BANGKOK, NNA - Japan's Panasonic Corp. expects its security camera sales in Thailand to grow 12 percent and its market share to rise from the current 10 percent to 12 percent this year by capitalizing on growing demand in the Southeast Asian country.
Panasonic Siew Sales (Thailand) Co. predicts that Thailand's 3.5 billion baht ($99 million) surveillance camera market will reach almost 4 billion baht this year, as many Thais are more concerned about their safety, according to Ranee Sitthikaew, group manager of security solutions at the distribution arm of the giant Japanese electronics maker.
She says such safety concerns are making closed circuit television (CCTV) cameras a necessary tool for many parties in the country as demand for low-end security cameras for the mass market has surged by up to 30 percent, while the growth of high-end security cameras for corporate customers has been flat for the last two to three years.
Panasonic projects that sales of security solution products will total about 500 million baht in fiscal 2017, up 12 percent from the previous fiscal year. In a bid to maintain corporate customers, Panasonic is aiming to seek new target groups rather than focusing only on condominiums, hotels, department stores and office buildings.
The Japanese company is initiating a campaign for a five-year guarantee for its high-end security camera lineup in Thailand, as compared with a three-year guarantee offered by rival companies, in an attempt to boost its market share to 12 percent. Ranee says Panasonic is already offering the five-year guarantee in Japan, the United States, Australia and New Zealand.
Panasonic says it will also take advantage of its network of electric appliance shops in Thailand to promote low-end surveillance cameras to ordinary homeowners, small business firms and mini-store operators. (NNA/Kyodo)