Photo - Stanley Kee, Managing Director for GfK in Southeast Asia.
According to GfK recent technical consumer goods (TCG) survey, during the fourth quarter of 2012, Malaysia, Indonesia and Thailand continued to show significant growth with figures of 15, 15, and 12 percent respectively for the full year of 2012.
GfK managing director for Southeast Asia, Stanley Kee, said the continued expansion in the fourth consecutive quarter of 2012 placed these three countries as the fastest growing markets in the region.
"Malaysia and Indonesia 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," said Kee.
"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," he said.
Kee said GfK's latest TEMAX [Technical Market Index]] showed an 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 four 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," he said.
"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," said Kee.
He added the strong performance of the Telecommunications sector showed no signs of receding as this continued to be the top driver of growth in Singapore (45 percent), Malaysia (32 percent) and Thailand (27 percent). "Unrelenting demand for tablets has also propelled the IT sector to achieve good results in countries like Indonesia (31 percent), Thailand (13 percent) and Malaysia (11 percent)."
Love of smart gadgets
"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," said 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."
GfK TEMAX (Technical Market Index) is a quarterly index to track Technical Consumer Goods markets in more than 30 countries worldwide and is designed to support decision makers from Industry and Retail in obtaining facts about their markets.
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