As per their “India Smart TV Market” report, the Indian market was valued at USD ~10,750 million in 2024, growing at a CAGR of about 16.51% during the forecast period from 2025 - 2033 to reach USD million by 2033.

India’s Smart TV market is seeing a dramatic shift towards the new wave, which is being driven by rapid digitization and change in consumer behavior. The growth of the OTT platforms, the improved internet connectivity, and affordable smart devices are influencing the viewing habits all over the country. Consumers are looking in for greater personalized, connected, and immersive home entertainment. This change is empowering brands to develop and localize products aggressively in each new region.

Policy Reforms Fueling Smart TV Growth

The Government Scales Up PLI Budget to Accelerate Manufacturing Drive the Smart TV for industrial growth in areas of India:

On March 03, 2025: In a strong push to accelerate industrial growth, the Government has significantly increased budget allocations for key sectors under the PLI Scheme in 2025-26, reaffirming its commitment to strengthening domestic manufacturing. Several sectors have witnessed substantial hikes, with allocations for Electronics and IT Hardware soaring from INR 5,777 crore (revised estimate for 2024-25) to INR 9,000 crore.

Strategic Moves by Industry Leaders

The major players in the industry are making all the important moves towards exploiting the booming market. Samsung, for example, is targeting double-digit growth by increasing the number of premium offerings and by unveiling Vision AI technology in 2025. Similarly, TCL aims at a 10% market share of India’s TV market and has been sinking heavy resources into digital marketing to increase sales. SPPL, which primarily offers an affordable range of Smart TVs, is targeting 1 million units in 2025, from 600,000 units last year.

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On May 7, 2025, Samsung, India’s largest consumer electronics brand, announced the launch of its ultra-premium 2025 models of Neo QLED 8K, Neo QLED 4K, OLED, QLED TVs, and The Frame lineup, bringing the revolutionary Samsung Vision AI technology to Indian consumers.

In January 2025, TCL Electronics launched the 115” QD Mini LED TV 115X955 Max in India. Priced at INR 29,99,990/-, the Hong Kong-based company claimed that this was the world’s largest TV set. The product was first launched in India and will be introduced in other parts of the globe later.

Regulatory Developments Impacting the Market

Under a crucial regulatory development, the Competition Commission of India cleared a deal with Google over the antitrust issue in the Android TV business. The settlement enables one to get individual licenses for Play Store and Play Services in Android Smart TVs, eliminating previous bundling practices. The move is likely to create more competition and innovation in the operating systems for the Smart TV.

In April 2022, Tech giant Google resolved a nearly four-year-old case with the Competition Commission of India (CCI) concerning alleged anti-competitive practices in the Android Smart TV market by agreeing to revise its agreements with Original Equipment Manufacturers (OEMs) and paying ₹20.24 crore as a settlement amount.

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India's Smart TV Revolution

The Indian Smart TV market offers promising prospects for continued growth with the help of the latest technology, strategic investments made by major stakeholders, and a favourable regulatory framework. Serving as a key driver of the country’s digital economy, the market is expected to be affected by the fact that, as companies concentrate on the provision of improved viewing experiences and expansion of their market share among various consumer segments, the market is likely to grow enormously. According to the UnivDatos rapid rise in internet penetration across urban and rural areas, expansion of OTT platforms and regional content availability, increasing adoption of home automation and connected devices, and falling prices of Smart TVs due to local manufacturing & government incentives drive the India Smart TV market.

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