Technology-Enabled Television Market in India Is Set To Grow Exponentially
According to the latest report released by Research On Global Markets, television market in India is moving far beyond the cathode ray tube (CRT) format by adopting several high-end technologies. The flat screened television have penetrated the Indian market through continuous innovations and drop in prices.
The global television market is broadly categorised into liquid crystal display (LCD) and organic light emitting diode (OLED). The premium category includes ultra-high definition (UHD) and 4K television. The Indian market is dominated by these categories and the major players are LG, Samsung and Sony.
According to the report television viewing has penetrated more than 99 million homes in rural India. LED televisions are quickly gaining popularity among the Indian audience and television manufacturers are choosing to market light emitting diode as they are more colourful, sharper, detailed and offer higher resolution pictures.
The television market profits significantly during the festive seasons in the country starting in August with Independence Day till Diwali in October, and during major sporting seasons as electronic stores and e-commerce platforms offer special discounts, cashbacks and exchange deals at this time of the year.
Factors such as rising consumption of television in tier 1 and tier 2 cities, increasing internet penetration and improved connectivity across the country, and lower prices of televisions compared to a decade ago are leading factors for the growth of the market for televisions in India. These televisions occupy less space, look stylish and consume lesser power consumes less power compared to CRT monitors. Flat screen displays are extremely popular among the tech savvy consumers in urban areas. Digital influence on the Indian consumers spending is growing rapidly. The implementation of the cable digitization mandate further aided by over the top (OTT) services has contributed greatly to the growing popularity of new age, technologically advanced televisions.
The television market in India is threatened by the growing penetration of smartphones, enabled with internet connected. The method of viewing digital content has shifted gradually from the television to smartphones, at least in the urban areas. This is not good for the sustained growth of the television market. Another limitation is the high reliance of Indian manufacturers on the import for sourcing major portions of the television components.
Intex Technologies (India) Limited, LG Electronics India Private Limited, Micromax Informatics Limited, BPL Limited, and Mirc Electronics Limited, some of the major players that are operating in the Indian television market.
Key highlights of this report:
- Overview of the television market in India
- Television market size and growth forecast - value-wise (2015-2023e)
- Qualitative analysis of the drivers, trends and challenges affecting the market and its segments
- Flat-panel display market size and growth forecast - value-wise (2015-2023e)
- Television market in India segmentation based on technology- (UHD, Full HD, HD)- percentage split (2017)
- Television market in India segmentation based on company-( Samsung, Sony, LG and others)- percentage split (2017)
- Television market in India segmentation based on screen size- (< 32-inch, 32-inch, >43-inch)- percentage split (2017)
- Export and import of televisions (Value-wise, Volume-wise and country-wise)
- Competitive landscape
Check out the Research on Global Markets report featured in this article:
This report has been collated and designed with the aim to give businesses an in-depth understanding of the television market in India in order to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.