India Smart TV Market Overview
India smart TV market size was valued at USD 10.5 Billion in 2022. The smart TV industry is projected to grow from USD 12.33 Billion in 2023 to USD 44.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.50% over the projected period (2023 - 2032). The expanded popularity of content on over-the-top (OTT) services, increased consumer spending, the adoption of extravagant lifestyles, and a rise in several strategic collaborations are the main market drivers anticipated to propel India's Smart TV market.
Source: MRFR Database, Primary Research, Secondary Research, and Analyst Review
Smart TV Market Trends
- Increasing demand for personalized entertainment is driving the market growth
India smart TV market CAGR is expanding due to rise in the demand for personalized entertainment. The smart TV market is driven by significant factors such as increasing disposable income and instantaneous urbanization. The smart TV market is estimated to rise rapidly over the forecast period because of the surging adoption of advanced technologies. Other significant factors, such as the emergence of smartphone manufacturers such as Xiaomi, OnePlus, and Micromax and the adoption of 4K resolution TV, will cushion the growth rate of the smart TV market.
Furthermore, growing customer demand drives the smart TV market revenue. Smart TVs have advanced features and applications compared to conventional televisions. To withstand the fierce competition from various streaming device providers, like Apple and Roku, leading players like Samsung and LG specialize in developing their operating systems. For instance, in December 2021, Samsung Electronics Co. Ltd declared the most delinquent expansion in its ongoing partnership with the streaming considerable Netflix to herald the liberation of the second season of its hit show, Emily in Paris, created by MTV Entertainment Studios. Samsung's most delinquent line of premium products is set to push the boundaries of creation, showcasing the brand's ability to integrate style with flagship creation and craftsmanship.
Smart TV Market Segment Insights
Smart TV Operating System Insights
The India smart TV market segmentation is based on the operating systems, including Android TV, Tizen, WebOS, Roku, and others. The Android TV segment dominated the market mostly due to the extensive Play Store credentials for application downloads. It also adds voice tracking and content aggregation from numerous media applications and services. The Android TV operating system enables integration with recent Google technologies like Cast, Knowledge Graph, and Assistant.
Smart TV Resolution Insights
The India smart TV market segmentation, based on resolution, includes HDTV, 4K UHD TV, full HD TV, and 8K TV. The full HD TV held a major market share owing to the high-definition picture quality and an expansive variety of content helping it. Full HD TVs explain 1920 x 1080 pixels, which has been the market baseline for numerous years. This resolution is prevalent as enormous amounts of existing content advocate the resolution. Streaming content and live sports on this resolution does not deplete high internet bandwidth while delivering an immersive and good-quality viewing understanding.
Smart TV Screen Size Insights
The India smart TV market segmentation, based on screen size, includes below 32 inches, 46 to 55 inches, 32 to 45 inches, 56 to 65 inches, and above 65 inches. The 46 to 55 inches held a major market share owing to the increasing trend of buying bigger TVs for a theater-like viewing experience. The segment requirement is attributed to the screen size-to-price value for consumers. It is attractive to viewers as full HD and 4K smart TV prices are decreasing, which in turn is increasing demand. Customers can purchase bigger TVs through favorable financial payment methods such as EMIs.
Smart TV Screen Shape Insights
The India smart TV market segmentation, based on screen shape, includes flat and curved. The flat TV held a major market share due to its easy manufacturing process. Customers prefer flat-screen smart TVs as they are easier to install on walls by mounting. The need for flat-screen smart TVs is prominent due to their lower cost than curved smart TVs. Furthermore, these TVs offer a larger viewing angle and are less reflective than curved screen shapes.
Figure 1: India Smart TV Market, by Screen Shape, 2022 & 2032 (USD Billion)
Source: Primary Research, MRFR Database, Secondary Research, and Analyst Review
Smart TV Distribution Channel Insights
The India smart TV market segmentation, based on distribution channels, includes online and offline. Offline TV held a major market share owing to increasing sales via electronics retailers, independent TV dealers, and distributors. Several customers prefer to purchase electronic products from brick-and-mortar stores as they can directly check the product quality and compare it with similar offerings, directing immediate purchase decisions.
Smart TV Technology Insights
The India smart TV market segmentation, based on technology, includes OLED, QLED, LED, and others. The OLED held a major market share owing to high customer demand driven by their high-end picture quality. OLED TVs can produce inky black levels, highly saturated colors, smooth motion, and excellent viewing angles. Launching new offerings in this segment is expected to enhance the market.
Smart TV Country Insights
The smart TV market is witnessing growth driven by the rising middle-class population, rising disposable incomes, and growing urbanization, which contribute to elevated customer spending on entertainment and technology. Smart TVs deliver seamless access to streaming services, online content, and interactive applications, aligning with the developing media consumption habits of Indian customers. Additionally, affordable data plans and enhanced internet connectivity further drive the adoption of Smart TVs. The increasing need for smart home ecosystems and the integration of advanced techniques, including Artificial Intelligence and voice recognition, also play key roles in extending the smart TV market in India, recollecting a tech-savvy and digitally connected customer base.
Smart TV Key Market Participants & Competitive Insights
Prominent market participants are investing heavily in R&D to enhance their product lines, allowing the smart TV market to expand even more. Market players are also undertaking different strategic activities to expand their footprint, with substantial market developments such as new product establishment, mergers and acquisitions, contractual agreements, and collaboration with other organizations. The smart TV industry must deliver cost-effective items to extend and stay in a more competitive and rising market climate.
Major players in the smart TV market are attempting to expand market demand by investing in research and development operations, including Haier Inc., Intex Technologies, Koninklijke Philips N.V., LG Electronics, Panasonic Corporation, Samsung Electronics Co. Ltd, Sansui Electric Co. Ltd, Sony Corporation, TCL Electronics Holdings Limited, Toshiba Solutions, and Hisense International.
Key Companies in the Smart TV market include
- Haier Inc.
- Hisense International
- Intex Technologies
- Koninklijke Philips N.V
- LG Electronics Inc
- Panasonic Corporation
- Samsung Electronics Co. Ltd
- Sansui Electric Co. Ltd
- Sony Corporation
- TCL Electronics Holdings Limited
- Toshiba Visual Solutions
Smart TV Industry Developments
September 2022: iSony Corporation launched Bravia XR Master Series A95K OLED TV in India. The cognitive XR processor powered the new product, providing an immersive viewing experience.
Smart TV Market Segmentation
Smart TV Operating System Outlook
- Android TV
- Tizen
- WebOS
- Roku
- Other
Smart TV Resolution Outlook
- 4K UHD TV
- HDTV
- Full HD TV
- 8K TV
Smart TV Screen Size Outlook
- Below 32 inches
- 32 to 45 inches
- 46 to 55 inches
- 56 to 65 inches
- Above 65 inches
Smart TV Screen Shape Outlook
Smart TV Distribution Channel Outlook
Smart TV Technology Outlook
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 10.5 Billion |
| Market Size 2023 |
USD 44.9 Billion |
| Market Size 2032 |
USD 1.18 Billion |
| Compound Annual Growth Rate (CAGR) |
17.50% (2023-2032) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Growth Factors, Revenue Forecast, Market Competitive Landscape, and Trends |
| Segments Covered |
Resolution, Screen Size, Screen Shape, Operating System, Distribution Channel, Technology, and Region |
| Countries Covered |
India |
| Key Companies Profiled |
Haier Inc., Koninklijke Philips N.V., Sony Corporation, LG Electronics, Samsung Electronics Co. Ltd, Panasonic Corporation, Intex Technologies, Sansui Electric Co. Ltd, TCL Electronics Holdings Limited, Toshiba Solutions, and Hisense International |
| Key Market Opportunities |
The expanded popularity of content on over-the-top (OTT) services |
| Key Market Dynamics |
Increasing demand for personalized entertainment Increasing demand for Smart TV solutions |
Frequently Asked Questions (FAQ) :
The India smart TV market size was esteemed at USD 10.5 Billion in 2022.
The market is projected to extend at a CAGR of 17.50% during the forecast period, 2023-2032.
The major players in the market are Haier Inc., Intex Technologies, Koninklijke Philips N.V., Panasonic Corporation, LG Electronics, Samsung Electronics Co. Ltd, Sony Corporation, TCL Electronics Holdings Limited, Sansui Electric Co. Ltd, Toshiba Solutions, and Hisense International.
The Android TV category dominated the market in 2022.
The full HD category had the largest share in the market.
The 46 to 55-inch category dominated the market in 2022.
The flat category had the largest share of the market.
The offline category had the largest share of the market.
The OLED category had the largest share of the market.
