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Thailand Digital Transformation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Thailand Digital Transformation Market Report is Segmented by Type (Analytics, Artificial Intelligence, and Machine Learning, Extended Reality (XR), Iot, Industrial Robotics, Blockchain, Additive Manufacturing/3D Printing, Cybersecurity, Cloud and Edge Computing, Others (digital Twin, Mobility, and Connectivity)), by End-User Industry (Manufacturing, Oil, Gas and Utilities, Retail & E-Commerce, Transportation and Logistics, Healthcare, BFSI, Telecom and IT, Government and Public Sector, Others (Education, Media & Entertainment, Environment Etc)). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

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Thailand Digital Transformation Market Size

Thailand Digital Transformation Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 8.35 Billion
Market Size (2029) USD 12.34 Billion
CAGR (2024 - 2029) 8.12 %
Market Concentration Low

Major Players

Thailand Digital Transformation Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Thailand Digital Transformation Market with other markets in Technology, Media and Telecom Industry

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Thailand Digital Transformation Market Analysis

The Thailand Digital Transformation Market size is estimated at USD 8.35 billion in 2024, and is expected to reach USD 12.34 billion by 2029, growing at a CAGR of 8.12% during the forecast period (2024-2029).

Thailand Digital transformation market is experiencing robust growth driven by rapid technological adoption, increasing internet penetration, and supportive government policies.

• Technological advancements, particularly in AI, ML, IoT, and cloud computing, are spearheading digital transformations across various sectors. These advancements enable businesses to optimize operations, enhance customer engagement, and revolutionize their business models.

• The Thai government is actively driving digital transformation through various initiatives. The 'Thailand 4.0' policy is at the forefront, designed to elevate the nation to a high-income status by leveraging innovation and technology. This strategy emphasizes the development of smart cities, the enhancement of digital skills, and the cultivation of a robust digital economy. The 'Eastern Economic Corridor (EEC)' project is pivotal, complementing this with a vision to pivot the region into a center for technological innovation and advanced industries.

• Businesses in Thailand are swiftly embracing cutting-edge technologies to maintain their competitive edge. Cloud computing, favored for its scalability and cost-efficiency, is streamlining operations. Furthermore, the adoption of big data analytics and AI is empowering companies to make data-informed decisions. Notably, financial institutions are utilizing AI for fraud detection and personalized services, while retailers harness big data for precise marketing and inventory management.

• Recognizing the surging demand for digital services, Thailand is significantly bolstering its digital infrastructure. The rollout of 5G networks is a game-changer, promising heightened connectivity and paving the way for innovations like autonomous vehicles and telemedicine. Concurrently, the nation's broadband penetration is rising, bridging the digital divide between urban and rural areas.

• However, amidst these advancements, challenges loom. A pronounced digital skills gap poses a significant hurdle, with a dearth of professionals adept at managing advanced technologies. Moreover, as digitalization deepens, so do concerns over cybersecurity increases. Safeguarding data privacy and fortifying critical infrastructure against cyber threats are imperative tasks to sustain the growth of the digital economy.

Thailand Digital Transformation Market Trends

Retractable Safety Syringes Segment Expected to Witness Significant Growth During the Forecast Period

  • In 2016, Thailand unveiled its 20-year Digital Thailand Plan, aligning with its ambition to become a digital leader in Southeast Asia. This comprehensive strategy outlines clear, measurable policy goals segmented into distinct phases.
  • Thailand's digital roadmap has been delineated into distinct phases. The initial phase concentrated on bolstering digital infrastructure, while the subsequent phase emphasized enhancing digital inclusion. As of 2023, Thailand is embarking on Phase 3, aiming to attain complete digital transformation by 2027. The ultimate phase, Phase 4, aspires to position Thailand as a frontrunner in the global digital economy.
  • Thailand's digital strategy focuses on several pivotal pillars: establishing a robust nationwide digital infrastructure, leveraging digital technologies to drive economic growth, fostering a more inclusive and fair society through digital initiatives, enhancing public services with e-government solutions, preparing the workforce for the digital age, and instilling trust in digital technologies.
  • Thailand stands out for its proactive strides in bolstering its 5G ecosystem. It emerges as a Southeast Asian pioneer, having effectively rolled out 5G technology. Recent data from Erricson reveals that over 80% of Thailand's populace now enjoys 5G coverage.
  • In August 2023, a Telenor Group survey on mobile device usage in Thailand revealed that around 36% of respondents predominantly utilized a 5G connection to power their mobile devices, while 6% did not utilize a 5G network connection at all.
Thailand Digital Transformation Market: Frequency of using 5G networks among mobile internet users, in %, Thailand, August 2023

North America Expected to Hold Significant Market Share During the Forecast Period

  • Thailand is poised to witness an acceleration in its digital transformation, driven by generative artificial intelligence (AI), cybersecurity, advanced cloud services, sustainable technologies, and workforce readiness. Undeterred by economic fluctuations and geopolitical uncertainties, businesses are steadfast in their digital initiatives. Their goals include cost reduction, heightened productivity, and enhanced resilience against emerging threats.
  • The Thai government is gearing up to launch new artificial intelligence (AI) initiatives, aligning with the second phase of its national AI strategy. Among the six flagship projects in the pipeline, highlights include fostering an AI-ready workforce and introducing the Thai Large Language Model (ThaiLLM). These projects are currently awaiting approval from the National AI Committee.
  • In May 2024, the "MHESI for AI" policy, spearheaded by Thailand's Ministry of Higher Education, Science, Research and Innovation (MHESI), is designed to equip Thais with the skills to leverage artificial intelligence (AI) for the country's advancement. According to the MHESI, Thailand faces significant challenges in AI adoption, primarily due to a scarcity of skilled professionals and a dearth of practical AI applications. The ministry is integrating AI education into university programs, ensuring both students and faculty possess the necessary AI literacy for effective utilization to address the lack of skilled professionals.
  • Thailand is fast-tracking its AI strategy from 2022 to 2027, with the goal of positioning itself as Southeast Asia's premier AI hub by 2027. The strategy targets elevating Thailand's AI Readiness Index from 59th place in 2021 to the top 50 by 2025. Additionally, it aims to ensure that a minimum of 600,000 Thai citizens are well-versed in AI law and ethics. The initiative is projected to yield business and social impacts amounting to THB 48 billion (USD 1.32 billion) by 2027.
  • In a 2023 survey by ETDA in Thailand, 22% of respondents reported using artificial intelligence (AI) for customer service, notably employing chatbots in their e-commerce ventures—furthermore, an additional 20% leveraged AI for business model development.
Thailand Digital Transformation Market: Leading usages of artificial intelligence (AI) among businesses, in %, Thailand, December 2023

Thailand Digital Transformation Industry Overview

The Thailand Digital Transformation Industry market is fragmented, with the presence of major players and numerous regional companies. Key players in the market are adopting strategies such as partnerships, agreements, innovations, and acquisitions to enhance their service offerings and gain a sustainable competitive advantage.

• July 2024 - Ericsson Thailand has revealed its bold initiative to spearhead Thailand's digital transformation, leveraging the robust 5G infrastructure it's establishing. The company's newest 5G Innovation and Experience Studio in Thailand Digital Valley is poised to pioneer fresh 5G applications crafted in collaboration with partners and ecosystem stakeholders. A pivotal element of Ericsson's Thai strategy is the recently inaugurated 5G Innovation and Experience Studio at Thailand Digital Valley, a venture undertaken in partnership with the Royal Thai Government, facilitated by the Digital Economy Promotion Agency (DEPA).

• May 2024 - Microsoft unveiled substantial plans to bolster Thailand's technological landscape. These plans include the establishment of new cloud and AI infrastructure, offering AI training to more than 100,000 individuals, and bolstering the country's developer community. These initiatives are an extension of Microsoft's existing memorandum of understanding (MoU) with the Royal Thai Government, aimed at shaping Thailand's digital-first, AI-driven future.

Thailand Digital Transformation Market Leaders

  1. Accenture PLC

  2. Google LLC (Alphabet Inc.)

  3. Siemens AG

  4. IBM Corporation

  5. Microsoft Corporation

*Disclaimer: Major Players sorted in no particular order

Thailand Digital Transformation Market Concentration
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Thailand Digital Transformation Market News

  • July 2024 - Forest Interactive Thailand partnered with Akamai Technologies to revolutionize cloud computing services, bolster cybersecurity, and refine content delivery networks (CDNs) for Thai businesses. Leveraging Akamai's distributed edge and cloud platform, this collaboration aims to elevate the efficiency and reliability of application and workload management for companies in Thailand.
  • April 2024 - China's Midea Group, a leading electrical appliance manufacturer, established its inaugural overseas 5G factory in Thailand, marking a milestone in smart manufacturing innovation. Situated in Thailand's Chonburi province, the factory spans about 208,000 square meters and is designed to produce over 4 million units annually.

Thailand Digital Transformation Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definitions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. INDUSTRY ECOSYSTEM ANALYSIS

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Increase in the adoption of big data analytics and other technologies in the country/region

      2. 5.1.2 The rapid proliferation of mobile devices and apps

    2. 5.2 Market Restraints

      1. 5.2.1 Concerns about the Privacy and Security of Information

  6. 6. CURRENT MARKET SCENARIO AND EVOLUTION OF DIGITAL TRANSFORMATION PRACTICES

  7. 7. KEY METRICS

    1. 7.1 Technology Spending Trends

    2. 7.2 Number of IoT Devices

    3. 7.3 Total Cyberattacks

    4. 7.4 Technology Staffing Trends

    5. 7.5 Internet growth and penetration in individual countries

    6. 7.6 Digital Competitiveness Ranking

    7. 7.7 Fixed and mobile broadband coverage

    8. 7.8 Cloud adoption

    9. 7.9 AI adoption

    10. 7.10 E-commerce penetration

  8. 8. MARKET SEGMENTATION

    1. 8.1 By Type

      1. 8.1.1 Analytics, Artificial Intelligence and Machine Learning

        1. 8.1.1.1 Current Market Scenario and Market Projections for the Forecast Period

        2. 8.1.1.2 Key Growth Influencers (Drivers, Challenges, and Opportunities)

        3. 8.1.1.3 Use Case Analysis

        4. 8.1.1.4 Market Outlook

      2. 8.1.2 Extended Reality (XR)

        1. 8.1.2.1 Current Market Scenario and Market Projections for the Forecast Period

        2. 8.1.2.2 Key Growth Influencers (Drivers, Challenges, and Opportunities)

        3. 8.1.2.3 Use Case Analysis

        4. 8.1.2.4 Market Outlook

      3. 8.1.3 IoT

        1. 8.1.3.1 Current Market Scenario and Market Projections for the Forecast Period

        2. 8.1.3.2 Key Growth Influencers (Drivers, Challenges, and Opportunities)

        3. 8.1.3.3 Use Case Analysis

        4. 8.1.3.4 Market Outlook

      4. 8.1.4 Industrial Robotics

        1. 8.1.4.1 Current Market Scenario and Market Projections for the Forecast Period

        2. 8.1.4.2 Key Growth Influencers (Drivers, Challenges, and Opportunities)

        3. 8.1.4.3 Use Case Analysis

        4. 8.1.4.4 Market Outlook

      5. 8.1.5 Blockchain

        1. 8.1.5.1 Current Market Scenario and Market Projections for the Forecast Period

        2. 8.1.5.2 Key Growth Influencers (Drivers, Challenges, and Opportunities)

        3. 8.1.5.3 Market Outlook

      6. 8.1.6 Additive Manufacturing/3D Printing

        1. 8.1.6.1 Current Market Scenario and Market Projections for the Forecast Period

        2. 8.1.6.2 Key Growth Influencers (Drivers, Challenges, and Opportunities)

        3. 8.1.6.3 Use Case Analysis

        4. 8.1.6.4 Market Outlook

      7. 8.1.7 Cybersecurity

        1. 8.1.7.1 Current Market Scenario and Market Projections for the Forecast Period

        2. 8.1.7.2 Key Growth Influencers (Drivers, Challenges, and Opportunities)

        3. 8.1.7.3 Use Case Analysis

        4. 8.1.7.4 Market Outlook

      8. 8.1.8 Cloud and Edge Computing

        1. 8.1.8.1 Current Market Scenario and Market Projections for the Forecast Period

        2. 8.1.8.2 Key Growth Influencers (Drivers, Challenges, and Opportunities)

        3. 8.1.8.3 Use Case Analysis

        4. 8.1.8.4 Market Outlook

      9. 8.1.9 Others (digital twin, mobility, and connectivity)

        1. 8.1.9.1 Current Market Scenario and Market Projections for the Forecast Period

        2. 8.1.9.2 Key Growth Influencers (Drivers, Challenges, and Opportunities)

        3. 8.1.9.3 Market Breakdown by Type (Digital Twin, Mobility and Connectivity)

        4. 8.1.9.4 Use Case Analysis

        5. 8.1.9.5 Market Outlook

    2. 8.2 By End-User Industry

      1. 8.2.1 Manufacturing

      2. 8.2.2 Oil, Gas and Utilities

      3. 8.2.3 Retail & e-commerce

      4. 8.2.4 Transportation and Logistics

      5. 8.2.5 Healthcare

      6. 8.2.6 BFSI

      7. 8.2.7 Telecom and IT

      8. 8.2.8 Government and Public Sector

      9. 8.2.9 Others (Education, Media & Entertainment, Environment etc)

  9. 9. COMPETITIVE LANDSCAPE

    1. 9.1 Company Profiles*

      1. 9.1.1 Accenture PLC

      2. 9.1.2 Google LLC (Alphabet Inc.)

      3. 9.1.3 Siemens AG

      4. 9.1.4 IBM Corporation

      5. 9.1.5 Microsoft Corporation

      6. 9.1.6 Cognex Corporation

      7. 9.1.7 Hewlett Packard Enterprise

      8. 9.1.8 SAP SE

      9. 9.1.9 EMC Corporation (Dell EMC)

      10. 9.1.10 Oracle Corporation

      11. 9.1.11 Adobe Inc.

      12. 9.1.12 Amazon Web Services Inc. (Amazon.com Inc.)

      13. 9.1.13 Apple Inc.

      14. 9.1.14 Salesforce.com Inc.

      15. 9.1.15 Cisco Systems Inc.

  10. 10. KEY TRANSFORMATIVE TECHNOLOGIES

    1. 10.1 Quantum Computing

    2. 10.2 Manufacturing as a Service (MaaS)

    3. 10.3 Cognitive Process Automation

    4. 10.4 Nanotechnology

  11. 11. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Thailand Digital Transformation Industry Segmentation

Digital transformation is the process of incorporating digital technologies such as analytics, artificial intelligence and machine learning, extended reality (XR), Iot, industrial robotics, blockchain, additive manufacturing/3D printing, cybersecurity, cloud and edge computing, and others (digital Twin, mobility, and connectivity) in various end-user industries.

The Thailand digital transformation market is segmented by type (analytics, artificial intelligence, and machine learning, extended reality (XR), IoT, industrial robotics, blockchain, additive manufacturing/3d printing, cybersecurity, cloud, and edge computing, and others [digital twin, mobility, and connectivity]), end-user industry (manufacturing, oil, gas and utilities, retail & e-commerce, transportation and logistics, healthcare, BFSI, telecom and IT, government and public sector, and others). The market sizes and forecasts are provided in terms of value (USD) for the segments.

By Type
Analytics, Artificial Intelligence and Machine Learning
Current Market Scenario and Market Projections for the Forecast Period
Key Growth Influencers (Drivers, Challenges, and Opportunities)
Use Case Analysis
Market Outlook
Extended Reality (XR)
Current Market Scenario and Market Projections for the Forecast Period
Key Growth Influencers (Drivers, Challenges, and Opportunities)
Use Case Analysis
Market Outlook
IoT
Current Market Scenario and Market Projections for the Forecast Period
Key Growth Influencers (Drivers, Challenges, and Opportunities)
Use Case Analysis
Market Outlook
Industrial Robotics
Current Market Scenario and Market Projections for the Forecast Period
Key Growth Influencers (Drivers, Challenges, and Opportunities)
Use Case Analysis
Market Outlook
Blockchain
Current Market Scenario and Market Projections for the Forecast Period
Key Growth Influencers (Drivers, Challenges, and Opportunities)
Market Outlook
Additive Manufacturing/3D Printing
Current Market Scenario and Market Projections for the Forecast Period
Key Growth Influencers (Drivers, Challenges, and Opportunities)
Use Case Analysis
Market Outlook
Cybersecurity
Current Market Scenario and Market Projections for the Forecast Period
Key Growth Influencers (Drivers, Challenges, and Opportunities)
Use Case Analysis
Market Outlook
Cloud and Edge Computing
Current Market Scenario and Market Projections for the Forecast Period
Key Growth Influencers (Drivers, Challenges, and Opportunities)
Use Case Analysis
Market Outlook
Others (digital twin, mobility, and connectivity)
Current Market Scenario and Market Projections for the Forecast Period
Key Growth Influencers (Drivers, Challenges, and Opportunities)
Market Breakdown by Type (Digital Twin, Mobility and Connectivity)
Use Case Analysis
Market Outlook
By End-User Industry
Manufacturing
Oil, Gas and Utilities
Retail & e-commerce
Transportation and Logistics
Healthcare
BFSI
Telecom and IT
Government and Public Sector
Others (Education, Media & Entertainment, Environment etc)
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Thailand Digital Transformation Market Research FAQs

The Thailand Digital Transformation Market size is expected to reach USD 8.35 billion in 2024 and grow at a CAGR of 8.12% to reach USD 12.34 billion by 2029.

In 2024, the Thailand Digital Transformation Market size is expected to reach USD 8.35 billion.

Accenture PLC, Google LLC (Alphabet Inc.), Siemens AG, IBM Corporation and Microsoft Corporation are the major companies operating in the Thailand Digital Transformation Market.

In 2023, the Thailand Digital Transformation Market size was estimated at USD 7.67 billion. The report covers the Thailand Digital Transformation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Digital Transformation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Thailand Digital Transformation Industry Report

Statistics for the 2024 Thailand Digital Transformation market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand Digital Transformation analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Thailand Digital Transformation Market Report Snapshots

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Thailand Digital Transformation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)