Start a business in Thailand – the top developing country in Southeast Asia today.
This September, you can take your first step more easily with the Thai smart device market by:
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- Becoming a distribution partner of the leading smart home brand in Vietnam with 10 years of experience
- Confidently providing comprehensive smart home solutions from lighting, cameras, switches to sensors and smart curtains
- Taking advantage of our available international partner networks
Meet Lumi Vietnam in Bangkok to work with us to plan the most effective business:
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- Date: September 21-22-23, 2022
- Venue: Booth G7-8, Hall 8, IMPACT Exhibition Center, Bangkok, Thailand
1. Why is the smart device business in Thailand a golden opportunity?
The Thai smarthome market has strong growth potential
Statista estimates that the Thai smarthome market in 2022 will have a total revenue of 149.3 million USD, and by 2026, this number will be more than 300 million USD. The average number of smarthome households is 4.6 million homes by 2026. Although the total market revenue is not the leading in Southeast Asia, the Thai smarthome market has the largest compound annual growth rate (CAGR) in the region.
Smart lighting – an essential piece of smarthome: the potential to “shine”
In the smarthome ecosystem, smart lighting is an important system that plays a core role and creates a significant value of a comfortable life of 4.0 technology standard. Smart lighting is a lighting system connected to the internet, an application on a phone to change lighting factors such as light intensity, color temperature, on/off timer and in combination with other devices in the lighting system.
According to a report from Research and Markets, the global smart lighting market is forecast to reach $10.76 billion by 2022 and $27.27 billion by 2027, with a compound annual growth rate of 20.4%. With a growth rate of 22.4% during 2020-2030, Asia is the fastest growing region in the world for the smart lighting industry. This incredible growth is due to low labor costs and the availability of raw materials.
Thailand is the top developed country in the region
Thailand possesses the advantages to turn a population of nearly 70 million people into digital citizens or global citizens. Currently, Thailand is a middle-income country with a high GDP growth rate, ranking 8th in Asia and 2nd in Southeast Asia in particular.
At the same time, the proportion of smartphone users in Thailand is slightly higher than that of Southeast Asia (about 79% of the population in 2022). With the increasing number of smartphones, users will also be more familiar with using applications on their phones connecting with surrounding devices, which is the basis for smarthome to penetrate the market more easily.
Thailand with its dynamism and ability to keep up with the trends promises to be a prosperous destination for technology products such as smarthome or smart lighting.
2. Overcoming barriers, initially exploring the million-dollar market
Thailand is an open environment for anyone who wants to start or expand a new technology product business in Southeast Asia. However, businesses providing smarthome and smart lighting solutions may face many challenges when “entering” this market. Sourcing quality products and building a commercialization process are obvious difficulties.
Why is Lumi your potential partner?
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- 10 years of experience as a leading company in the smarthome industry in Vietnam with a system of 150 distributors nationwide
- High-class products that meet international standards such as CE and Quacert certification, easy construction, quick and professional warranty
- Comprehensive support from technical training, marketing resources, sales
- Strong international sales network, partnerships with India, Cambodia, Korea and Singapore
- Successfully completed smart buildings in Thailand such as Life Asoke Hype – a luxury condominium with 1253 apartments and the Pleno project with 30 townhouses in Bang Yai, Nonthaburi
Don’t miss the opportunity to explore the million-dollar market and increase your income in 2022. Contact now for more valuable information about the Thai smarthome market:
- Phone: (+84) 976796471 – International Sales Director (Mr. David)
- Email: info@lumi.vn
