Thailand Cyber Security Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Thailand Cybersecurity Market Analysis

The Thailand Cybersecurity Market size is estimated at USD 508.89 million in 2025, and is expected to reach USD 984.12 million by 2030, at a CAGR of 14.1% during the forecast period (2025-2030).

Thailand's cybersecurity landscape is experiencing significant transformation amid escalating digital threats and evolving attack vectors. According to the National Cyber Security Agency, the country witnessed 835 cyber threats against public and private organizations in 2022, highlighting the growing sophistication of cyberattacks. The financial sector has been particularly vulnerable, as evidenced by the September 2023 data breach at CardX, a major digital financial platform, which exposed sensitive customer information, including personal loan and cash card applications. This incident, among others, has prompted financial institutions to strengthen their cyber protection infrastructure and adopt more robust security solutions.

The shortage of qualified cybersecurity professionals remains a critical challenge in Thailand's cybersecurity ecosystem. The National Cyber Security Agency (NCSA) reported in September 2023 that only 0.5% of Thai bureaucrats work in the IT field, with an even smaller fraction specializing in information security. To address this gap, the government has initiated several capacity-building programs, including the November 2023 partnership between the Thai government and Google Cloud for cyber threat intelligence exchange and joint capability building, aimed at establishing a National CyberShield Alliance to protect public sector entities, businesses, and citizens.

Cloud adoption is reshaping Thailand's cybersecurity landscape, with an Alibaba Cloud survey released in March 2023 revealing that 95% of Thai businesses anticipate significant growth in cloud spending. This shift has prompted organizations to reevaluate their cloud security architectures and adopt cloud-native security solutions. In response to this trend, major cloud providers, including Google, Microsoft, and AWS, have launched cloud regions in Thailand, bringing advanced cloud security capabilities closer to local businesses while necessitating enhanced enterprise security measures for cloud environments.

The regulatory environment continues to evolve to address emerging cybersecurity challenges. In March 2023, Thailand introduced new Cybercrime Measures for Banks and service providers, establishing legal frameworks to combat cybercrime and protect digital infrastructure. The Thailand Computer Emergency Response Team (ThaiCERT) has been actively addressing security incidents, successfully resolving 367 cases of compromised websites in 2022. These regulatory developments, coupled with increasing cyber threats, have prompted organizations across sectors to prioritize digital security investments and adopt more sophisticated security analytics to protect their digital assets.

Thailand Cybersecurity Market Trends

Increasing Demand for Digitalization and Scalable IT Infrastructure

The rapid digital transformation across Thailand's business landscape is creating an unprecedented demand for robust cybersecurity solutions. According to the Digital Economy Promotion Agency (DEPA), Thailand's digital market value reached approximately THB 2.6 trillion (USD 74 billion) in 2022, highlighting the massive scale of digitalization in the country. This digital transformation is accompanied by significant investments in scalable IT infrastructure, cloud services, and advanced technologies, which has expanded the attack surface and increased the complexity of securing digital assets. For instance, in November 2023, Google and the Thai government partnered to increase the country's digital competitiveness by growing investments in developing the country's digital infrastructure for public services, demonstrating the strong governmental push toward digitalization.

The evolution of digital services in Thailand's financial sector exemplifies the critical need for enhanced cybersecurity measures. Financial institutions are increasingly adopting digital channels, mobile banking, and online transaction platforms, creating new vulnerabilities that require sophisticated security solutions. This is evidenced by recent security incidents, such as the September 2023 data breach at CardX, a major digital financial platform in Thailand, which exposed sensitive customer information, including personal loan and cash card applications. Additionally, in August 2023, the Bank of Ayudhya faced a cyber attack by the KOLZSec hacker group, highlighting the vulnerability of even well-established financial institutions and reinforcing the urgent need for robust cybersecurity infrastructure.

Need to Tackle Risks from Various Trends such as Third-Party Vendor Risks, the Evolution of MSSPs, and Adoption of Cloud-First Strategy

The increasing adoption of cloud-first strategies and the evolution of Managed Security Services Providers (MSSPs) are fundamentally reshaping Thailand's cybersecurity landscape. In a significant development, Bangkok Systems & Software's Managed Service Provider partnered with Cyware in mid-2022 to introduce Cyber Fusion as a service in Thailand, combining threat detection, security automation, and incident response technologies into a unified platform. This evolution of MSSPs is particularly crucial as organizations seek specialized expertise and advanced threat detection capabilities while managing the complexities of third-party vendor relationships and cloud security requirements. Furthermore, in December 2023, Cyber Elite, a cybersecurity solution provider in Thailand, partnered with a US firm to provide cloud security and protect Thai businesses and their IT environment from emerging cyber threats, demonstrating the market's response to growing cloud security demands.

The adoption of cloud-first strategies has introduced new dimensions of security challenges that organizations must address. This is evidenced by recent strategic initiatives, such as the March 2023 announcement by the Office of National Digital Economy and Society Commission (ONDE) regarding its 2024 operational plan, primarily focusing on supporting the Ministry of Digital Economy and Society's "Go Cloud First" initiative. The complexity of securing cloud environments is further amplified by the presence of multiple cloud service providers in Thailand, including Google, Microsoft, and AWS, who have established cloud regions to support local businesses. These developments necessitate comprehensive security measures to protect data across multiple cloud environments while ensuring compliance with local regulations and maintaining operational efficiency.

Segment Analysis: By Offering

Security Type Segment in Thailand Cybersecurity Market

The Security Type segment dominates the Thailand cybersecurity market, commanding approximately 68% of the market share in 2024, while also exhibiting the strongest growth trajectory. This segment's prominence is driven by the increasing adoption of various security solutions, including cloud security, data security, network security, and infrastructure protection across Thai organizations. The segment's leadership position is reinforced by the growing complexity of cyber threats and the country's rapid digital transformation initiatives, particularly in sectors like BFSI, healthcare, and government services. The Thai government's emphasis on developing frameworks for making Thailand's digital economy cyber-resilient has further catalyzed the adoption of comprehensive security solutions. Additionally, the implementation of stringent data protection regulations and the increasing frequency of sophisticated cyber attacks have compelled organizations to invest heavily in advanced security technologies, particularly in areas such as cloud security and infrastructure protection, solidifying the segment's market dominance.

Services Segment in Thailand Cybersecurity Market

The Services segment plays a crucial role in the Thailand cybersecurity market, complementing the security solutions with essential implementation, maintenance, and consulting services. This segment encompasses a wide range of offerings, including managed security services, professional services, and consulting services that help organizations effectively deploy and manage their cybersecurity infrastructure. The segment's significance is particularly evident in supporting small and medium-sized enterprises that often lack internal cybersecurity expertise and resources. Service providers in Thailand are increasingly focusing on offering specialized services tailored to specific industry requirements, particularly in sectors like banking, healthcare, and manufacturing. The growing complexity of cyber threats and the evolving regulatory landscape have made cybersecurity services an indispensable component for organizations seeking to build and maintain robust security postures.

Segment Analysis: By Deployment

On-Premise Segment in Thailand Cybersecurity Market

The on-premise deployment segment dominates the Thailand cybersecurity market, commanding approximately 61% market share in 2024. This significant market position is primarily driven by stringent information security and compliance requirements, particularly in sectors like BFSI where data privacy and confidentiality are paramount concerns. Large commercial banks in Thailand, including Kasikorn Bank and Siam Commercial Bank, are making substantial ICT investments to strengthen their cyber defense systems through on-premise deployments, recognizing the benefits of having direct control over their security infrastructure. The segment's dominance is further reinforced by organizations' needs for enhanced data privacy, considerations related to legacy infrastructure, perceived performance advantages, and demands for customized security measures. Additionally, concerns about data residency and sovereignty continue to influence organizations' preference for on-premise solutions, particularly among enterprises handling sensitive information and critical infrastructure.

Cloud Segment in Thailand Cybersecurity Market

The cloud deployment segment is experiencing rapid growth in the Thailand cybersecurity market, projected to grow at approximately 19% during 2024-2029. This accelerated growth is driven by the increasing preference for cloud-based cybersecurity solutions among both large and small-scale companies, attributed to their scalability, flexibility, platform centralization, and cost-effectiveness. The trend of remote working conditions in Thailand has significantly contributed to this growth, as organizations seek secure access and monitoring capabilities from any location. The segment's expansion is further supported by the development of data center infrastructure, with major providers like NTT Ltd. making substantial investments in Thailand. The government sector is also driving cloud adoption through strategic partnerships, such as the collaboration between the Thai Government and Google Cloud to enhance the country's digital competitiveness and accelerate cloud-based digital transformation. This shift towards cloud deployment is particularly beneficial for small and medium-sized enterprises, as it offers them access to enterprise-grade security solutions without significant upfront infrastructure investments.

Segment Analysis: By End User

BFSI Segment in Thailand Cybersecurity Market

The Banking, Financial Services, and Insurance (BFSI) sector dominates the Thailand cybersecurity market, holding approximately 27% market share in 2024. This significant market position is driven by the sector's rapid digital transformation, increasing adoption of cloud services, and the integration of advanced technologies like machine learning and artificial intelligence in banking operations. The growing prevalence of digital channels such as mobile banking and internet banking has expanded the attack surface for cyber threats in the BFSI sector, necessitating robust cybersecurity solutions. Financial institutions in Thailand, including both traditional banks and digital financial platforms, are increasingly prioritizing cybersecurity investments to protect against data breaches, ransomware attacks, and other cyber threats. The sector's commitment to strengthening cyber defenses is further reinforced by regulatory compliance requirements and the critical need to maintain customer trust in digital financial services.

Healthcare Segment in Thailand Cybersecurity Market

The healthcare sector is emerging as the fastest-growing segment in Thailand's cybersecurity market, with an expected growth rate of approximately 17% during 2024-2029. This remarkable growth is primarily driven by the sector's accelerating digital transformation, including the widespread adoption of telemedicine, mobile health applications, and artificial intelligence in healthcare delivery. The increasing implementation of Internet of Things (IoT) devices and digital health platforms has created a complex cybersecurity landscape that requires sophisticated protection measures. Healthcare organizations are significantly investing in cybersecurity solutions to safeguard electronic health records, protect patient data privacy, and ensure compliance with data protection regulations. The sector's growing reliance on connected medical devices and digital health infrastructure has made it imperative to implement robust cybersecurity measures to prevent unauthorized access and protect sensitive medical information.

Remaining Segments in End User Market Segmentation

The other significant segments in Thailand's cybersecurity market include Government & Defense, IT and Telecommunication, Manufacturing, and Other End-Users. The Government & Defense sector is particularly notable for its emphasis on protecting critical national infrastructure and sensitive government data through advanced cybersecurity solutions. The IT and Telecommunication sector focuses on securing network infrastructure and protecting against telecommunications fraud, while the Manufacturing sector's cybersecurity needs are driven by the increasing adoption of Industry 4.0 technologies and connected devices in production processes. The Other End-Users segment, which includes education, transportation, logistics, and retail & e-commerce, demonstrates diverse cybersecurity requirements based on their specific operational needs and digital transformation initiatives.