India Smart TV Market: Industry Analysis and Forecast (2021-2027) by Resolution, Screen Size, Application, and Region.

India Smart TV Market Volume was at 14 Mn. Units in 2020. 4K UHD TV, one of the segments reviewed in MMR report dominated the India Smart TV Market.
India Smart TV Market Overview:
India is a developing country, and the technology penetration rate is rising rapidly. Since the advent of television, television has been the main source of entertainment in India. As technology advances, smart offices and smart homes are becoming more and more popular, and smart TVs are an important part. Smart TVs serve their original entertainment purposes, as well as functions such as DVD players, music players, and running Internet-based applications like YouTube, Amazon, Netflix, etc.



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Though market forecasting through 2027 is based on real output, demand, and supply of 2020, 2020 numbers are also estimated on real numbers published by key players as well all-important players across the world. Market forecasting till 2027 is done based on past data from 2016 to 2019 with the impact of global lockdown on the market in 2020 and 2021.
India Smart TV Market Dynamics:
The Indian smart TV market is showing great potential. This is due to the sharp drop in smart TV prices and the increasing popularity of smart TV providers. Large investment flows from video streaming media companies such as Netflix, Amazon Prime, and Hotstar has increased the number of Pay-tv subscribers. These factors are driving the demand for Smart TV Market.

The surge in high-speed Internet in most parts of India has led to a shift in consumer taste to online content, driving the market growth. Large investment flows from video streaming media companies have increased the number of PayTV subscribers. In addition, an increase in disposable income and an increase in the Internet penetration rate also contributed to the increase in sales of smart TVs. These factors are driving the demand for smart TV in the market.

Lifestyle changes in the middle-income group are due to rising income levels, heightened awareness, the introduction and increase in new technologies, Internet penetration, and government initiatives, primarily in Tier II and Tier III cities. These factors are expected to drive the market of Smart TV through the forecast period.

The growing demand for online streaming has opened up the opportunity for service providers to enter the over-the-top space and deliver content over the Internet. (OTT) content players such as Netflix, Amazon, etc., and several other streaming services are moving away from DTH and TV cable services. These factors are making consumers switch to the smart TV.

Features such as ambient intelligence, automated user assistance, and increased disposable income for Indians are increasing the importance of smart TVs in the IoT ecosystem and driving the Smart TV market growth in the country.

OTT and IPTV are becoming more important due to increasing broadband penetration and changing consumer behavior of content. Digital transformation initiatives such as cable TV digitization and Direct to Home (DTH) services are also supporting the introduction of IPTV in the country.

Increased consumer net disposable income was a major factor in sustainable demand in the country. The availability of content that supports these devices, such as HD video, HD set-top boxes, and games. These are driving millennials towards smart TV.

The presence of Chinese players is important for the competitive pricing of products in these markets, many of which are partnered with e-commerce platforms to offer their products. One of the largest exporters of smart TV to India.

Market trends and challenges are analyzed and compiled in the report. The data of 2020 is considered for a better understanding of the client. Moreover, Analytics of the market is based on real numbers of past years from 2016 to 2019 with market forecast until 2027.


India Smart TV Market Segment Analysis:
By Resolution, 4K UHD TV dominated the market with a 39 % share in 2020. Due to product innovation and cost efficiency, 4K HD TV is available to Indian consumers at affordable prices. Key players, including Samsung Electronics Co., Sony Corporation, etc. have adopted quantum dot technology and nanotechnology to improve the picture quality of products. These factors are driving the market growth of the segment in the Indian Smart TV Market.

8K TV is expected to grow at a CAGR of 15 % through the forecast period. 8K TVs have approximately 32.6 million pixels, which is more than 8.4 million pixels in 4K HDTV. Rising consumer demand for TVs offering high-resolution picture quality is expected to drive the market growth of the segment. The launching of 8K TVs equipped with advanced features, such as Active Voice Amplifier, pop-up camera, Dolby Atmos, and Dolby Vision support is expected to drive the demand of the segment through the forecast period.

By Screen Size, 40 to 48 segments dominated the market with a 39 % share in 2020. With lower product prices and the rapid integration of 4K technology with compelling features, consumers are buying TVs with larger screen sizes. 4K displays are usually recommended for large TV screens to achieve superior image quality that small screen sizes cannot provide. To meet growing customer demand, major suppliers have recently launched a comprehensive 4K TV with screen sizes of 40- 48 inches. These factors are driving the market growth of the segment.

The 50 to 65 segment is expected to grow at a CAGR of 12 % through the forecast period. The number of customers investing in next-generation large-screen TVs is increasing and large screens give a theatre-like experience with surround sound, 3D goggles, etc. at home. These factors are expected to drive the market growth of the segment through the forecast period.

By Application, Residential Segment dominated the market with a 70 % share in 2020. The increasing population, Availability of smart TVs at lower cost are factors driving the market growth. Consumers are buying these products to have a theatre experience at home, increasing gaming in smart TVs, various live streaming options available, a wide range of cost-efficient processes. These factors are driving the demand for the product in the market.

The commercial segment is expected to grow at a CAGR of 3 % through the forecast period. The increasing usage in hotels, hospitals, and other sectors is expected to drive the growth of the segment through the forecast period.



The objective of the report is to present a comprehensive analysis of the India Smart TV market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the India Smart TV market dynamics, structure by analyzing the market segments and projecting the India Smart TV market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the India Smart TV market makes the report investor's guide.
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Global India Smart TV Market


Report Coverage
Details


Base Year:
2020
Forecast Period:
2021-2027


Historical Data:
2016 to 2020
Market Size in 2020:
US $ 14 Mn.


Forecast Period 2021 to 2027 CAGR:
6.4%
Market Size in 2027:
US $ 21.8 Mn.


 Segments Covered:
by Resolution
• 4K UHD TV
• Full HD TV
• HDTV


by Application
• Residential
• Commercial


by Screen Size
• 32 to 38
• 40 to 48
• 50 to 60
• Above 65



India Smart TV Market Key Players
• LG Electronics Inc.
• Apple Inc.
• Hisense Group Co. Ltd
• Haier Group Corporation
• Hitachi Ltd
• Intex Technologies
• Micromax Informatics Ltd.
• Panasonic India Pvt. Ltd.
• Philips India Ltd.
• Samsung India Electronics Pvt. Ltd
• Sony India Pvt. Ltd.
• TCL India
• Vu Technologies Pvt. Ltd.
• Xiaomi Technology India Pvt. Ltd.

FAQ: 

1] What segments are covered in the India Smart TV Market report?
Ans. The segments covered in the India Smart TV Market report are based on Resolution, Application, and Screen Size.

2] What is the market size of the India Smart TV Market by 2027?
Ans. The market volume of the India Smart TV Market by 2027 is 21.8 Mn. Units.

3] Who are the top key players in the India Smart TV Market?
Ans. LG Electronics Inc., Apple Inc., Hisense Group Co. Ltd, Haier Group Corporation, Hitachi Ltd, Intex Technologies, Micromax Informatics Ltd., Panasonic India Pvt. Ltd., Philips India Ltd., Samsung India Electronics Pvt. Ltd, Sony India Pvt. Ltd., TCL India, Vu Technologies Pvt. Ltd., Xiaomi Technology India Pvt. Ltd.

4] What was the market size of the India Smart TV Market in 2020?
Ans. The market Volume of the India Smart TV Market in 2020 was 14 Mn. Units.