India’s Smart TV Market Sees Exponential Growth, Reaching 14 Million Units in 2020
In a technological surge, India’s Smart TV Market witnessed a significant leap, boasting a volume of 14 million units in 2020, according to a recent report by Market Research Reports (MMR). The 4K UHD TV segment, a focal point of MMR’s analysis, emerged as the dominating force in the Indian Smart TV market.
Smart Entertainment Integration in the Tech-Driven Nation
India, a rapidly developing nation, is experiencing a swift increase in technology adoption. The traditional role of television as the primary source of entertainment is evolving with the rise of smart offices and smart homes. Smart TVs, a vital component of this transition, not only serve the conventional entertainment purposes but also act as versatile devices encompassing DVD players, music players, and internet-based applications like YouTube, Amazon, and Netflix.
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India Smart TV Market Scope:
Maximize Market Research’s India Smart TV Market Report provides a comprehensive analysis of the market, using a dynamic research methodology. The report covers major growth drivers, market dynamics, challenges, and scope, as well as PESTLE, Porter, and SWOT analyses. It also includes information on the latest developments and technologies in the global India Smart TV market.
The report provides detailed information on the global India Smart TV market, including market shares, supply chain analysis, and key success factors. It also includes the opinions of industry experts from top leading organizations in the global India Smart TV market.
Segmentation Analysis:
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.
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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.
Regional Analysis
The report provides the statistical market growth data for every influencing economy in the global India Smart TV market. The various countries like North America, Asia-Pacific, Europe, Latin America, and MEA are considered while preparing report. All the emerging trends with population growth along with government strategies and regulations are covered in the report. The final conclusion part of regional insights consists, of all economies’ in the market influencing data in the form of historical as well as forecasted period.
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Key Questions answered in the India Smart TV Market Report are:
- What is the forecast period of the India Smart TV Market?
- What is the competitive scenario of the India Smart TV market?
- Which region held the largest market share in the India Smart TV Market?
- What are the opportunities for the India Smart TV Market?
- What are the restraining factors in the India Smart TV market?
- Who are the key players of the India Smart TV market?
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 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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