Promising Destination: Thailand is the world’s 51st largest country by area, 20th largest country by population and the 32nd largest country in the world by economic size.
Open Market Economy: Thailand boasts of a strong open market economy and has emerged as one of the fastest growing countries in ASEAN region.
Hub of ASEAN: Thailand has the potential to be the regional logistic hub due to its strategic location in ASEAN region and easy access to the Greater Mekong sub region (GMS).
Emerging Economy: The Economic Intelligence Center of Siam Commercial Bank (SCB) has predicted that Thailand’s economy will grow at 3.1% in 2019.
Rise of the LED: Thailand is moving full steam ahead towards the use of LED lighting. The lighting market in Thailand is worth about $1 Billion and is witnessing huge year-on-year growth. The Provincial Electricity Authority in Thailand is also working on a project to completely replace Thailand’s streetlights with energy-efficient LEDs.
Smart Lighting Trends: The smart lighting in Asia Pacific is forecasted to reach a market value of more than $6 billion from 2019 to 2024. Growing adoption of smart lighting in commercial, infrastructure, automobile and industrial sectors will be one of the major drivers for the smart lighting market in Asia Pacific.