What was once known as an idiot box has now travelled a long way to become smart and Internet-enabled device after several path-breaking innovations. Over the past decade, transformation via revolutionary technological advancements has changed the way people perceive television and also invest in what they watch. These continual improvements have created an immensely immersive medium that facilitates consumers to connect socially and emotionally, thus bringing people together through technology. The rapid evolution in the television industry is indicative of an elevated desire amongst consumers to have further technologically advanced devices in their homes.
As consumers are becoming tech-savvy, televisions have also adopted this trend in multiple ways; for instance, broadcast has shifted from analog to digital, paving the way to producing crystal-clear pictures, uninterrupted sound, and ability to broadcast multitude of channels. TV screens today provide extra sharpness to viewers with elevated picture quality, ensuring an enhanced viewing experience for the audience. Further, with the help of superior processors now built into televisions, TV-watching experience is all the more real than ever before. Consumers are spoilt for choice in the market when they plan to replace, upgrade, or buy a new television. Today the number of options in the market have increased considerably ranging from LEDs, smart TVs, 3D TVs, OLEDs and QLEDs, and many more. It depends on the consumer to choose any one of them subject to their requirements and budget.
Flat panel televisions have undoubtedly revolutionized one of the most popular leisure engagements, i.e., TV viewing and have revised the couch potato conception into an interactive experience that has taken the market by storm. Acting as a digital bridge between the demanding consumer and the creative brains responsible for such creations, flat panel televisions have fulfilled all the wishes of a consumer living in this age of constant innovations and subjected us to a holistic experience ranging from virtual reality to artificial intelligence. India’s flat panel television industry has tapped into the market in a very meticulous way by analyzing consumer purchasing patterns and, therefore, introducing adaptable technologies. Flat panel televisions were initially elitist luxury exercised only by the privileged sections of society, but progressively through technological advancements and increasing disposable income, it is now present in almost every household.
Today companies across the globe are introducing products which resonate with the Indian economic prowess and best suit the needs and requirements of an average Indian consumer. Flat panel television has become a significant aspect of Indian households, demonstrating its penetration in Tier-III cities too. The LED and OLED television market in India is expected to grow at an estimated CAGR of 40 percent by FY2019 according to a credible source published by Ken Research, which also states that the future growth of LED television market is expected to be led by the sales of 32-inch LED televisions. Due to the growing prominence and varying usage of flat panel televisions, this industry is noticing growing popularity in the education sector where flat panel televisions are being adopted for changing the stereotypical Indian education system based upon the ideals of rote learning into a more practical form of teaching, which makes the whole experience more comprehensive and enjoyable.
Moreover, the usage of flat panel display is not limited only to personal and household usage today but it is also being used in many other sectors such as hospitality, medical, education, etc. For instance, the usage of FPDs in smart classes is increasing with every passing day; out of around 1.4 million schools in India, the addressable market for smart class is about 200,000 private unaided schools. Similarly, FPDs are today also used in malls, restaurants, and many such other places to display various things for the convenience of the consumers.
Looking at all these trends, flat panel television has gained tremendous prominence in the market and is expected to grow further by leaps and bounds in the near future.