Southeast Asia's large population base, young structure, and rapid development of the Internet have led to the rapid development of many related industries, among which digital home appliances have developed rapidly due to their closer to the lives of the general public. PwC research shows that from 2019 to 2022, Southeast Asian Internet penetration users from 61% (global digital report) by leaps and bounds to 72% (Statistics), Asia-Pacific 4G/5G penetration will surge from 61% to 88% (GSM), human beings or will fully enter the era of intelligence, around mobile devices, the Internet, digital home appliances market will usher in many new opportunities.
In 2022, tourism has become one of the hottest topics in Southeast Asia, and island beach vacations have made consumers feel at ease. According to an AirAsia survey, 7 out of 10 Filipinos began planning to travel, and when foreign restrictions were reduced, half said they would start international travel. This has proven to be the case, with figures from the Philippine Tourism Department showing that more than 73,000 foreign tourists have entered the Philippines in the month from February 10 to March 10.
In Southeast Asia, where social media, short videos, and Vlogs are extremely popular, video content creation has become popular among the general public, and locals have purchased action cameras, aerial photography equipment, and waterproof mobile phone cases to record their long-distance travels. On the first day of Lazada's 10th birthday promotion, the cross-border action camera category achieved 15-fold and 6-fold growth in Thailand and the Philippines, respectively.
In addition, the enthusiasm of the main group of contemporary consumers for health management and body shaping is getting higher and higher, and these needs will drive the rapid development of family sports health scenes, promote the growth of wearable devices, and accelerate the extension and expansion of sports and health products by users. In the hot Southeast Asia, mini fans have also become the "just need" of travel life.
The epidemic has prompted the change of traditional office models, spawned more collaboration needs and mixed office scene needs, all aspects of work and life are moving towards digital transformation, and equipment and accessories have stood at the "outlet" for a while. According to The Expresswire report, the global computer accessories market is expected to grow by $4.28 billion during the 2021-2027 period, with a CAGR of 5.87% during the forecast period. Compared with carrying a large number of small accessories such as mice, keyboards, data cables, and docking stations, more people choose to buy multiple products to cope with the "unforeseen needs" of switching scenes.
From terminal e-sports to mobile games, from Switch game consoles to VR virtual games, the e-sports game industry has entered the fast lane of rapid development, games will be one of the mainstream cultural lifestyles of young people in Southeast Asia, and consumers' demands for e-sports equipment are high-quality and professional.
Gamebooks, tablet high-performance CPUs, graphics cards and SSDs ensure smooth gameplay. And high-definition, low-latency esports displays, including curved screens, bring pleasing gaming effects and wide-angle control experiences. Dedicated mice, keyboards, and headsets provide excellent positioning and handling. In recent years, the rise of VR devices will also bring new ways of controlling and greatly enhance the entertainment of games in the future. Even if the Switch handheld is operated, consumers are also willing to buy a series of auxiliary devices to enhance the game experience, it can be said that the prosperity of the game industry has led to the rebirth of the entire accessories and console industry.
According to Euromonitor International's 2021 Lifestyle Survey, 66% of Southeast Asian consumers work from home at least weekly and 70% cook or bake at least every week. Even in 2022, this trend will continue to be the same, and this lifestyle habit will continue to affect Southeast Asian consumers for five years. In order to avoid the spread of the virus, consumers still cook their own meals, DIY shape. But at the same time, they also want to improve efficiency, hair trimmers/styling devices and other small household appliances have become explosive growth categories, small kitchen appliances such as air fryers, juice breaking machines, coffee machines have also seen dynamic growth.
Another trend in Southeast Asia is that the consumer mentality returns to the family and returns to life itself. At the data level, sales of products related to improving the living conditions of families and family members have surged. People are willing to invest more in their own small world, such as home theaters and KTV. On the other hand, the development of the Internet of Things and lazy economy in Southeast Asia has promoted the development of the home appliance market in the direction of intelligence. The global smart home market size is expected to reach $380.5 billion by 2028. With the popularization of market education, the market for smart homes in Southeast Asia will become larger and larger.