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India’s consumers are buying into new-fangled TV sets as never before. The television sales market will be worth annually some $9 billion by the end of 2021, says a new report from Research & Markets – India Television Market By Type, By Feature, By Resolution, By Size, By Leading City.
The report says that over the period, the country’s television market has seen numerous technological advancements – starting from cathode ray tube displays to flat panel displays. Growing middle class population, increasing disposable income and rising number of nuclear family are expected to aid the market of television in India during 2016-2021. Moreover, with increasing focus of companies on innovations, excellent distribution channels and easy availability at every nook and cranny parts of the country, India television market is anticipated to grow at a robust pace over the span of next five years.
Unlike growing demand for small versions of consumer electronics products, the television industry in the country has been registering a reverse trend. In India, consumers are opting for big screen televisions for better viewing experience. In order to cash in on the growing demand for big screen televisions, manufacturers in the country are introducing them with features such as Smart, Curved and 3D at affordable prices, thereby expected to positively influencing the India television market during forecast period.
According to the report, the television market in India is anticipated to cross $ 9 billion by the end of 2021. LED TV segment dominated the country’s television market in 2015, and the segment is anticipated to maintain its dominance over the next five years as well.
LED televisions are energy efficient due to the implementation of various dimming technologies which save power, or technology that turns off LED television, when not in use. Moreover, LED television provides better HD picture quality and refresh rate, in comparison to CRT and Plasma televisions. In 2015, India’s south region was the largest demand generating region of televisions, followed by west region. Few of the leading players operating in India television market include Panasonic, Videocon, Sony, LG, and Samsung, among others.