It has been predicted that demand for safety and security systems in Thailand is expected to grow over the next three years, driven by the fear of unrest. The value of safety and security systems in Thailand is set to grow by between 10% and 20% in 2008 to between 11 billion and 12 billion baht, from the 10 billion baht spent in 2007.
The safety devices market has been robust ever since the resumption in 2004 of unrest in the three southern border provinces, and the situation is still unpredictable. The bombings in Bangkok on New Year's Eve in 2006 have added to the feelings of insecurity in the country.
The industry in Thailand still has a lot of room to grow. Homeowner demand has grown slowly as the public has become more alert about security. A Building Inspection Law, which came into effect in 2004, has benefited the industry, as the law requires 20,000 buildings in Bangkok and nearby provinces to have their safety systems inspected to ensure the security of residents and workers.
Sanyo (Thailand) Co expects that CCTV and digital video recorders will generate at least 200 million baht for Sanyo this year, double the total reached in 2006. CCTV installations accounted for approximately 70% of all security products sold in Thailand.
The market is becoming more competitive due to an influx of cheaper CCTV products from China and Taiwan. It is expected that lower prices will help increase demand, resulting in the expansion of safety products in homes and businesses.
More than 200 safety and security system providers will be exhibiting at the Thailand Safety Innovation Expo 2007, organised by Apex Event Solutions in Bangkok in late September 2007.
Among the organisations at the event will be manufacturers and inventors of safety innovation and technology; distributors, importers and installers of safety innovation and technology equipment; and trade or professional associations regarding safety management.