You are here: Home » Companies » News
Great Indian Festival: Apple iPhone 13 gets a further price cut on Amazon
Vizhinjam port runs into rough weather amid protests from fisher community
Business Standard

Large-panel TVs' share has tripled in 5 years to over 40%: CRISIL report

Sharp 35-40% decline in prices over the past five years has been the key growth driver; other tailwinds include greater rising incomes, higher OTT consumption and deeper web penetration

Television | OTT | Crisil report

Pratigya Yadav  |  New Delhi 

TV, cricket

Drop in prices, a shift in viewing habits and a combination of tailwinds such as rising incomes, increasing internet penetration, higher bandwidth availability and rising consumption of over-the-top (OTT) streaming have tripled the share of televisions with large panel sizes (40 inches and above) to over 40 per cent in the past five years, a has said.

The research estimates that if the tailwinds continue, the share may cross the 50 per cent mark by FY27.

It also found that a sharp decline in the prices of large-panel TVs, to the extent of 35-40 per cent in the past five years has been the most important driver of growth.

Competition in the space has increased considerably with the entry of Xiaomi, Vu Technologies, One Plus, etc, which has led to a price war, according to the report.

Pushan Sharma, director, CRISIL Research said: “The number of brands in the space has doubled in the past 5-7 years, with over 70 brands jostling for customer wallets at present. Also, there was surplus capacity in the 43-inch screen size as western countries had already moved to larger-sized screens prior to 2018."

Moreover, India has seen a surge in internet users over the past few years, with web penetration reaching 62 per cent in FY22 from less than 20 per cent of the total population in FY15. Reliable internet connections, with higher bandwidth, have increased viewership from a minuscule number in 2015 to about a fourth of the total population in 2021, according to industry sources.

The report mentions another factor driving demand for large TVs -- the release of films on streaming services amid the pandemic, given the lingering fear of visiting multiplexes and a spurt in online education.

Rising per capita income has also improved affordability. It rose by 10.9 per cent and 9.3 per cent, respectively, in FY18 and FY19, and coincided with the decline in prices of large-panel TVs, the added.

Elizabeth Master, associate director, CRISIL Research, said: “The share of large-panel TVs is projected to surpass 50 per cent of overall TV demand by fiscal 2027, with increasing adoption of new avenues of consumption, such as and affordable new launches.” The pandemic has changed family viewing habits and the rise in fibre-to-the-home services will further improve broadband services, aiding adoption of larger panel TVs, she added.

Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Mon, September 19 2022. 19:01 IST