demand for HDTVs in the market
- In terms of screen size, the above 65 inches segment is expected to expand at the highest CAGR over the forecast period. Consumers are preferring larger screens in their living room owing to the increase in screen time and growth of OTT services
- In terms of screen shape, the flat screen segment dominated the market and is expected to retain its dominance over the forecast period. Consumers prefer flat-screen TVs as they are easier to mount on the wall
Access Press Release@ https://www.grandviewresearch.com/press-release/india-smart-tv-market-analysis
India Smart TV Market Segmentation
Grand View Research has segmented the India smart TV market based on resolution, screen size, and screen shape:
India Smart TV Resolution Outlook (Volume in Million Units; Revenue, USD Million, 2016 - 2028)
- 4K UHD TV
- HDTV
- Full HD TV
- 8K TV
India Smart TV Screen Size Type Outlook (Volume in Million Units; Revenue, USD Million, 2016 - 2028)
- Below 32 inches
- 32 to 45 inches
- 46 to 55 inches
- 56 to 65 inches
- Above 65 inches
India Smart TV Screen shape Outlook (Volume in Million Units; Revenue, USD Million, 2016 - 2028)
- Flat
- Curved
List of Key Players in the India Smart TV Market
- Panasonic Corporation
- Samsung India Electronics Pvt. Ltd.
- LG Electronics India Pvt. Ltd.
- Sony India Pvt. Ltd.
- Xiaomi Inc.
- Koninklijke Philips N.V
- Vu Technologies Pvt. Ltd.
- Intex Technologies
- Micromax Informatics Ltd.
- TCL India
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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