Maser Group CEO on smart tv market outlook, unicorn status

The Smart TV market industry is projected to grow at a compound annual growth rate of 16.3 per cent between 2022 and 2023, according to industry experts. The market, currently valued at $178 billion in 2022, is expected to soar to $511.7 billion by 2030. Amidst this substantial growth trajectory, companies like Maser Group are thriving and capitalizing on the expanding market. Maser Group's CEO, Prateek Suri, recently sat down with CNBC Africa to shed light on the company's success and future plans. Suri emphasized the company's focus on revenue growth and customer service, highlighting their decision to opt for venture debt over equity funding to fuel their expansion in Africa. Despite boasting a revenue of over $600 million, Maser Group recently achieved a valuation of $1.9 billion, a figure Suri believes should be higher. However, he stresses that their primary focus lies in enhancing revenues, which are currently skyrocketing by 200% to 300% year on year. Although attracting significant investor interest, Maser Group is currently hesitant to dilute equity. The company's strategic move to raise venture debt of $150 million will facilitate its expansion into untapped markets across the African continent. Suri highlighted the importance of meticulous service planning before venturing into new territories, emphasizing the company's commitment to customer satisfaction. With plans to invest in service sectors and establish assembly units in key African markets, Maser Group aims to solidify its presence and meet the region's manufacturing regulations. Looking ahead, Suri is optimistic about Africa's potential as a hub for tech startups, stressing the need for government support to attract venture investments. He believes that with the right fiscal and non-fiscal benefits, Africa can emerge as a thriving destination for investors, catalyzing the growth of unicorns in the region in the coming years. Addressing the booming market for smart TVs, Suri underscored the pivotal role of these devices in modern households. With a surge in demand post-COVID, fueled by the shift towards OTT platforms, the smart TV sector continues to witness robust growth globally. As a key player in the smart TV ecosystem, Maser Group is poised to capitalize on this trend, particularly in Africa and the Middle East. By supplying raw material panels to a significant portion of the African market, the company anticipates a continued rise in demand exceeding 200% year on year. Suri remains confident in the enduring appeal of smart TVs and the company's strategic position in driving growth in the sector.