India offers a great market to anyone who decides to do business here. Single country multiple markets is what makes the India market entry so interesting.
A brand's decision to do business in a particular industry is generally pre-decided by its origins. In that industry, the choice of product segments depends on the market situation and the brand's mission and vision. One criterion to decide market entry depends on the current level of competition in the product market.
The Consumer Electronics market in India is a thriving market. Brands, trade partners, and consumers have all gotten benefit from it over time.
In the last few years, Consumer Electronics brands have started to enter new product segments to expand their business. For instance, Air-Conditioning brand Voltas has entered Washing Machine and Refrigerator segments under the Voltas-Beko umbrella. Xiaomi entered the Television product market. Havells acquired Lloyd to enter the Air-Conditioner market.
It changed the competitiveness of various product markets in the Consumer Electronics Industry. The graph below provides the level of competition in the Consumer Electronics product market in 2021. The higher the number of companies contributing to 90% of the market value, the higher the competitive intensity in the product market.