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Emerging Trends in the Flat Panel Display (FPD) TV Market in India

  • February 2014
  • 36 pages
  • Frost & Sullivan
Report ID: 2043232

Summary

Table of Contents

A Bright Future Beckons the Indian FPD TV Market as Functionalities Make it a More Omnipotent Device

Executive Summary

- The flat panel display (FPD) TV market in India was valued at US $ xx billion in 2012, and is likely to grow at a compound annual growth rate of xx % by 2015.
- Digitization of broadcast, reduced replacement cycles and increased affordability is driving growth in the Indian FPD TV market.
- A key future trend is the transformation of TV into a multifunctional computing and broadcasting medium with many smart features.
- The lack of true ultra-HD content is the key challenge currently faced by Ultra-HD TV, but trends indicate a fast move towards ultra-HD content broadcasting by most premier content developers in India.
- Smart TVs of the future, with their ubiquitous connectivity (be it wireless, GPRS, or 3G), shall be able to receive remote instructions from its user for any device connected to it, in the automated environment in a home, and act as the master control, executing instructions and returning an acknowledgement to the owner’s smartphone.
- Despite the high domestic volumes and opportunities for exports, the possibility of introducing FPD TV manufacturing in India is a distant dream.

A Peek in the Consumer Electronics Market in India

Indian Market is Growing at % Against a Global Average of % Growth
- Indian Consumer Electronics market has been witnessing sustained double digit growth rate in the past few years.
- A robust xx million Indian middle class, with growing disposable incomes, has been instrumental in driving demand of various consumer electronic devices.
- Increasing product awareness, affordable pricing, innovative products and the high disposable incomes have aided in the strong growth, in the consumer electronics market in India.
- Rapidly shrinking replacement cycle for consumer durables is observed as sustaining demand in urban India.
- The existing low penetration rates and the increasing usage of consumer durables has catapulted rural India to the high demand ( xx % annual growth) generating segment.
- The consumer electronics market in India is characterized by technological advancements, innovative product introductions, price fluctuations and intense competition.

Indian Consumer Electronics Market Analysis

- Indigenous capability augmentation in product segments such as FPD TV assembly, set-top box (STB) manufacturing, and other white-goods manufacturing are helping to sustain the growth in TDM revenue.
- FPD TVs have limited value addition in the country as the panels are imported for assembly in India.
- This resulted in the high value add TDM to account for $ xx billion in 2012, while the low and medium-value-add manufacturing generated $ xx billion revenue.

Consumer Electronics Ecosystem

- Given the legacy of indigenous manufacturing of various consumer durables, India today boasts a well-established ecosystem for manufacturing of CRT TVs, refrigerators, washing machines, and DVD players.
- Despite the historic strength in the consumer electronics manufacturing ecosystem, the country has failed to keep pace with the global technological innovations in the consumer electronics market.
- This has resulted in higher levels of imports in products such as the high-end frost-free refrigerators, fully automatic washing machines, blue-ray disc players, imaging products, and set-top boxes.
- Even the basic raw material for LCD TVs—LCD panels—are currently fully imported due to the lack of indigenous panel manufacturing capabilities.
- The rapidly growing FPD TV market has now started attracting investments in indigenous panel manufacturing facilities.
- The government’s digitization drive, which has catapulted demand for set-top boxes, is expected to usher in the necessary ecosystem for indigenous manufacturing in India.

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