India's Smart TV Market Thrives with 14 Million Units Sold in 2020, 4K UHD TV Dominates Segment

In a burgeoning landscape of technology and entertainment, India's Smart TV market witnessed a remarkable surge with a total volume of 14 million units sold in 2020, according to a comprehensive report by market research firm MMR. The report highlights the dominance of the 4K UHD TV segment, offering insights into the market dynamics, trends, and key players shaping the landscape.

Smart TV Revolution in India:

India, a rapidly developing country, has seen a sharp rise in technology penetration, influencing lifestyle choices and entertainment preferences. With the advent of smart homes and offices, Smart TVs have become integral, serving not only entertainment needs but also incorporating functions like DVD players, music players, and access to a plethora of Internet-based applications such as YouTube, Amazon, and Netflix.

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India Smart TV Market Scope:

India Smart TV market is rapidly growing during the forecast period so the MMR report is carved using history, consumer habits, & market volatility.

India Smart TV market report delivers an in-depth analysis of the market structure along with estimations of the various segments & their sub-segments.

The report explores the India Smart TV market segments by Type, Specialty, Application, End-Users and Region. As the India Smart TV market is growing rapidly for that we integrated data from market participants & regions may consist of (North America, Asia Pacific, Europe, Middle East & Africa, and South America).

Research is conducted using tools that are used to analyze the threats and opportunities in the forecasted period by SWOT and PORTER’S five forces to understand the underlying factors affecting the industry.

India Smart TV Market Segmentation:

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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India Smart TV Market Major 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:

Competitive analysis of the regional market gives insides to newcomers about the competition present in the market with their revenue, technological advancements, developments, mergers and acquisitions, alliances and marketing tactics.

The regional market size was estimated precisely using a bottom-up approach to collect microelements that affect market growth. India Smart TV market report consists of macro analysis which helps users to understand the key points & overall aspects of the industry, this report is carved using historical data, consumer habits, & market volatility, competition, and others.

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Key Questions answered in the India Smart TV Market Report are:

• What is India Smart TV Market?
• 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 factors are affecting the India Smart TV market growth?
• Who are the key players of the India Smart TV market?
• Which company held the largest share in the India Smart TV market?
• What will be the CAGR of the India Smart TV market during the forecast period?
• What key trends are likely to emerge in the India Smart TV market in the coming years?

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 medical devices, pharmaceutical manufacturers, 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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