India’s Smart TV Market Booms with 14 Million Units Sold in 2020, Dominated by 4K UHD TVs
In a tech-savvy surge, India Smart TV market witnessed a substantial leap with the sale of 14 million units in 2020, marking a significant milestone in the country’s growing technological landscape. The 4K UHD TV segment, highlighted in a comprehensive MMR report, emerged as the dominant force propelling the Smart TV market to new heights.
India, being a rapidly developing nation, has experienced an upswing in technology adoption, and smart homes and offices are becoming increasingly prevalent. The television, historically a staple of Indian entertainment, has evolved into a multifaceted hub with the advent of Smart TVs. Beyond conventional viewing, these intelligent devices seamlessly integrate functionalities such as DVD players, music players, and internet-based applications like YouTube, Amazon, and Netflix.
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India Smart TV Market Report Scope and Research Methodology:
The growth of different segments in the India Smart TV market helps to identify the key growth factors and develop strategies to target core application areas and fill the gaps in the target market.
The report provides an in-depth analysis of the India Smart TV market, including meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies. A bottom-up approach was used to estimate the India Smart TV market size.
Key players in the India Smart TV industry were identified through secondary research, and their market revenues were determined through primary and secondary research. The report also covers mergers and acquisitions, strategic alliances, joint ventures, and partnerships happening in the India Smart TV market by region, by investment, and their strategic intent.
India Smart TV Market Regional Insights:
The global India Smart TV market is divided into five regions: Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. The report provides regional analysis with the India Smart TV market size of each region.
The country-level analysis examines a variety of market factors that are expected to influence current and future India Smart TV market trends, as well as changes in market regulations at the country level. Some of the key factors used to forecast the India Smart TV market situation in each country include consumption, production location and volume, import/export analysis, pricing analysis, raw material prices, and upstream and downstream value chain analysis.
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India Smart TV Market Segmentation:
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.
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.
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.
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 the forecast period?
- What is the expected India Smart TV market size by the end of the forecast period?
- What are the India Smart TV market segments?
- Which segment in the India Smart TV market is expected to grow rapidly during the forecast period?
- Which are the prominent players in the India Smart TV market?
- What key trends are expected to emerge in the India Smart TV market during the forecast period?
- What was the India Smart TV market size in 2022?
- Which region dominated the global India Smart TV market in 2022?
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