New Security Perspective - Time to Put ASEAN on the Map

The Asian financial crisis in 1997 and 1998 hammered many Southeast Asian countries hard. Ten years later, when the global recession struck, this economic hardship did not hurt ASEAN much. In recent years, it has become clear that the pace of economic growth in ASEAN has shown strong signs of acceleration, largely propelled by sweeping political reforms, changing demographic trends, and underlying economic strength that is supported by solid fundamentals. New projects, HD IP Camera especially h.265 ipcam suppliers and manufacturers, construction and infrastructure are underway and the security market looks promising.

Why Focus on ASEAN

The IMF forecasts that the ASEAN-5 (Indonesia, Malaysia, Philippines, Thailand, and Vietnam) will grow a combined 5.4 percent in 2014, compared to 2.6 percent for the U.S. and 1 percent in the Euro area. While a large number of multinational companies have missed these changes and choose to focus their attention on larger headline names like China and India, here are some of the reasons that one cannot afford to ignore this golden opportunity.

Young and Confident

About 65 percent of ASEAN's populations are within working age, which represents large working-age population, according to United Nation Report

Accompanied with this large working population is increasing numbers of the middle class. ADB survey forecasts that by 2020, Indonesia will rank eighth globally with its consumer population. By 2030, the middle-class population will account for more than half of the overall population in most of the developing Asian countries.

Not just a lot in numbers, ASEAN's consumers are among the world's most optimistic. The Nielsen Global Consumer Confidence Survey released in October 2013 found that Indonesia and the Philippines (pre-typhoon) were the most optimistic countries in the world; Thailand and Malaysia also rank in the top 10. And they are happy to spend on higher-value items. A rise in the minimum wage in Indonesia has boosted disposable income, prompting consumers to trade up to premium brands, according to Nielsen.

All these facts and statics have shown that ASEAN continues to be a key market for IP Camera manufacturer retail and this region will continue to gain importance to Asia and the global economy.

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