Genetec eager to raise profile in Thailand
Genetec, a Canada-based physical security system, is expanding its footprint in Thailand to capitalise on demand for security systems in smart cities.
Last year the company established local sales offices in Thailand, Hong Kong and South Korea as part of an Asia-Pacific expansion based on economic growth and 580 airports in the region, said Daniel Lee, managing director in Asia-Pacific for Genetec.
The region contributes less than 10% of global revenue for the company, but growth was 67%, the highest in the world.
Thailand's large population, the 4.0 industrial upgrade policy, lots of new transport projects, including the Eastern Economic Corridor, mass transit and airport expansion, as well as growing retail and banking sectors were all cited as factors for Genetec to expand locally.
Previously, the company distributed security systems through local channels. The establishment of a local office and technical support will enable Genetec to gain more revenue.
Mr Lee said Thailand's electronic physical access control revenue projects to have moderate 6.6% compound average growth from 2016-21. Revenue from Thailand in 2021 is estimated to be US$29.2 million (926 million baht), compared with $21.7 million in 2016. This year Genetec's revenue from Thailand is projected to reach $25.8 million.
Tussanai Kanuanghead, regional sales manager for Thailand and Indochina, said Genetec's technology is mainly internet protocol-based security, including access control, video management and automated licence plate recognition.
The security system is open for integration with other third-party systems to provide a "unified security" ability for a holistic security system and better analytics from multiple sources of data, as well as efficient operations management.
The software offers overview analytics and predictive features such as suspicious objects and persons in a safety area that will alert security staff, or heat maps in crowded areas to track foot traffic.
These trends can be integrated with more data from other Internet of Things devices into the platform, such as air pollution sensors that warn people of danger from dust in particular areas. In the US, sensors can detect a gunshot, alerting police officers of the location, part of the unified security concept.