A television unit is particularly a storage unit used to place the television set. It is an entertainment center that places television as well as other peripherals such as sound systems, DVD player, and game console in a visually appealing manner. It not only helps in minimizing the wires and cables used in the entire entertainment set but also gives a good interior design to the living room. Unlike a TV that has come a long way from its humble beginning and so as the TV stand. From heavy and bulky pieces of furniture, todays TV units has evolved into functional and sleek design to suit every home. The industry has grown to such an extent that specialized company manufacturing TV units are present that can customize TV units as per room design and specifications. Size of the television as well as the room matters a lot before purchasing a TV unit.
The global television unit market is anticipated to grow at an exponential rate in near future. Increase in disposable income globally has resulted in increasing consumer awareness towards adoption of modern lifestyle has been one of the driving factor for the growth of Television unit market. Growing number of middle and upper middle class households coupled with adoption of smart and fashionable living solutions has been the key factor for the increasing demand of TV units. The growing trend of experiencing perfect entertainment system that TV sets, sound systems, home theater etc. increased the demand for TV units. E-commerce platform also played a major role in increasing and popularizing the TV unit trend. It not only helped in increasing consumer awareness about latest living room fashion trends but also helped in providing them with elaborated choice to choose from. However, TV units being costly is still considered to be a luxury product and not a need based product by many individuals across globe which restraints the growth of Television unit market.
The global television unit market can be segmented based on television size, types of television stand, television unit type, material type, distribution channel and region. Based on television size, the television unit market can be segmented into 26-31 inches TVs, 32-49 inches TVs, 50-54 inches TVs, 55-59 inches TVs, 60-64 inches TVs, 65-69 inches TVs, 70+ inches TVs and more. According to television stand types, the television unit market can be segmented into open shelf, console, hutch, cabinets, corner units, floating, and entertainment center etc. Based on television units type, the market can be segmented into standalone low, standalone high, wall mounted, TV cum display and standalone small TV unit. By material type, the television unit market can be segmented into engineered wood, sheesham wood, acacia wood, mango wood, solid wood, leather and many more. By distribution channel, the television unit market can be segmented into online and offline. Online segmented can further be segmented into company owned websites and e-commerce platform. The e-commerce platform can further be sub-segmented into websites such as amazon.com, Alibaba as well as specialty sites that sells home furnishing products such as pepper fry.com, urban ladder etc. The offline mode can be segmented into supermarket & hypermarket and specialty stores etc.
Prominent players operating in the global television unit market include Walker Edison Furniture Company (the U.S.), IKEA (Sweden), Christopher Knight Home (the U.S.), Whalen Furniture Manufacturing (the U.S.), Monarch Specialties (Canada), Convenience Concept (the U.S.), Ameriwood Home (the U.S.), Akshay Furnitures Pvt Ltd. (India), Bluewud Concepts Pvt Ltd. (India) and Ashley Home Stores, Ltd. (India). Players contest with each other with respect to new technological advancements, product designs, etc. in order to attain competitive edge in the market.
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