Television remained the largest entertainment market in India at INR720 billion ($9.4 billion) in 2021 and is projected to grow to INR826 billion ($10.8 billion) by 2024. Television advertising grew 25% in 2021, recovering from a 22% drop in 2020.
Consumer electronic maker Samsung India expects a nearly 25 per cent growth in the LED TV segment this year as well as aims to capture around 36 per cent share of the overall TV market by bringing innovative products to the Indian Living Room.
The penetration level of TV in Indian homes is around 65 per cent. And panel TV is available for 15 per cent of households only. India’s Smart TV market in Q1 2022 was with a 14.3% share, while Samsung and LG took the second and third spots respectively.
The INR 10,000-INR 20,000 price band captured over 40% share in the overall TV market. The share of TVs with 43” and above screens is increasing as people are shifting to bigger screens. The contribution of the premium TV segment (>INR 30,000) grew 68.6% YoY from 23.5% in Q1 2021 to 33.6% in Q1 2022 as brands are launching more innovative products.