Asia Pacific Television Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

Asia Pacific Television Market Growth

The rising prevalence of streaming platforms such as Amazon Prime, Viki, Pooq, and Hotstar, among others, the availability of LED and LCD TVs at affordable pricing, and the growing demand for large-screen TVs are some of the prominent drivers boosting the demand of Asia Pacific television market. Several Asian customers are showing a preference for TV sizes above 55 inches to create an immersive environment and improve the viewing experience.

The proliferation of the internet and the rise of the e-commerce sector have facilitated the online sales of TV as a large number of online retailers offer a broad range of brands, features, and price ranges to customers. Online channel maintains their position as the top three distribution channels in the region, along with traditional trade and supermarkets, offering ample opportunities for TV sales.

Key Trends and Recent Developments

Integration of smart AI features, high expenditure on consumer electronic goods, growing hospitality industry, and economical OTT subscriptions for home devices are accelerating the overall Asia Pacific television market value.

April 2024

Samsung, a leading television manufacturer in Asia, announced the launch of its new series of AI televisions, which included Neo QLED 8K, Neo QLED 4K and OLED TVs in Bengaluru, India. These models featured enhanced integrated AI features such as AI picture technology, upscaling technology, sound technology, motion enhancer, auto game mode, and efficient energy consumption mode.

January 2024

TCL Electronics, one of the largest TV brands in the Asia Pacific region, announced the release of the world’s largest QD-Mini LED TV, 115" X955 in Australia and New Zealand. Its length extended up to three metres diagonally with 20,000 local dimming zones and 5,000 nits peak brightness zones. Moreover, the LED TV also featured advanced backlight and processing technologies, becoming world’s first to be certified by TUV Rheinland for Realistic Visual Experience.

January 2024

Hisense Australia launched its 2024 Mini-LED TV range at CES 2024, offering improved brightness and clarity. The new models in the range, including the flagship UXAU, featured sizes up to 110 inches, QLED Quantum Dot, Dolby Vision IQ, IMAX Enhanced Certification, and a solar-powered remote control. The televisions also showcased enhanced gaming and audio capabilities.

October 2021

Foxtel Australia announced its plans to sell smart TVs globally under a deal with Comscat-owned Sky by late 2023. The deal ensured the introduction of Sky Glass televisions with 4K resolution that integrated Foxtel's streaming services, Binge and Kayo Sports.

Adoption of Smart TVs Leading to an Overall Growth in the Asia Pacific Television Market Revenue

With growing technological advancements in the Asia-Pacific region, the adoption of smart televisions with integrated AI features has become rampant. Key market players are increasingly investing in this domain, eyeing future growth and stability. For instance, Samsung, a leading television supplier in the region, unveiled its new AI TV range in major countries like India, Australia, and New Zealand in the year 2024.

Rising Disposable Income Driving the Preference for High-Quality Television Products

According to the US Energy Information Administration (EIA), the disposable income in the region, which amounted to USD 8,187 in 2022 is projected to grow by 3.1% up to 2050. The rising disposable incomes along with high expenditure on consumer electronic goods is expected to surge the demand for high-end, smart and high-definition television models.

Growing Hospitality Sector Creating New Opportunities for Asia Pacific Television Industry

The expanding hospitality industry is another key driver for the growth of the Asia Pacific television market. Hotels, resorts, and Airbnb apartments are increasingly investing in premium television sets, particularly smart TVs, to enhance guest experiences. According to the UN Tourism, the region registered a recovery in tourist visits by 82% since the pre-pandemic levels during the first quarter of 2024. As the trend further continues, the demand for televisions in the hospitality industry is expected to witness a sharp growth.

Economical OTT Subscriptions on Home Devices Influencing Television Consumption in Asia Pacific

Leading OTT platforms such as Netflix, Amazon, and Disney+ Hotstar are providing economical packages to live stream their services on televisions. This coupled with the urge for watching shows on large screens has further increased the demand for smart televisions, thereby increasing their overall consumption in the Asia Pacific television market.

Asia Pacific Television Industry Segmentation

“Asia Pacific Television Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Smart TV 
• LCD, Plasma, and LED TVs 
• Cathode-Ray Tube (CRT) and Rear-Projection TVs 

Market Breakup by Distribution Channel

• Offline
• Online

Market Breakup by Country

• China
• Japan
• India
• ASEAN
• Australia
• Others

Asia Pacific Television Market Share

Based on type, the market is divided into smart TV, LCD, plasma, and LED TVs, and cathode-ray tube (CRT) and rear-projection TVs. Smart TVs account for a substantial market share as they offer the provision of internet connectivity, on-demand streaming, as well as access to OTT applications and platforms. It can also allow users to browse through YouTube, listen to music, access the web, scroll through social media, and even sync with other smart devices such as Amazon Alexa and Google Nest.

Leading Companies in the Asia Pacific Television Market

The market players are readily launching TVs with sophisticated features and affordable pricing to gain a competitive edge in the market.

• Samsung Electronics Co., Ltd.
• LG Corp.
• Panasonic Holdings Corp.
• Sony Group Corp.
• Toshiba Corporation
• Hisense International Co., Ltd.
• Haier Smart Home Co. Ltd.
• KONKA Group Co. Ltd.
• Sansui Electric Co., Ltd.
• Vizio Holding Corp.
• Hon. Hai Precision Industry Co., Ltd. (Sharp Corp.)
• Micromax Informatics Ltd.
• Others