India Television Markets Competition Forecast & Opportunities, 2028: OTT Platform Popularity and Increased Demand for Smart Televisions Drives Market Expansion

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Nov 23, 2023, 20:15 ET

DUBLIN, Nov. 23, 2023 /PRNewswire/ -- The "India Television Market Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.

The Indian television market is currently witnessing robust demand and is poised for rapid expansion to 2028

This growth is primarily attributed to the increasing popularity of large-screen televisions and smart TVs equipped with advanced features. Furthermore, the burgeoning demand for Over-The-Top (OTT) platforms in the country is significantly propelling the television market in India, driven by the preference for consuming OTT content on larger screens.

Currently, a plethora of smart TV manufacturers collaborate closely with OTT content providers and device suppliers to integrate relevant built-in functionalities into their products. These include a diverse range of OTT apps available on smart televisions. These features not only enhance the user experience of smart TVs but also transform them into comprehensive offerings that resonate with millennial consumers.

The integration of smart televisions, a majority of which operate on Android or iOS platforms, is also augmented by proprietary operating systems developed by leading technology companies. This integration has facilitated the inclusion of multiple apps on modern smart TVs, rendering them exceedingly adaptable and dynamic.

Escalating Television Ownership Propelling Market Growth

According to data from the Broadcast Audience Research Council (BARC), India boasted approximately 210 million television households in 2021, marking a notable 6.9% increase from 197 million in 2018. Interestingly, rural India outpaced urban areas in terms of television ownership, with urban television households experiencing a 4% rise from 87.8 million in 2018 to 91 million in 2020.

In tandem, rural areas witnessed a 9% surge, reaching 119.2 million TV households in 2020, up from 108.9 million. Moreover, as highlighted in a Mint article, a substantial opportunity awaits television manufacturers, as around 90 million households are yet to acquire a television.

Surging Demand for Smart Televisions Drives Market Expansion

Larger television screens have gained enduring favor among consumers, and the rise in disposable incomes has fueled the demand for Smart Televisions, constituting approximately 18-20% of sales within India's electronics sector. Smart TVs have transitioned from being niche products to mainstream favorites, captivating not only metropolitan areas but also smaller towns and Tier II cities due to their affordability comparable to conventional TVs.

Smart TVs enable internet connectivity and provide access to a plethora of online content. India Brand Equity Foundation (IBEF) data projects that by 2025, the count of connected smart TVs will range between 40 to 50 million. These screens will host a variety of content, including gaming, social media, short videos, and content tailored for this audience by various media channels.

Surge in OTT Platform Popularity Driving Market Momentum

Consumers' media consumption habits have undergone a transformative shift. Traditionally, viewers adhered to scheduled cable or satellite broadcasts. However, the preference has shifted towards streaming services like Netflix, Amazon Prime, and YouTube, offering greater flexibility and content access.

This trend has been bolstered by the convenience of viewing preferred content on larger screens. Data from the CII-BCG report titled 'Blockbuster Script for a New Decade' highlights that India's paid subscribers to OTT services surged from 14 million in 2018 to 70-80 million by the end of 2021. This drastic growth further cements the television market's high growth trajectory, fueled by the escalating popularity of OTT platforms in India.

Market Dynamics

Drivers

Increasing demand for smart televisions
Rising popularity of OTT content
Increasing television ownership

Challenges

Shortage of raw materials
Increasing prices of television

Market Trends & Developments

Increasing popularity of 4K and 8K resolution televisions
Easy availability through e-commerce platforms
Rising demand of large size televisions
Surge in demand for live streaming

Voice of Customer Analysis (B2C Model Analysis)

Sample Size Determination
Respondent Demographics
By Gender
By Age
By Occupation
Brand Awareness
Factors Influencing Purchase Decision
Sources of Information

Impact of COVID-19 on India Television Market

Impact Assessment Model
Key Segments Impacted
Key Regions Impacted
Key Mode of Purchase Impacted

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India television market.

Samsung India Electronics Pvt Ltd.
LG Electronics India Private Limited
Xiaomi Technology India Private Limited
Oneplus Technology India Private Limited
Sony India Private Limited
Hisense India Private Limited
TCL-India Holdings Private Limited
Intex Technologies (India) Limited
Panasonic Life Solutions India Private Limited
Haier Appliances India Private Limited

Report Scope

India Television Market, by Screen Size:

50''-59''
40''-49''
39'' and Below
Above 59''

India Television Market, by Display Type:

LED
OLED
Others (LED, OLED, Others (LCD, QLED, etc.))

India Television Market, by Distribution Channel:

Multi Branded Stores
Supermarkets/Hypermarkets
Online
Others (Institutional Sales, Exclusive Stores, etc.)

India Television Market, by Region:

North
South
East
West

For more information about this report visit https://www.researchandmarkets.com/r/42x5g2

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