NEW YORK, September 23, 2016 /PRNewswire/ --
From luxury to necessity, Television has become an integral part of day to day life. Television has evolved from, simply, a medium to transmit moving images with sound, to a major source of entertainment, advertisement, news and education. Over a period of time, television market has seen numerous technological advancements, ranging from Cathode ray tube displays to flat panel displays like Plasma TVs, LCD TVs and, recently, LED TVs. Flat panel display televisions, which has almost completely replaced CRT display televisions, started gaining momentum in early 2000s in India. With increasing innovations from major players, the television market has witnessed growth at a robust pace in the last decade. Emergence of strong distribution channels of the television manufacturers and availability of wide variety is also expected to drive the television market in India.
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Growing disposable income in the country, changing consumer preferences towards using aesthetically pleasing and energy efficient televisions, flexible government taxation policies coupled with rapid technological advancements in the product and product offerings by major international and domestic players at competitive prices are few of the major factors driving the demand for televisions in the country.
India Television Market: Drivers and Restraints
India television market has witnessed a robust growth during the last five years and is expected to grow at a significant rate during the next five years. Growing technological advancements in television market has resulted in increased R&D spending among major market players such LG, Samsung, Sony etc. which are coming up with new technologies such as curved panel display, OLEDs & 3D televisions in the market. Moreover, major consumer preference shift is being witnessed, within tier II and tier III cities, towards flat panel television from CRTs has also increased the replacement demand of television. Flat panel televisions consist of features such as high picture quality, enhanced color contrast, ultra-high resolution, which are available at highly competitive prices, and easy financing options due to which the demand for flat panel televisions in India market is expected to grow with high CAGR during the next five years. Televisions have been sold through various sales channels including several online portals and with increasing internet penetration in the country and busy lifestyle of people along with the convenience factor associated with online shopping is also contributing to the increasing demand of televisions in India.
However, with entry of domestic players into television segment, offering products at comparatively low prices, and longer replacement cycle of flat panel televisions are expected to act as a potential challenge for India television market.
Television Market: Segmentation
The India Television Market is classified on the basis of type, feature, screen size, resolution, end use sector & region.
India Television Market: By Type
India Television Market, by Feature
India Television Market, by Resolution
India Television Market: By Region
On the back of high urbanization rate, growing household disposable income, rising residential construction activities and increasing migrating population due to growing employment opportunities, the north and west region of the country accounted for major revenue share in India Television market.
India Television Market: Key Players
Samsung, Sony, LG, Panasonic and Toshiba are some of the major players operating in television market in India.
The report covers exhaustive analysis on:
Regional analysis includes
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