Taiwanese technology leader BenQ has unveiled a bold roadmap to double its India revenues and touch Rs. 2,000 crore by 2028, propelled by surging demand in the home entertainment segment, increasing digital penetration in education, and a strategic foray into healthcare technology. The company aims to sustain a 30% CAGR over the next few years by focusing on home projectors, interactive flat panels, and monitors. In line with India’s manufacturing ambitions, BenQ is also ramping up local production and contemplating its own manufacturing facility. With India emerging as BenQ’s third-largest global market, the company sees vast untapped potential across both B2B and B2C verticals.
India Emerges as a Strategic Growth Hub for BenQ
BenQ, a globally renowned display technology firm with operations in nearly 30 countries, is intensifying its focus on India—its third-largest market after China and the U.S. The company’s India and South Asia Managing Director, Rajeev Singh, outlined a plan to double revenues to Rs. 2,000 crore by 2028, emphasizing India’s transformative role in the company’s global strategy.
This target hinges on BenQ maintaining a 30% year-on-year growth rate, translating to a doubling of revenue every three years. The company expects to close the 2024 calendar year with Rs. 1,000 crore in turnover, bolstered by robust demand in the home entertainment, education technology, and professional display segments.
Home Cinema Revolution: OTT Drives Projector Sales Boom
Central to BenQ’s India strategy is the booming home projector market, which is witnessing nearly 25% annual growth. With the rapid rise of OTT platforms and shifting entertainment habits post-pandemic, Indian consumers are increasingly investing in home cinema experiences. BenQ is capitalizing on this trend, launching new projector models such as the W5850 and W4100i to cater to a more discerning and digitally savvy audience.
“Content consumption has fundamentally changed,” said Singh. “Consumers now prefer enjoying cinematic experiences from the comfort of their homes, which has created a strong pull for our home cinema solutions.” The company is targeting a 50% market share in this segment by the end of 2024, solidifying its leadership.
Education Sector and B2B Innovation Powering Growth
BenQ’s success in India also rides on its dominance in the interactive flat panel segment, especially in educational institutions transitioning to digital classrooms. These panels, manufactured locally through third-party contracts, have become essential tools in both public and private sector education infrastructure.
BenQ’s B2B product line—comprising interactive displays and data projectors—accounts for 50% of its India revenues, while the remaining half is generated from its B2C offerings like home projectors and computer monitors.
Localization and Manufacturing: A Make-in-India Push
BenQ is embracing local manufacturing to align with India's push for self-reliance in electronics. While it currently leverages contract manufacturing for its interactive flat panels and projectors, the company is evaluating the establishment of its own manufacturing plant in India.
“We were among the first in our category to initiate local production,” Singh emphasized. “In the future, we may explore setting up a dedicated facility to meet rising demand and improve supply chain efficiency.”
Expanding into Healthcare: Precision Tech for Indian Hospitals
Beyond display technology, BenQ is actively exploring growth in the medical electronics space—a vertical where the parent group already operates globally. With offerings such as portable ultrasound machines, surgical monitors, OT lighting systems, and operation beds, BenQ intends to scale its healthcare footprint in India.
The company currently operates in this sector through distributor partnerships but is considering direct entry to capture the significant opportunity presented by India’s growing hospital infrastructure and demand for high-precision medical technology.
Long-Term Vision: Broadening Horizons in a Promising Market
BenQ’s India expansion plan is not confined to displays or healthcare alone. Singh noted that the company sees many untapped business segments and expects the broader BenQ Group—valued at USD 25 billion—to progressively introduce more verticals into the Indian market.
“India is not only promising in scale but also in the diversity of opportunities,” Singh said, pointing to the group’s readiness to invest in sectors with long-term relevance and growth potential.
Conclusion: India at the Heart of BenQ’s Global Ambitions
BenQ’s blueprint for India underscores the country’s strategic importance in the evolving global technology landscape. With aggressive growth targets, a diversified product mix, and strong alignment with local manufacturing and digital consumption trends, the company is positioning itself for long-term dominance. Whether through immersive home entertainment systems or advanced healthcare technologies, BenQ is betting big on India—not just as a market, but as a springboard for global innovation and leadership.
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