India’s Smart TV Market Witnesses Remarkable Growth with 4K UHD TVs Dominating in 2020
In a significant technological stride, India’s Smart TV Market has witnessed a substantial surge, reaching a volume of 14 million units in 2020, according to the latest market research report. Notably, the 4K UHD TV segment, a key focus in the report, emerged as the dominant force in the country’s burgeoning Smart TV landscape.
Driving Forces Behind the Smart TV Surge:
The Indian Smart TV market is showing immense potential, attributed to a sharp decline in prices and the increasing popularity of smart TV providers. Investments from major video streaming companies such as Netflix, Amazon Prime, and Hotstar have significantly boosted the number of Pay-TV subscribers. The surge in high-speed internet availability has shifted consumer preferences toward online content, further propelling the Smart TV market’s growth.
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India Smart TV Market Report Scope and Research Methodology
The report provides business statistics and analytical insights to help you understand the India Smart TV market size, market share, growth, trends, demand, top players, industry profile, opportunities, value chain, end-users, types, and applications in plain language. The bottom-up approach was used to estimate the global and regional India Smart TV market size. Both primary and secondary research methodologies were used to clearly present the India Smart TV market structure.
In the secondary research method, data was collected from a selected set of sources. This method was used to gather information on India Smart TV key players and current and past trends in the industry. The information gathered through secondary research was validated using the primary research method, in which India Smart TV industry experts were interviewed.
The report also includes growth opportunities in micro and macro markets for stakeholders to invest in, with a detailed analysis of the competitive landscape and significant India Smart TV competitors’ product offerings. SWOT analysis was used to identify the strengths and weaknesses of the India Smart TV market.
India Smart TV Market Regional Analysis
The report has been segmented into many key countries. This section provides a detailed analysis of the India Smart TV market in all the regions with their key countries including market size, CAGR, and import and export. The regions and their countries studied are:
- North America- U.S., Canada, Mexico
- Europe- UK, Germany, France, Spain, Rest of Europe
- Asia Pacific- China, India, Japan, Australia, South Korea, Asian Countries, Rest of APAC
- South America- Brazil
- Middle East and Africa.
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India Smart TV Market Segmentation:
by Resolution
• 4K UHD TV
• Full HD TV
• HDTV
In 2020, 4K UHD TV held a 39 percent market share in terms of resolution. Indian consumers can now afford 4K HD TVs thanks to technological advancements and cost-effectiveness. To enhance the picture quality of their products, major players like Sony Corporation and Samsung Electronics Co. have embraced nanotechnology and quantum dot technology. These elements are fueling the segment’s market expansion in the Indian smart TV market.
by Application
• Residential
• Commercial
With a 70% market share by application, the residential segment led the market in 2020. The factors propelling the market growth are the growing population and the more affordable smart TVs. These products are being purchased by customers in order to enjoy home theatre experiences, more gaming on smart TVs, a variety of live streaming choices, and numerous cost-effective procedures. The market’s demand for the product is being driven by these factors.
by Screen Size
• 32 to 38
• 40 to 48
• 50 to 60
• Above 65
In 2020, 40 to 48 screen size segments held a 39 percent market share. Customers are purchasing TVs with bigger screens because 4K technology is being quickly integrated with attractive features at reduced costs. For large TV screens, 4K displays are typically advised in order to achieve superior image quality that is not possible with smaller screen sizes. Major suppliers have recently introduced a range of 4K TVs with screen sizes ranging from 40 to 48 inches to meet the increasing demand from customers. These elements are fueling the segment’s market expansion.
India Smart TV Market Key Players are:
• 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.
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Key Questions answered in the India Smart TV Market Report are:
- What is India Smart TV?
- What will be the CAGR of the India Smart TV market during the forecast period?
- What trends are expected to generate additional revenue for the India Smart TV market?
- What are the opportunities for the India Smart TV Market?
- What factors are driving the India Smart TV market growth?
- Which company held the largest share in the India Smart TV market?
Key Offerings:
- A detailed Market Overview
- Market Share, Size, and Forecast by Revenue|2023-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation- A detailed analysis of each segment and their segments
- Competitive Landscape – Leading key players and other prominent key players.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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