Indonesia and Malaysia sustained positions as top two growth markets; Telecommunication remains key driver of growth
6 March, 2013, SINGAPORE – Technical consumer goods (TCG) in Indonesia, Malaysia and Thailand continue to expand in the fourth consecutive quarter of 2012, making them the three fastest growing markets in the region with their robust growth of 15, 15 and 12 percent respectively in the full year of 2012. (Visit www.gfktemax.com for full details of each country’s performance).
GfK’s latest TEMAX reports reflected exponential value growth of 31 and 21 percent in Thailand and Indonesia’s fourth quarter TCG markets respectively, helping the countries grow 12 and 15 percent in terms of overall annual sales over the previous year. Malaysia’s final quarter’s 4 percent value expansion managed to help sustain the country’s 15 percent annual growth to retain its position as second highest growth market for the year.
“Indonesia and Malaysia continue to reign as the top growth engines in the Southeast Asia region, driven by strong adoption trend of the latest gadgets across both countries, and in Indonesia in particular, the ongoing phenomenon of households upgrading their major domestic appliances,” noted Stanley Kee, Managing Director for GfK in Southeast Asia. “It is worth highlighting that the highest individual country growth registered for the
Consumer Electronics, Major Domestic Appliances, and Information Technology sectors across the region in 2012 all hailed from Indonesia.”
Throughout the year, six of the seven sectors tracked in the fourth most populous country of Indonesia attained positive standings in the growth range of 2 to 31 percent. Malaysia on the other hand saw five panels expanding in values between 7 to 32 percent.
The good performance of the Telecommunications sector shows no signs of receding as it continues to be the top driver of growth in Singapore (45%), Malaysia (32%) and Thailand (27%). Unrelenting demand for tablets have also propelled the IT sector to achieve good results in countries like Indonesia (31%), Thailand (13%) and Malaysia (11%).
“In 2013, we predict the Telecommunications and IT sectors to continue to be key contributors to the good performance of the total technical consumer goods market, as manufacturers keep coming out with new enhancements to the popular smart gadgets that they know consumers love so much,” stated Kee. “The process of upgrading and the latest innovations in the TV segment such as OLED and 4G TV will also help stimulate matured TV markets to greater heights,” he concluded.