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India Consumer Electronics Market
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India Consumer Electronics Market

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India Consumer Electronics Market, By Type (Smartphones, TV, Refrigerators, Washing Machines, Digital Cameras, Air Conditioners); By Price (Premium, Mass); By Distribution Channel (Online, Offline); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: April 2024
  • Report ID: BWC24307
  • Available Format: PDF
  • Page: 200

Report Overview

An increasing level disposable income among growing young and tech-savvy population, further deepening of internet penetration, and the government’s supportive policies are expected to drive the India Consumer Electronics Market during the forecast period between 2024 and 2030.

India Consumer Electronics Market – Industry Trends & Forecast Report, 2030

The India Consumer Electronics Market size was estimated at USD 12.38 billion in 2023. During the forecast period between 2024 and 2030, the India Consumer Electronics Market size is projected to grow at a CAGR of 6.75% reaching a value of USD 30.66 billion by 2030. Prominent drivers of the market include the rising disposable incomes, a burgeoning young population, deepening internet accessibility, heightened demand for advanced computing devices among the workforce, evolving consumer preferences, and technological advancements. This evolving landscape is marked by a swift shift in dynamics, heavily influenced by the quality and affordability of electronic gadgets. As India's economy expands, so does the purchasing power of its populace, reflected in projections indicating substantial GDP and per-capita income growth. With a burgeoning market characterized by heightened consumer awareness and reliance on online reviews, product quality emerges as a pivotal determinant in purchase decisions. Also, the market witnesses a push towards offering value-for-money propositions, balancing competitive pricing with feature-rich offerings. Notably, the integration of emerging technologies like AI, IoT, AR, VR, and advanced personalization further propels market adoption, particularly among the youthful and working demographics.

India Consumer Electronics Market

Consumer Electronics – Overview

Consumer electronics encompass a broad range of electronic devices designed for everyday use in private residences, spanning entertainment, communication, and recreation. The consumer electronics category includes both analog and digital equipment. Its evolution over time has seen the introduction of new devices and the revitalization of older ones.

India Consumer Electronics Market

Growth Drivers

Government’s Supportive Policies

The growth of the consumer electronics market in India is bolstered by supportive government policies and initiatives. Notably, the Production Linked Incentive (PLI) Scheme and the 'Make in India' initiative have attracted global players to invest in the Indian market. Additionally, the government's proposed incentives for local smartphone manufacturers further encourage domestic production and innovations. These policies aim to stimulate growth, increase investments, and foster the rapid adoption of technological advancements in the consumer electronics sector. With such supportive measures in place, the India Consumer Electronics Market is poised for significant expansion and offers promising opportunities for both local and international players during the period in analysis.

Challenges

Limited Access to Reliable Electricity and Internet Connectivity in Rural Areas

The growth of the Consumer Electronics Market in India faces constraints due to limited access to reliable electricity and internet connectivity in rural areas. These infrastructural challenges hinder the further penetration of electronic devices and limit market expansion efforts. Without consistent access to electricity and internet, consumers in rural areas are unable to fully utilize and engage with consumer electronics products, thereby impeding market growth potential. Addressing these infrastructure gaps is crucial for unlocking the untapped market potential in rural India and driving overall market growth in the country.

Impact of Escalating Geopolitical Tensions on India Consumer Electronics Market

Geopolitical tensions can have a multifaceted impact on the India Consumer Electronics Market. Heightened geopolitical instability can disrupt global supply chains, leading to delays in the availability of electronic components and products. Moreover, uncertainties arising from geopolitical conflicts can dampen investor confidence, potentially slowing down investments in the consumer electronics sector. Additionally, trade disputes and sanctions between countries can result in increased tariffs and trade barriers, leading to higher production costs and reduced profitability for manufacturers. Overall, escalating geopolitical tensions introduce significant challenges and uncertainties for the India Consumer Electronics Market, potentially hampering its growth trajectory.

India Consumer Electronics Market

Segmental Coverage

India Consumer Electronics Market – By Type

By type, the India Consumer Electronics Market is divided into Smartphones, TV, Refrigerators, Washing Machines, Digital Cameras, and Air Conditioners segments. The smartphones segment holds the highest share in the India Consumer Electronics Market by type. It can be attributed to the growth of disposable income, expansion of telecom infrastructure, availability of affordable smartphones, and a steady stream of product launches. Furthermore, the demand for high-speed data connectivity, particularly for integrated IoT applications such as energy management and smart home devices, is anticipated to propel the adoption of 5G smartphones. These trends signify a significant shift in consumer preferences and technological advancements, driving the ongoing evolution of the smartphone landscape in India. Meanwhile, the refrigerators segment is expected to witness the fastest growth rate during the forecast period. It is primarily due to rapid urbanization and rising disposable incomes, which have boosted demand. Consumers are opting for newer, more advanced refrigerators, leading to a trend of replacing old appliances. Additionally, retailers are adopting competitive strategies, including partnerships with financial institutions to offer attractive financing options. Such trends are expected to drive market expansion. Furthermore, the industry sees increasing supply, frequent product launches, and government support. Competitive pricing strategies are employed by companies to gain market share, while the penetration of refrigerators into rural areas is notably increasing.

India Consumer Electronics Market – By Price

Based on price, the India Consumer Electronics Market is bifurcated into Premium and Mass segments. The mass segment holds a higher share in the India Consumer Electronics Market and is expected to maintain its dominance in the market by price during the period in analysis. The expanding middle class population and increasing interest in cost-effective devices are driving the segment of the market.

India Consumer Electronics Market Size

India Consumer Electronics Market – By Distribution Channel

Based on distribution channel, the India Consumer Electronics Market is split into Online and Offline segments. The offline segment holds a higher share in the India Consumer Electronics Market by distribution channel. Its growth is primarily driven by the expanding presence of these channels throughout India. Meanwhile, the online segment is expected to witness the fastest growth rate during the forecast period. It can be attributed to the increasing internet accessibility and attractive discounts provided by e-commerce platforms, propelling market expansion in this segment.

India Consumer Electronics Market Share

India Consumer Electronics Market – By Region

Geographically, the India Consumer Electronics Market is divided into North India, South India, East India, and West India regions. North India region holds the highest share in the India Consumer Electronics Market and is expected to maintain its dominance during the forecast period. Major north India states including Uttar Pradesh, Delhi, Punjab, and Haryana, significantly contribute to this region's market growth, with Uttar Pradesh standing out for having the highest number of smartphone users and being one of India's most populous states, ranking as the third largest economy. Meanwhile, the South India region holds the second highest share in the India Consumer Electronics Market. It is driven by increasing disposable incomes in states like Andhra Pradesh, Karnataka, Tamil Nadu, Telangana, and Kerala. Also, West India region is expected to witness the fastest growth rate during the forecast period. It is supported by states like Maharashtra, Gujarat, and Madhya Pradesh. The rising consumption of consumer electronics in major metropolitan areas such as Mumbai, Ahmedabad, Pune, Nagpur, Surat, Indore, and Bhopal is fueling the region's market growth.

Competitive Landscape

Major players operating in India Consumer Electronics Market include Samsung Electronics Co. Ltd, LG Electronics Inc., Godrej Appliances, Sony Corporation, Dell, Mitsubishi Electric Corporation, Panasonic Corporation, Haier Consumer Electronics Group, Bajaj Electricals Ltd, Hitachi Ltd, Toshiba Corporation, Whirlpool Corporation, Microsoft, Apple Inc., and Philips. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In January 2023 - Samsung launched its new 2023 Side-by-Side Refrigerator Range, manufactured solely in India and equipped with features tailored to suit the needs of Indian consumers.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2030

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Billion 

Market Coverage

India 

Product/ Service Segmentation

Type, Price, Distribution Channel, Region

Key Players

Samsung Electronics Co. Ltd, LG Electronics Inc., Godrej Appliances, Sony Corporation, Dell, Mitsubishi Electric Corporation, Panasonic Corporation, Haier Consumer Electronics Group, Bajaj Electricals Ltd, Hitachi Ltd, Toshiba Corporation, Whirlpool Corporation, Microsoft, Apple Inc., Philips

 

By Type

  • Smartphones

  • TV

  • Refrigerators

  • Washing Machines

  • Digital Cameras

  • Air Conditioners

By Price

  • Premium

  • Mass

By Distribution Channel

  • Online

  • Offline

By Region

  • North India

  • South India

  • East India

  • West India

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. India Consumer Electronics Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Soaring disposable income
        2. Youthful and tech-savvy population
        3. Growing internet penetration
        4. Supportive government policies
      2. Restraints
        1. Limited access to reliable electricity and internet connectivity in rural areas
        2. Component shortages lead to price fluctuations for electronics.
        3. Presence of fake electronics undermines
      3. Opportunities
        1. Growing demand for smart TVs, connected appliances, and wearables
        2. Government initiatives promoting local manufacturing
        3. Growth and expansion of e-commerce
      4. Challenges
        1. Stringent data privacy regulations
        2. Growing volume of electronic waste
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. India Consumer Electronics Market: Pricing Analysis
  5. India Consumer Electronics Market: Marketing Strategies
  6. India Consumer Electronics Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
        1. Smartphones
        2. TV
        3. Refrigerators
        4. Washing Machines
        5. Digital Cameras
        6. Air Conditioners
        7. Others
      2. By Price
        1. Premium
        2. Mass
      3. By Distribution Channel
        1. Online
        2. Offline
      4. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  7. North India Consumer Electronics Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Price
      3. By Distribution Channel
  8. South India Consumer Electronics Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Price
      3. By Distribution Channel
  9. East India Consumer Electronics Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Price
      3. By Distribution Channel
  10. West India Consumer Electronics Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Price
      3. By Distribution Channel
  11. India Consumer Electronics Market: Import & Export
  12. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Consumer Electronics Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operation Channel Parameters
    4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
  13. Impact of Escalating Geopolitical Tensions on India Consumer Electronics Market
  14. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Samsung Electronics Co. Ltd
    2. LG Electronics Inc.
    3. Godrej Appliances
    4. Sony Corporation
    5. Dell
    6. Mitsubishi Electric Corporation
    7. Panasonic Corporation
    8. Haier Consumer Electronics Group
    9. Bajaj Electricals Ltd
    10. Hitachi Ltd
    11. Toshiba Corporation
    12. Whirlpool Corporation
    13. Microsoft
    14. Apple Inc.
    15. Philips
    16. Other Prominent Players
  15. Key Strategic Recommendations
  16. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation

 

*Financial information of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figures

 

Figure 1       India Consumer Electronics Market Segmentation

Figure 2       India Consumer Electronics Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       India Consumer Electronics Market Size, By Value (USD Billion), 2019–2030

Figure 5       India Consumer Electronics Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 6       India Consumer Electronics Market Share, By Price, By Value (USD Billion) 2019–2030

Figure 7       India Consumer Electronics Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 8       India Consumer Electronics Market Share, By Region, By Value (USD Billion) 2019–2030

Figure 9       North India Consumer Electronics Market Size, By Value (USD Billion), 2019–2030

Figure 10     North India Consumer Electronics Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 11     North India Consumer Electronics Market Share, By Price, By Value (USD Billion) 2019–2030

Figure 12     North India Consumer Electronics Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 13     South India Consumer Electronics Market Size, By Value (USD Billion), 2019–2030

Figure 14     South India Consumer Electronics Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 15     South India Consumer Electronics Market Share, By Price, By Value (USD Billion) 2019–2030

Figure 16     South India Consumer Electronics Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 17     East India Consumer Electronics Market Size, By Value (USD Billion), 2019–2030

Figure 18     East India Consumer Electronics Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 19     East India Consumer Electronics Market Share, By Price, By Value (USD Billion) 2019–2030

Figure 20     East India Consumer Electronics Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 21     West India Consumer Electronics Market Size, By Value (USD Billion), 2019–2030

Figure 22     West India Consumer Electronics Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 23     West India Consumer Electronics Market Share, By Price, By Value (USD Billion) 2019–2030

Figure 24     West India Consumer Electronics Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

 

List of Tables      

Table 1        India Consumer Electronics Market Size, By Value (USD Billion), 2019–2030

Table 2        India Consumer Electronics Market Share, By Type, By Value (USD Billion) 2019–2030

Table 3        India Consumer Electronics Market Share, By Price, By Value (USD Billion) 2019–2030

Table 4        India Consumer Electronics Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 5        India Consumer Electronics Market Share, By Region, By Value (USD Billion) 2019–2030

Table 6        North India Consumer Electronics Market Size, By Value (USD Billion), 2019–2030

Table 7        North India Consumer Electronics Market Share, By Type, By Value (USD Billion) 2019–2030

Table 8        North India Consumer Electronics Market Share, By Price, By Value (USD Billion) 2019–2030

Table 9        North India Consumer Electronics Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 10      South India Consumer Electronics Market Size, By Value (USD Billion), 2019–2030

Table 11      South India Consumer Electronics Market Share, By Type, By Value (USD Billion) 2019–2030

Table 12      South India Consumer Electronics Market Share, By Price, By Value (USD Billion) 2019–2030

Table 13      South India Consumer Electronics Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 14      East India Consumer Electronics Market Size, By Value (USD Billion), 2019–2030

Table 15      East India Consumer Electronics Market Share, By Type, By Value (USD Billion) 2019–2030

Table 16      East India Consumer Electronics Market Share, By Price, By Value (USD Billion) 2019–2030

Table 17      East India Consumer Electronics Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 18      West India Consumer Electronics Market Size, By Value (USD Billion), 2019–2030

Table 19      West India Consumer Electronics Market Share, By Type, By Value (USD Billion) 2019–2030

Table 20      West India Consumer Electronics Market Share, By Price, By Value (USD Billion) 2019–2030

Table 21      West India Consumer Electronics Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 22      Samsung Electronics Co. Ltd Company Overview

Table 23      Samsung Electronics Co. Ltd Financial Overview

Table 24      LG Electronics Inc. Company Overview

Table 25      LG Electronics Inc. Financial Overview

Table 26      Godrej Appliances Company Overview

Table 27      Godrej Appliances Financial Overview

Table 28      Sony Corporation Company Overview

Table 29      Sony Corporation Financial Overview

Table 30      Dell Company Overview

Table 31      Dell Financial Overview

Table 32      Mitsubishi Electric Corporation Company Overview

Table 33      Mitsubishi Electric Corporation Financial Overview

Table 34      Panasonic Corporation Company Overview

Table 35      Panasonic Corporation Financial Overview

Table 36      Haier Consumer Electronics Group Company Overview

Table 37      Haier Consumer Electronics Group Financial Overview

Table 38      Bajaj Electricals Ltd Company Overview

Table 39      Bajaj Electricals Ltd Financial Overview

Table 40      Hitachi Ltd Company Overview

Table 41      Hitachi Ltd Financial Overview

Table 42      Toshiba Corporation Company Overview

Table 43      Toshiba Corporation Financial Overview

Table 44      Whirlpool Corporation Company Overview

Table 45      Whirlpool Corporation Financial Overview

Table 46      Microsoft Company Overview

Table 47      Microsoft Financial Overview

Table 48      Apple Inc. Company Overview

Table 49      Apple Inc. Financial Overview

Table 50      Philips Company Overview

Table 51      Philips Financial Overview

Market Segmentation

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No data available

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Frequently Asked Questions (FAQs):

Ans: The India Consumer Electronics Market size by value was estimated at USD 12.38 billion in 2023.
Ans: The India Consumer Electronics Market by value is expected to grow at a CAGR of 6.75% during the forecast period between 2024 and 2030.
Ans: The India Consumer Electronics Market size is forecast to reach a value of USD 30.66 billion by 2030.
Ans: The growth of the India Consumer Electronics Market is primarily driven by an increasing disposable income, growing young and tech-savvy population, deepening internet penetration, and supportive government policies.
Ans: Key players in India Consumer Electronics Market include Samsung Electronics Co. Ltd, LG Electronics Inc., Godrej Appliances, Sony Corporation, Dell, Mitsubishi Electric Corporation, Panasonic Corporation, Haier Consumer Electronics Group, Bajaj Electricals Ltd, Hitachi Ltd, Toshiba Corporation, Whirlpool Corporation, Microsoft, Apple Inc., and Philips.
Ans: The smartphones segment holds a major share in the India Consumer Electronics Market by type.
Ans: The mass segment is expected to grow at a higher CAGR in the India Consumer Electronics Market during the forecast period between 2024 and 2030.
Ans: The offline segment holds a major share in the India Consumer Electronics Market by material type.
Ans: North India is expected to grow at the fastest CAGR in the India Consumer Electronics Market during the forecast period between 2024 and 2030.