MUMBAI: Increasing disposable income coupled with technological advancements and growing preference for smart, energy-efficient and internet-enabled television will drive the India television market through 2021.
According to a TechSci Research report on the India television market 2011-2021, the market is anticipated to cross US$ 9 billion by the end of 2021. With a population of over a billion, India is one of the major developing countries with huge middle class population base and rising per capita income. In recent years, Indian television market has witnessed drastic transformations, with consumer preference changing from CRT TVs to Smart TVs. With emergence of new technologies and robust adoption of these technology equipped televisions, the India television market is expected to grow at a robust pace during 2011-2015.
TechSci Research, a leading global market research firm, serves 700 global clients with more than 600 studies across 11 industrial verticals.
With increasing digitisation, the number of DTH users in India is expected to increase from 43 million in 2015 to 62 million by 2021. In order to ensure 100% digitization across the country, the Government of India allowed 100% FDI, through automatic route, for broadcast carriage services like teleport, cable services and head-end-in-the-sky (HITS). Backed by favorable government policies and increasing number of DTH users, the demand for televisions, especially Smart TV, is expected to increase in the next five years.
During the last 15 years, about 90 million people shifted from rural to urban areas in India, which resulted in increase in the number of cities with more than a million population in the country from 25 in 2001 to around 50 in 2014. Moreover, more than 50 million new houses were constructed in urban India during 2001 - 2014. The same trend is likely to continue in the coming decade as well. Increasing urbanization and growing number of households are some of the factors which are expected to propel the growth of the country's television market during 2016-2021.
"Electricity costs are increasing every year, and will continue to rise in the future as well. With increasing electricity cost, consumers are upgrading their old electronic appliances, including television, to energy efficient appliances. LED TV as well as LCD TV are energy efficient, and both comprises of different dimming technology to save electricity. LED televisions are 30% more energy efficient as compared to LCD television. A 32-inch LCD TV consumes 95-100 watts, while LED TV of the same size consumes only about 55 watts. While, Plasma TV consumes around 140 watts, which is more than electricity consumption by LED TV, which is around 70-80 watts. Hence, with increasing electricity concerns, companies involved in the business of television in India are launching energy efficient televisions," said TechSci Research director Karan Chechi.
