The newest analysis of the India Television Market Report 2023 by Report Ocean focuses on a number of market-related topics, such as its characteristics, size and growth, segmentation, regional and national breakdowns, competitive environment, market shares, trends, and strategies. It also contains the COVID-19 Outbreak Impact and echoes of the past occurrences. According to regions and market categories, the analysis presents a list of predicted prospects, sales, and revenues. In addition, it covers additional subjects like manufacturing cost analysis, industrial chains, etc. Ask for Free Sample Request
Key Market Features:
Significant factors including revenue, capacity, price, rate, production rate, gross production, capacity utilization, consumption, cost, CAGR, import/export, supply/demand, market share, and gross margin are all evaluated in the study. Additionally, it provides a complete analysis of the relevant market segments and sub-segments, as well as the most crucial market dynamics and their most recent changes.
The flat panel television (LED, LCD, HD, and UHD) market in India was valued at INR 690.16 Billion in 2018 and is expected to reach INR 1,238.33 Billion by 2024, expanding at a compound annual growth rate (CAGR) of 9.25% during the FY 2019-2024 period.
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Television Market in India (LED, LCD, HD, UHD) 2019
Television is one of the fastest-growing consumer durable goods in India, this can be witnessed from the fact that the total number of homes in the country grew only by ~4.5% during 2017-2018 period whereas the television market witnessed ~7.5% growth during the same period. The rapid penetration of television in Indian households can be attributed to reduced cost of production and increased consumer affordability. Over the years, the television industry has adopted fast-evolving technologies to introduce innovations like foldable TV and virtual voice assistant-enabled TV.
Market insights:
The Indian television market comprises of the television sets incorporated with light-emitting diode (LED), liquid crystal display (LCD), high definition (HD), and ultra-high definition (UHD) technologies.
The reduction of import duty on open cell LED TV panels from 5% to 0% has led to the fall the cost of the overall television sets in the country. Moreover, the industry is witnessing a shift in consumer preferences towards flat panel televisions, with a spurt in its demand, from the traditional CRT displays. However, the adoption of substitute devices like laptops and mobile phones, coupled with a fall in profitability is impeding the growth of flat panel television market in India.
Segmentation insights:
The flat panel television market can be segmented into smart TV and non-smart TV. The smart TV segment accounts for a significant share of more than 70% of the overall television market. Foreign players like Xiaomi, OnePlus and Motorola have disrupted the smart TV segment in India with the launch of its range of affordable products. Domestic players are rapidly reducing prices to deal with the fierce competition in the industry. Xiaomi is one of the important players in the smart TV segment with a share of ~29.50%, followed by LG, Samsung and Sony.
In terms of display size, television sets between 32 inches and 43 inches account for the most notable percentage of sales since they are affordable to the masses. Further, as goods and services tax (GST) rates were reduced, prices of television sets went down.
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Competition analysis:
The Indian television market is highly competitive and is dominated by significant players like Samsung, LG and Sony, and they collectively constitute a substantial share of the market. Nevertheless, foreign players like Xiaomi, Realme and OnePlus are flourishing and have captured a considerable share in a short span, owing to their affordable products with a wide variety of features. Moreover, the online sale of television sets has increased considerably in the past few years, posing a threat to conventional sales channels.
Companies covered:
BPL Limited
Intex Technologies (India) Limited
Hitachi India Private Limited
LG Electronics India Private Limited
Panasonic India Private Limited
Philips India Limited
Samsung Electronics India Private Limited
Sony India Private Limited
TCL India
Xiaomi Technology India Private Limited
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Our analysis distinguishes out in addition to the general estimates because it includes carefully considered factors such as the COVID-19 containment status, the recovery of the end-use market, and the recovery timescale for 2020/ 2021.
Geographical Breakdown:
The geographical portion of the study analyzes the market based on regional and national breakdowns, providing reliable information on past and future growth as well as size estimates. For every region, the impacts and anticipated course of COVID-19 recovery are mentioned. To help readers understand current trends and aid in decision-making, the research provides an outlook on emerging market trends and the factors driving the growth of the region.
Why to Choose Our Report?
- Our expertly written study provides succinct solutions and identifies the fantastic chances for investors to make new investments.
- Additionally, it provides superior market plan trajectories and a thorough examination of the infrastructures, possibilities, and constraints that currently face the industry.
- This study offers details regarding end-consumer target groups and their prospective operating volumes, together with the potential locations and sectors to target and the advantages and constraints of participating in the market, in order to assist businesses in developing better strategies.
- Any market’s strong growth is a result of its motivating factors, obstacles, key vendors, important industry trends, etc., all of which are in-depthly discussed in our analysis.
- Additionally, it leads readers through segmentation analysis based on several factors, like product type, application, end consumers, etc. A SWOT analysis of each player is also included in the study, along with information on their product lines, production, value, capacity, etc.
- The study includes information about import and export, significant players, production, and income based on regional markets in a separate part. The research includes details on significant manufacturers, significant market segments, the range of products, years taken into account, and study objectives.
- In addition, the study’s effective SWOT analysis can be used to determine the data’s accuracy.
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