IoT Analytics has reported that the number of IoT connections worldwide increased by 18% in 2022. Currently, there are 14.3 billion active devices, and this number is expected to rise by 16% to 16.7 billion devices. Although the growth rate in 2023 is projected to be slightly lower than that of 2022, IoT connections have the tendency to continue growing significantly in the following years. And according to a report by Fortune Business Insights, the Asia Pacific region has the fastest-growing IoT market in the world.
The continuous growth of the IoT market aligns with the strategy of the TrueX application, which aims to offer innovative solutions that enhance the quality of life for all Thais while promoting equal access to digital technology. True Blog spoke with the TrueX team about the concept, opportunities, and challenges involved in developing the application.
Growth of the IoT Market
Yosapol Arttachariya, TrueX’s Channel and Operation, unveils the inception of TrueX, which originated from True LivingTECH, the application that connects IoT devices provided by True Group, and its growth in users reflects the expansion of the IoT market in Thailand and Southeast Asia, which has experienced significant growth from 2019 to 2022.
With the market experiencing continuous growth, True is actively expanding its IoT offerings to provide a range of services and solutions. The TrueX platform encompasses six solutions: X Home, X Health, X Learning, X Utility & Energy, X Shopping, and X Entertainment. These solutions are designed to address pain points in people’s lifestyles and offer enhanced experiences. Notably, X Home has emerged as the most outstanding and rapidly growing solution, driven by increasing demand for safety and security features.
“Thai people focus on safety and security with sales of closed-circuit cameras continue to grow at dropping prices every year. The rate of usage rises especially with the development of IoT devices that are easy to install and use, resulting in the market growth,” Mr. Yosapol says.
Thai people focus on safety and security with sales of closed-circuit cameras continue to grow at dropping prices every year. The rate of usage rises especially with the development of IoT devices that are easy to install and use, resulting in the market growth
Pathiya Todhanakasem from New Business Growth Engine further explains that shifting demographics are the catalyst for the accelerating growth of the IoT market. Thailand is experiencing a significant demographic shift, with the country transitioning into an aging society. Alongside this, there is a noticeable change in the lifestyles of younger generations, as more individuals choose to move out and live independently. As a result, consumers are using technology not only look after their homes but also to care for the family members and protect valuable belongings. She also emphasizes that convenience is a key factor that people prioritize when considering IoT solutions.
“TrueX application operates automatically based on four formats of ultra-personalization,” explains Ms. Pathiya. “These formats include Location, where the application detects when a car approaches the house within 300 meters and automatically turns on all electrical appliances at home. In terms of Environment, users can schedule the automatic activation of lights in their homes at sunrise or sunset, which varies based on the location. Timing is another aspect, allowing users to set specific actions like brewing coffee at precisely 8 am using a smart plug. Lastly, the Interconnectedness of IoT devices ensures that if an elderly family member activates an emergency alarm, a notification is sent to the mobile phone while the lights within the area are turned on to alert others from a distance.”
Creating Differentiation and Adding Value
Since its launch in early April 2023, TrueX has witnessed over 350,000 application downloads (the number includes the existing database of the former True LivingTECH). The target is to reach one million downloads by the end of 2023, while also aiming to increase the number of daily active users to 200,000.
The advantage of TrueX lies in its ability to leverage the ecosystem of True’s telecom-tech company to expand its services and effectively compete in the market in order to fulfill the growing demand for smart homes while emphasizing its differentiation from competitors through the following strategies:
- Telecommunications infrastructure: The telecommunications infrastructure under True Group serves as the foundation for connecting IoT products and services for both existing customers and consumers nationwide.
- Seamless user experience: All services within TrueX are seamlessly integrated into a single application, catering to consumers’ lifestyles. This integration minimizes complexity and offers easy access to a comprehensive range of services, ensuring a seamless experience for users.
- Cross-selling and bundle deal: TrueX is driving growth through the implementation of cross-selling strategies and the provision of bundle deals, aligning product offerings and bundling them into valuable packages.
- After-sales service support: TrueX provides after-sales service support through the 24-hour True Call Center and offers the convenience of exchanging guaranteed products at True Shops nationwide.
- Turnkey solutions: The development of integrated IoT solutions encompasses connectivity with devices, platforms, applications, and installation. This comprehensive approach enables TrueX to deliver personalized solutions to meet the unique needs of each customer.
- Privacy: TrueX prioritizes user privacy by ensuring that all settings and permissions for IoT devices connected to the platform are controlled directly by the end users.
- Ecosystem: TrueX extends additional privileges to customers through collaborations with the True Group and its partners. This allows customers to continuously receive benefits and added value from the application.
“TrueX aims to evolve into a smart platform that simplifies lifestyles by offering an expanded range of solutions and continually introducing new innovations. We want to introduce new product offerings in the Thai market and embraces the use of AI in developing products and services to meet future demands,” reveals Ms. Pathiya, shedding light on TrueX’s future plans.
TrueX aims to evolve into a smart platform that simplifies lifestyles by offering an expanded range of solutions and continually introducing new innovations We want to introduce new product offering in the Thai market and embraces the use of AI in developing products and services to meet future demands
Diverse Perspectives Uncover Market Opportunities
Suthida Waivutthipinyo, Head of IoT Consumer Business, recognizes the opportunities presented by the expanding IoT market in Thailand. By leveraging technologies and IoT devices in diverse use cases tailored to individual preferences, the team’s varied experiences in gender, age, skill, and lifestyle contribute to the development of innovative solutions that meet the evolving needs of today’s consumers.
“We have observed market opportunities through the perspectives and use cases of our team and their close friends. For instance, our younger team members have unique ideas about using IoT devices that differ from those in their 40s,” she explains. “One example is the installation of door and window sensors on closets to protect valuable items. If someone attempts to open the closet, the application is notified. Another example is a friend using a closed-circuit camera to remotely care for and interacting with their pet through voice commands. These experiences have opened our eyes to the potential for further market expansion.”
Equitable Access to Technology
Although the use of IoT devices is simple and part of our daily lives, Pawarisa Choengru, Marketing Manager of TrueX, acknowledges that the main challenge in Thailand lies in consumer adoption. Users often have uncertainty about their ability to install devices on their own and concerns about device control complexities. To address this, TrueX is designed with simplicity in mind, allowing users to easily set up the devices themselves. Additionally, it provides easy-to-understand installation guides and voice commands in the Thai language to offer convenience for users of all ages.
According to the report by Economist Intelligence Unit, affordability is identified as the primary obstacle contributing to digital inequality. In response, TrueX serves as a mechanism to promote the widespread adoption of digital technology across Thailand at affordable prices. This initiative has yielded promising results, as evidenced by the fact that 30% of current TrueOnline customers utilizing home internet have already installed closed-circuit cameras (data as of May 2023).
“To use a security camera, customers need to download the TrueX application, which acts as a gateway to explore various other IoT technologies. Furthermore, our services are accessible to customers across all network operators, demonstrating our commitment to empowering Thai people with affordable digital technology,” Ms. Suthida says.
