India Sees 8.6% Year-over-Year Growth in Smart TV Shipments for 2024
India’s smart TV market has seen a notable increase, with shipments rising by 8.6 percent year-over-year in 2024, according to the International Data Corporation (IDC). This growth is largely attributed to a surge in demand for larger smart TVs, specifically those measuring 55 inches and above, alongside a significant uptick in offline sales. Samsung continues to dominate the market, holding a substantial share, while LG and other brands like Xiaomi, TCL, and Sony also maintain strong positions.
Market Dynamics and Growth Drivers
The IDC report highlights that India shipped a total of 12.1 million smart TVs in 2024, marking a significant year for the industry. The demand for larger screens has been a key factor in this growth, with shipments of 55-inch and larger TVs soaring by 43 percent. Additionally, offline sales have seen a 20 percent increase, indicating a shift in consumer purchasing behavior. However, the report also notes a decline in online shipments, which fell by 8 percent during the same period. This mixed performance suggests that while consumers are eager for larger, high-quality displays, their purchasing methods are evolving.
Leading Brands in the Smart TV Sector
Samsung has solidified its position as the leader in India’s smart TV market, achieving a market share of 16.1 percent and experiencing a remarkable 35.9 percent growth year-over-year. Following closely is LG, which captured a 15.1 percent market share and recorded an impressive 42.2 percent growth. In contrast, Xiaomi has seen a decline, dropping to third place with an 11.7 percent market share, down from 14.2 percent in 2023. The brand’s shipments decreased by 10.1 percent, reflecting increased competition in the market. TCL and Sony round out the top five, with market shares of 8.4 percent and 8.2 percent, respectively, both showing positive growth rates of 21.1 percent and 26.9 percent.
Future Outlook for the Smart TV Market
Despite the strong performance in 2024, the beginning of 2025 has shown signs of a slowdown, with a 7 percent year-over-year dip in smart TV shipments during January and February. However, IDC analysts remain optimistic about a potential rebound later in the year. They anticipate that the market will recover, leading to mid-single-digit growth in 2025. The analyst noted that segments for 55-inch and 65-inch smart TVs have already shown significant growth, capturing 19 percent and 6 percent of the market share, respectively. This trend suggests that consumer preferences are shifting toward larger, more immersive viewing experiences, which could drive future sales.
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