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CCTV market sees boom as fears rise


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Extracted from the Bangkok Post: Bangkok Post




The market for closed-circuit televisions in Thailand is now experiencing a boom, with a large number of both government agencies and private firms spending eagerly on advanced security devices in the wake of increasing terrorism threats.


The security-device segment was revised up to grow 40% this year, from 30% earlier estimated, with a market worth of up to four billion baht.


Security systems range from simple closed-circuit television networks and recording systems to intricate alarm networks, motion sensors and electronic locks. The Thai Chamber of Commerce and the Federation of Thai Industries last week agreed to co-ordinate efforts to encourage members to strengthen their security systems and educate their staff about the importance of security awareness.


Sommai Damnoenkiat, managing director of Vision and Security Systems Co, a subsidiary of Samart Corporation, said the local closed-circuit televisions market was estimated to see significant growth following the New Year's Eve bombings and steady spate of killings in the southernmost provinces.


"Growing concerns about terrorism in the capital have only added to the rapid growth of the security market, with soaring demand in a matter of days," he said.


Mr Sommai said his company recently received two contracts from the government worth a combined 180 million baht, plus a large number of small and medium-sized enterprises demanding closed-circuit TV units priced from 50,000 to 100,000 baht each.


Among its clients are the Defence Department, the Royal Thai Police, Suvarnabhumi Airport and the Royal Flora Ratchaphruek 2006.


Even with a sudden increase in demand for the security device, he said competition in the market was less due to a shortfall of products available.


"This should be a Golden Time for suppliers, with plenty of stocks in hand, to capitalise on the demand," he said.


Mr Sommai said his company had some stock of closed-circuit TVs in hand now for the low- to mid-tier market, worth three million baht. It would serve enough for prospective small and medium-sized customers within the next two to three months.


For government projects, suppliers have enough time to place orders after securing a contract.


Mr Sommai said Vision and Security Systems projected revenue of 600 million baht this year, 60% of which would come from state organisations.


"We aim to realise revenue of 800 million baht in 2008 and 1.2 billion baht in 2009," he said.


The local security market was projected to grow by 30% annually, fuelled by demand for advanced security devices to address the mounting concerns about terrorism, he said.

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