India Television Market, By Region, Competition, Forecast and Opportunities, 2020-2030F

The India Television Market was valued at USD 12.18 Billion in 2024, and is expected to reach USD 26.03 Billion by 2030, rising at a CAGR of 13.50%. Television sets, commonly known as TVs, are electronic devices that showcase moving images and sound by receiving broadcast signals via a tuner and projecting them onto a screen. Initially bulky and CRT-based, TVs have evolved significantly with the adoption of LCD technology, becoming slimmer and lighter. The television market is extensive, with TVs being a household essential. It has transitioned from being dominated by CRT to LCD screens, and newer technologies such as OLED are gaining prominence.

According to the International Data Corporation (IDC) Quarterly Smart Home Devices Tracker, India saw shipments of 4.5 million televisions in the first half of 2023, marking an 8% increase compared to the previous year. This growth was driven by frequent sales events by e-commerce platforms, extensive new product launches and model updates by manufacturers, and the clearance of older inventory through various channels ahead of the festive season. The online channel witnessed significant expansion, capturing a 25% increase year-over-year in the first half of 2023, achieving a 39% market share driven by online sales festivals. Although 32-inch and 43-inch screens remain popular, collectively holding a 71% market share, larger screen sizes are gaining traction. The share of 55-inch screens increased to 12% from 9% a year ago in the first half of 2023, contributing to a 35% year-on-year growth in the USD$400+ price segment.

Despite stable sales figures, the market continues to innovate, particularly with advancements in smart TV functionalities and seamless integration with streaming services. According to some studies, the media and entertainment sector, including television, is projected to achieve a market size of USD100 billion by 2030. In India, the media and entertainment industry has surpassed USD27.56 Billion, with television accounting 30%. Despite television maintaining its status as the largest contributor historically, digital media is anticipated to surpass it in the near future. While overall TV viewing time has seen a modest increase of 2%, there has been a slight decline of 1% in affluent audiences' TV consumption. This decrease has been offset by a 4% rise in TV viewing among lower-income audiences.

Key Market Drivers

Rising Disposable Incomes and Urbanization

India's economic growth has led to a substantial increase in disposable incomes among its population. As more households move into the middle and upper-income brackets, there is a greater propensity to spend on consumer electronics, including televisions. Urbanization, with more people living in cities and towns, also plays a crucial role. Urban areas typically have higher television penetration rates due to better infrastructure, higher media consumption, and greater exposure to new technologies.

The increase in disposable incomes and urbanization has propelled the demand for larger screen sizes, higher resolution displays, and advanced features in televisions. Consumers are now more inclined towards purchasing smart TVs that offer internet connectivity, streaming services, and interactive features. This trend is expected to continue as urbanization progresses and consumer aspirations for better viewing experiences grow.

Technological Advancements and Product Innovation

Technological advancements have been pivotal in shaping the television market in India. The transition from traditional CRT (cathode-ray tube) to modern LCD (liquid crystal display) and LED (light-emitting diode) screens has significantly improved picture quality, reduced power consumption, and enabled thinner designs. The introduction of OLED (organic light-emitting diode) and QLED (quantum dot LED) technologies has further enhanced viewing experiences with deeper blacks, brighter colors, and better contrast ratios.

Product innovation has also driven market growth. Manufacturers continually introduce new features such as HDR (high dynamic range), higher refresh rates, and improved sound systems to cater to consumer demands for immersive home entertainment experiences. Smart TVs, equipped with built-in Wi-Fi, app stores, voice control, and compatibility with streaming services like Netflix and Amazon Prime Video, have become increasingly popular among tech-savvy consumers.

Increasing Demand for Content and Entertainment

The demand for diverse and high-quality content has been a significant driver of the television market in India. With the proliferation of digital streaming platforms, OTT (over-the-top) services, and satellite TV providers, consumers have access to a vast array of entertainment options. This includes movies, TV shows, sports events, documentaries, and educational programs.

The COVID-19 pandemic further accelerated this trend as people spent more time at home, leading to increased consumption of digital content on televisions. This shift in viewing habits has underscored the importance of having a quality television with enhanced audio-visual capabilities. As content providers continue to invest in producing original and exclusive content, there is a corresponding demand for televisions that can deliver an immersive and cinematic experience at home.

Government Initiatives and Regulatory Policies

Government initiatives and regulatory policies also influence the television market in India. Programs such as Digital India and Make in India promote domestic manufacturing, thereby boosting the production of televisions within the country. This has led to increased availability of affordable TVs for consumers across different income segments.

Regulatory frameworks, such as the implementation of the Goods and Services Tax (GST), impact pricing and market dynamics. Reductions in import duties on key components used in television manufacturing have encouraged local assembly and production, contributing to lower prices and improved availability of technologically advanced models.

Key Market Challenges

Price Sensitivity and Affordability

Price sensitivity is a significant challenge in the Indian television market, particularly in a country where a large portion of the population belongs to middle and lower-income groups. While the demand for televisions with advanced features like smart capabilities and high-definition displays is increasing, affordability remains a critical factor. Many consumers are constrained by budget limitations, which restrict their ability to purchase higher-end models with the latest technologies.

Manufacturers and retailers are continually pressured to offer competitive pricing while balancing the costs associated with importing components, technological upgrades, and distribution expenses. This challenge is exacerbated by fluctuations in exchange rates, import duties, and regulatory policies that affect the final retail prices of televisions.

Diverse Consumer Preferences and Regional Variances

India is a diverse country with varied consumer preferences and regional differences. Preferences for screen sizes, features, and brands can vary significantly across different states and cities. While urban areas generally exhibit higher demand for larger screen sizes and smart TVs, rural markets may prioritize affordability and basic functionality.

Navigating these diverse preferences requires tailored marketing strategies, localized product offerings, and distribution channels that cater to specific regional requirements. This complexity adds operational challenges for manufacturers and retailers seeking to penetrate and expand their market share across diverse demographic and geographic segments.

Intense Competition and Market Saturation

The television market in India is highly competitive, characterized by the presence of both domestic and international brands offering a wide range of products across various price points. Established players like Samsung, LG, Sony, and Panasonic compete with emerging brands and local manufacturers vying for market dominance.

Intense competition contributes to price wars, reducing profit margins for manufacturers and limiting opportunities for new entrants to gain traction. Market saturation in urban areas, where television penetration rates are relatively high, further intensifies competition as brands strive to differentiate themselves through innovation, product quality, and after-sales service.

Technological Obsolescence and Rapid Advancements

Technological obsolescence poses a challenge for both consumers and manufacturers in the television market. The rapid pace of technological advancements, such as the transition from LCD to OLED screens or the integration of AI-driven smart features, can render older models obsolete within a short span of time.

Consumers often face the dilemma of choosing between investing in new technologies that promise enhanced viewing experiences and sticking with existing models that may become outdated. Manufacturers, on the other hand, must continually innovate and upgrade their product offerings to stay competitive and meet evolving consumer expectations.

Infrastructure and Connectivity Issues

Infrastructure and connectivity challenges in certain parts of India, particularly in rural and remote areas, present obstacles to the adoption of advanced television technologies. Limited access to reliable electricity, internet connectivity, and digital broadcasting services can hinder the uptake of smart TVs and high-definition content.

Addressing these infrastructure gaps requires investments in telecommunications infrastructure, digital broadcasting networks, and initiatives to enhance electricity supply reliability in underserved regions. Improving connectivity and accessibility to digital services are essential for expanding the reach of television manufacturers and ensuring equitable access to modern entertainment technologies across the country.

Key Market Trends

Shift towards Larger Screen Sizes and Higher Resolutions

One of the prominent trends in the Indian television market is the increasing preference for larger screen sizes and higher resolutions. As disposable incomes rise and consumers seek enhanced viewing experiences, there is a growing demand for televisions with bigger screens, such as 55 inches and above. Larger screens provide a more immersive viewing experience, making them ideal for watching high-definition content, sports events, and movies.

Simultaneously, there is a shift towards higher resolution displays, particularly 4K Ultra HD and even 8K resolutions. These technologies offer sharper images, vibrant colors, and better clarity, catering to the discerning preferences of Indian consumers who prioritize visual quality in their home entertainment setups.

Adoption of Smart TVs and Connected Features

Smart TVs have gained significant traction in the Indian market, driven by the increasing availability of high-speed internet connectivity and the growing popularity of digital streaming services. Smart TVs offer built-in Wi-Fi capabilities, app stores, and compatibility with popular streaming platforms such as Netflix, Amazon Prime Video, and Disney+ Hotstar.

Consumers are increasingly seeking televisions that not only provide traditional broadcast content but also offer a range of interactive features, voice control options, and access to a wide array of on-demand content. This trend is reshaping viewing habits, as households embrace the convenience of streaming their favorite shows, movies, and live sports directly on their TV screens.

Rise of OLED and QLED Technologies

OLED (organic light-emitting diode) and QLED (quantum dot LED) technologies represent a significant advancement in television displays, offering superior picture quality and enhanced viewing experiences. OLED TVs, known for their deep blacks, rich colors, and wide viewing angles, have garnered attention among consumers seeking premium viewing experiences.

Similarly, QLED TVs utilize quantum dots to enhance brightness levels, color accuracy, and overall image clarity. These technologies are increasingly being integrated into high-end television models offered by leading brands, catering to consumers' demands for superior visual performance and advanced display technologies.

Expansion of Content and Streaming Services

The expansion of digital content and streaming services has transformed the television landscape in India. OTT (over-the-top) platforms such as Netflix, Amazon Prime Video, Disney+ Hotstar, and others have witnessed rapid growth, offering a diverse range of content including original series, movies, documentaries, and live sports.

This trend has fueled the demand for smart TVs capable of seamlessly accessing and streaming content from multiple platforms. Manufacturers and content providers are forging partnerships and licensing agreements to deliver exclusive content to smart TV users, enhancing the appeal of these devices among tech-savvy consumers.

Emphasis on Energy Efficiency and Sustainability

Energy efficiency and sustainability have emerged as important considerations in the Indian television market. With increasing awareness about environmental impact and energy consumption, consumers are prioritizing energy-efficient models that comply with international standards such as Energy Star ratings.

Manufacturers are responding by developing televisions with advanced power-saving features, LED backlighting systems, and eco-friendly materials. This trend not only appeals to environmentally conscious consumers but also aligns with regulatory initiatives aimed at reducing carbon footprints and promoting sustainable manufacturing practices.

Segmental Insights

Screen Size Insights

In the India Television Market, the 50''-59'' screen size segment has emerged as the dominant choice among consumers. This segment appeals to a wide range of households seeking a balance between screen size, viewing comfort, and affordability. Consumers are increasingly opting for larger screen sizes within this range to enjoy an immersive viewing experience for movies, sports, and gaming. The 50''-59'' category strikes a balance between providing a cinematic feel while still being practical for most living room sizes in urban and suburban homes across India.

Manufacturers have responded by offering a diverse array of models in this segment, incorporating advanced technologies such as 4K Ultra HD resolution, HDR (high dynamic range), and smart TV capabilities. These features enhance the viewing experience by delivering vibrant colors, sharp details, and seamless access to streaming content and applications. Additionally, competitive pricing strategies and promotional offers from leading brands and retailers have contributed to the popularity of the 50''-59'' segment, making it a preferred choice for consumers looking to upgrade their home entertainment setups without compromising on quality or budget.

Distribution Channel Insights

Supermarkets and hypermarkets have emerged as the dominating distribution segment in the India television market. These retail formats offer significant advantages such as wide product selections, competitive pricing, and convenient shopping experiences, attracting a large number of consumers looking to purchase televisions. One of the key factors driving growth in supermarkets and hypermarkets is their ability to showcase a diverse range of television brands and models under a single roof. This allows consumers to compare features, screen sizes, prices, and customer reviews before making a purchase decision. The availability of knowledgeable staff and interactive displays further enhances the shopping experience, helping consumers make informed choices based on their specific preferences and requirements.

Moreover, supermarkets and hypermarkets often run promotional campaigns, discounts, and bundled offers on televisions, attracting price-sensitive consumers seeking value for money. These retail formats also benefit from their strategic locations in urban and semi-urban areas, catering to a wide demographic of consumers who prefer the convenience of one-stop shopping for electronics. As consumer preferences evolve and demand for televisions continues to grow, supermarkets and hypermarkets are poised to play a pivotal role in shaping the distribution landscape of the Indian television market, offering both accessibility and competitive pricing to meet the diverse needs of consumers across the country.

Regional Insights

In the India Television Market, the North region has emerged as the dominant and fastest-growing segment. Comprising states such as Delhi, Uttar Pradesh, Rajasthan, Haryana, Punjab, and others, the North region showcases robust growth in television sales driven by several factors.

One of the primary reasons for the dominance of the North region is its high population density and urbanization rate. Metropolitan cities like Delhi and NCR (National Capital Region) have a large concentration of affluent consumers with disposable incomes, who exhibit a strong inclination towards purchasing consumer electronics, including televisions. The presence of a burgeoning middle class also contributes significantly to the demand for televisions in urban and semi-urban areas across the region. Furthermore, the North region benefits from extensive retail infrastructure, including modern retail chains, electronics stores, and hypermarkets, which cater to the diverse preferences of consumers. These retail outlets offer a wide range of television brands, sizes, and features, coupled with competitive pricing and promotional offers, which attract consumers seeking value and quality.

Additionally, the North region experiences a high demand for smart TVs and advanced technologies due to increasing digital literacy and connectivity. Consumers in urban centers are keen on accessing streaming services, online content, and interactive features offered by smart televisions, further driving the growth of this segment in the North Indian market. Overall, the North region's dominance in the India Television Market is underscored by its economic vibrancy, consumer preferences for premium home entertainment experiences, and robust retail infrastructure, making it a pivotal growth driver in the national television industry.

Key Market Players

• Samsung India Electronics Pvt Ltd.
• LG Electronics India Private Limited
• Xiaomi Technology India Private Limited
• Oneplus Technology India Private Limited
• Sony India Private Limited
• Hisense India Private Limited
• TCL-India Holdings Private Limited
• Intex Technologies (India) Limited
• Panasonic Life Solutions India Private Limited
• Haier Appliances India Pvt Ltd

Report Scope:

In this report, the India Television Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

India Television Market, By Screen Size:

• 39'' and Below
• 40''-49''
• 50''-59''
• Above 59''

India Television Market, By Display Type:

• LED
• OLED
• Others

India Television Market, By Distribution Channel:

• Multi-Branded Stores
• Supermarkets & Hypermarkets
• Online
• Exclusive Stores
• Others

India Television Market, By Region:

• North
• South
• East
• West

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the India Television Market.

Available Customizations:

India Television Market report with the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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