India Smart TV Streaming Device Market to Grow with a CAGR of 13.11% through 2030F
The India smart TV streaming
device market is witnessing growth by the rising demand for OTT platforms and
the increasing penetration of broadband connection which are significantly
influencing the market during the forecast period.
According
to TechSci Research report, “India Smart TV Streaming Device Market – By Region, Competition, Forecast & Opportunities, 2020-2030F”, The India Smart TV Streaming Device
Market was valued at USD 351.62 Billion in 2024 and is expected to reach USD
733.82 Billion by 2030 with a CAGR of 13.11% during the forecast period.
The India Smart TV Streaming Device Market has witnessed significant growth in
recent years, driven by a combination of factors such as increasing internet
penetration, the rapid adoption of over-the-top (OTT) content, and the growing
demand for smart home technologies. As the country experiences a digital
transformation, more consumers are moving away from traditional cable and
satellite TV subscriptions in favor of streaming services, which has led to a
surge in the demand for smart TV streaming devices like TV sticks, boxes, and
smart TVs. These devices provide easy access to a variety of OTT platforms,
offering content on demand, including movies, TV shows, music, and sports,
which is reshaping the entertainment consumption landscape in India.
India's growing preference for on-demand
and high-quality digital content has led to an increased adoption of devices
that can stream content seamlessly, and with the convenience of internet-based
services. Streaming devices such as Amazon Fire Stick, Google Chromecast, and
Xiaomi’s Mi TV Stick have become widely popular due to their affordability and
ease of use. These devices cater to consumers who want to convert their
existing TVs into smart TVs without making a large investment in a new smart TV
set. With more OTT platforms emerging and expanding their presence in India,
the smart TV streaming device market is expected to continue its robust growth
trajectory.
India has experienced significant
improvements in internet connectivity over the past decade, with the rise of
affordable data plans and the widespread availability of high-speed 4G
services. As of 2024, India is home to approximately 750 million internet
users, and this figure continues to grow with the ongoing rollout of 5G
networks. As internet speeds improve, more consumers are able to stream
high-definition and 4K content, driving demand for devices that support such
formats. Another important driver is the rapid growth of the OTT content
ecosystem. Platforms such as Netflix, Amazon Prime Video, Disney+ Hotstar, Sony
LIV, and others are experiencing exponential growth in India, offering a wide
range of content tailored to the preferences of Indian consumers. The shift
from linear TV to on-demand streaming services has fueled the demand for smart
TV streaming devices. These devices offer users the ability to access a wide
variety of content, from international blockbusters to regional and local
shows, making them more appealing to a diverse audience. Moreover, the affordability
of smart TV streaming devices has played a pivotal role in their adoption.
Devices like the Amazon Fire Stick and Google Chromecast are priced
attractively, making them accessible even to price-sensitive consumers in tier
2 and tier 3 cities. These affordable devices allow users to convert their
non-smart televisions into smart devices capable of streaming content, which
has significantly contributed to the expansion of the market.
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"India Smart TV Streaming Device Market”
The India Smart
TV Streaming Device Market is segmented into device type, video support, sales channel and
region.
Based
on sales
channel, online
sales channel is the fastest-growing segment in the India Smart TV Streaming
Device Market. With the rise of e-commerce platforms like Amazon, Flipkart, and
others, consumers are increasingly purchasing streaming devices online due to
the convenience, competitive pricing, and availability of discounts. Online
channels offer a wide variety of devices, from budget-friendly options to
premium models, with detailed product information and customer reviews that
influence purchasing decisions. The ease of home delivery and the growing
preference for digital shopping, especially in urban and semi-urban areas, have
significantly contributed to the rapid growth of online sales.
Based
on region, West region of India is the fastest-growing segment in the India
Smart TV Streaming Device Market. This growth is driven by increasing
urbanization, improved internet connectivity, and rising disposable incomes in
cities like Mumbai, Pune, and Ahmedabad. As consumers in this region become
more tech-savvy and demand better entertainment experiences, the adoption of
smart TV streaming devices has surged. The West region also has a large
concentration of young professionals and a thriving entertainment culture,
further boosting the demand for streaming devices. E-commerce growth and the
availability of affordable devices have also contributed to the region's rapid
growth.
Major companies
operating in India Smart TV Streaming Device Market are:
- Amazon
Retail India Private Limited
- Apple India Private Limited
- Bharti Airtel Limited
- Xiaomi Technology India Private Limited
- Realme Mobile Telecommunications (India)
Private Limited
- Tata Play Limited
- Google India Private Limited
- CloudWalker Streaming Technologies Pvt.
Ltd.
- Motorola Mobility India Pvt. Ltd.
- Roku Inc.
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“The India Smart TV Streaming Device
Market is poised for significant growth, driven by key factors such as
increased internet access, the growing popularity of OTT content, and the
demand for affordable, user-friendly devices. The market presents numerous opportunities
for both global and local players, and it is expected to remain one of the most
dynamic and competitive segments of the Indian consumer electronics industry. Moreover,
as OTT platforms expand their content libraries and offer more region-specific
content, the appeal of smart TV streaming devices will increase. The market is
also likely to witness further innovation, with the introduction of new
features such as AI-driven content recommendations, voice search, and improved
streaming quality.” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based management consulting firm.
“India Smart TV Streaming
Device Market, By Device Type (Corporate Gifting, Personal Gifting), By Video
Support (Souvenirs, Personal Accessories, Decorative Items, Greeting Cards,
E-Gift Vouchers, Others), By Sales Channel (Local
Shops, Exclusive Outlets, Multi Branded Shops, Online, Others), By Region,
Competition Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential
of India Smart TV Streaming Device Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and opportunities
in the India Smart TV Streaming Device Market.
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