The India smart TV market was valued at USD 9.9 billion in 2022 and is expected to grow significantly with a compound annual growth rate (CAGR) of 16.7% between 2023 and 2030. This impressive growth is largely driven by rising disposable incomes and the increasing popularity of OTT streaming services across the country. Additional factors contributing to market expansion include the widespread availability of internet connectivity, frequent launches of new TV models by brands offering attractive promotions and discounts, and a surge in online sales. Consumers nationwide are increasingly seeking smart TVs with enhanced features such as larger screen sizes and improved sound systems, pushing manufacturers to develop products with advanced specifications.

Smart TVs operate similarly to smartphones, featuring operating systems and enabling users to stream content via internet connections. Beyond streaming, these TVs allow users to download apps, play video games, and access social media platforms, making them highly interactive. The growing appeal of OTT services and affordable high-speed internet access have accelerated the adoption of smart TVs in India. Moreover, government initiatives like Digital India and Make in India have played a pivotal role in fostering market growth.

Additionally, telecom providers such as Airtel and Reliance Jio rolled out 5G services in 50 Indian cities by December 2022. The launch of 5G has opened up further opportunities for the smart TV and OTT sectors by enabling faster and more reliable internet connections. According to the FICCI-EY Report 2022, the number of smart TVs in India is projected to surpass 40 million by 2025, highlighting the rapid expansion of this market.

Key Market Trends & Insights:

• By operating system, the Android TV OS led the market in 2022, capturing a substantial revenue share of approximately 34.0%. This indicates its strong preference among consumers for smart TVs equipped with this platform.

• In terms of resolution, the HDTV segment generated the highest revenue share, accounting for about 53.0% of the market in 2022, reflecting widespread consumer demand for high-definition viewing experiences.

• Regarding screen shape, flat screens dominated the market in 2022 and are expected to continue growing at a compound annual growth rate (CAGR) of around 17.0% throughout the forecast period, highlighting their sustained popularity.

• When looking at screen size, the 32 to 45 inches segment was the market leader in 2022, holding a revenue share exceeding 37.0%, demonstrating that this size range remains the most favored choice among consumers.

Order a free sample PDF of the India Smart TV Market Intelligence Study, published by Grand View Research.

Market Size & Forecast:

• 2022 Market Size: USD 9.9 Billion

• 2030 Projected Market Size: USD 32.57 Billion

• CAGR (2023-2030): 16.7%

Key Companies & Market Share Insights:

Key players in the Indian smart TV market are concentrating on launching advanced technologies combined with bezel-less designs, offering competitive prices and fully loaded features tailored to appeal to consumers across various income levels.

For instance, in August 2022, Sony India unveiled the BRAVIA XR 86X95K 4K Mini LED TV, which boasts cutting-edge XR Backlight Master Drive technology. This model supports 4K video playback at 120 frames per second, along with features such as variable refresh rate, auto low latency mode, auto HDR tone, and auto game mode, enhancing the overall viewing and gaming experience.

Similarly, in September 2022, Samsung introduced the Frame smart TVs to the Indian market. These models come with customizable bezels, an art mode that transforms the TV into a piece of wall art when not in use, and a matte display designed to provide immersive entertainment by reducing glare and reflections.

Key Players

• Panasonic Corporation

• Samsung India Electronics Pvt. Ltd.

• L.G. Electronics India Pvt. Ltd.

• Sony India Pvt. Ltd.

• Xiaomi Inc.

• Koninklijke Philips N.V

• VU Technologies Pvt. Ltd.

• Intex Technologies

• Micromax Informatics Ltd.

• TCL India

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion:

The India smart TV market is experiencing significant growth, driven by factors such as increasing disposable income, the rising popularity of OTT services, and advancements in internet connectivity. The government's initiatives like Digital India and Make in India have further bolstered this growth. The introduction of 5G services has created greater opportunities for both the smart TV and OTT services industries in India. Manufacturers are focusing on developing advanced smart TVs at competitive prices, catering to a wide range of consumers. The market is expected to continue its upward trajectory, with a projected increase in the number of smart TVs in the country