The security business in Thailand has experienced steady growth, thanks largely to ongoing demand from public and private sector customers. The recent relocations of public agencies to a new government center and completions of residential projects, e.g., condominiums and townhouses, as well as office buildings and factories in industrial estates, have contributed to security business growth. Amid increased crime, demand for anti-theft devices has been on the rise, too, as we all feel insecure about physical safety and security of our property. In addition, the market for security devices is now a buyers' market because of lower prices.
In 2010, security business will continue to enjoy healthy growth due to rising awareness of the need for security that has arisen in the wake of recent civil disorder in Greater Bangkok, as well as in some provinces upcountry, not to mention the relentless unrest in southern Thailand.
Thailand is Southeast Asia's largest safety and security market, followed by Malaysia, Singapore and Indonesia. Private security business in the Southeast Asian region has recorded substantial growth each year. The market turnover in the Southeast Asian security business is estimated to top USD3 billion in 2016, representing growth of 7.5 percent annually[1].
The security business will continue to gain substantially in the Thai market. Both public and private agencies have been commissioning private security firms, rather than relying on their own in-house security programs, thanks to the cost effectiveness and higher performance of professional security companies. Using outsourced security companies helps reduce personnel-related expenses over the long-term.
Looking ahead over the next five years, security in Thailand is expected to rely more on advanced security devices and less on security guards. The ratio of expenditures for security guards versus that spent on security equipment by Thai organizations is estimated to stand at 60:40, close to the ratio in other countries, whereas the current ratio is 80:20[2].
The recent membership of China - the world's largest security equipment producer that are also Thailand's main source of security equipment - in the Asian Professional Security Association has resulted in more activity and exchanges of advanced security-related technology. The move is expected to be a boon to the Thai security equipment market.
[1]Asian Professional Security Association (APSA)
[2] Asian Professional Security Association
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