Thailand IT And Security Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.78 Billion |
| Market Size (2029) | USD 15.71 Billion |
| CAGR (2024 - 2029) | 15.07 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Thailand IT And Security Market Analysis
The Thailand IT And Security Market size is estimated at USD 7.78 billion in 2024, and is expected to reach USD 15.71 billion by 2029, growing at a CAGR of 15.07% during the forecast period (2024-2029).
- Following the widespread proliferation of the Internet, Thailand is transitioning into a digital economy, opening up new revenue sources for several industries, including telecommunications service providers, digital entertainment and gaming, and consumer electronics.
- With digital transformation, organizations have become increasingly dependent on applications and extensions that make IT a critical competitive advantage for most organizations. Moreover, IT outsourcing has become more than a simple cost-reduction technique with cloud migrations and cloud service options. This new form is driven by organizational initiatives regarding business growth, customer experience, and competitive disruption.
- Several government initiatives to propel digital technology development and adoption are further supporting market growth. For instance, in November 2023, the Thai government and Google strategically collaborated to boost the country's digital competitiveness and accelerate artificial intelligence innovation. Through this agreement, both parties are expected to work jointly to implement four foundational pillars that are essential for the country to thrive in the AI economy. The agreement includes advancing digital infrastructure investments, promoting secure and responsible AI adoption to transform public service delivery, anchoring on cloud-first policies, and making digital skills more accessible to the country.
- Various governmental defense agencies and companies are moving more data to the cloud, designing new digital systems, and increasing the number of endpoints in their network infrastructure. As a result of their increasing reliance on third parties and service providers, attackers have new opportunities to penetrate supply chains.
- The increasing number of cyberattacks in the country, the increasing demand for digitalization and scalable IT Infrastructure, the rising need to tackle risks from third-party vendor risks, the evolution of MSSPs, and the adoption of a cloud-first strategy are driving the growth of cybersecurity solutions and services in the country. However, the shortage of skilled IT professionals to meet the demand leads to businesses having difficulty in their operations, challenging the market's growth in Thailand.
- The COVID-19 pandemic has accelerated the adoption of digital technologies and digital transformation initiatives across various end-user industries in the country. The rising investment in cloud computing, collaborative tools, and IT infrastructure-related solutions to ensure business connectivity resulted in increased reliance on digital technologies and remote work, which has heightened security concerns, resulting in increased demand for security solutions in the market.
Thailand IT And Security Market Trends
Cloud Security is Expected to Drive Market Growth
- Cloud computing services in Thailand have seen remarkable growth in recent years. The transformation is part of the government's attribution initiatives to promote digitalization and cloud technologies. Many industries in Thailand have adopted cloud computing to modernize their business processes and gain a competitive advantage in their respective markets.
- Cloud computing has become increasingly popular in Thailand due to the country's strong internet infrastructure and high-speed internet connections. Additionally, the expanding presence of local and international cloud service providers has given Thai businesses access to a diverse range of cloud-based solutions and services. As a result, the demand for cloud security across end-users is expected to increase over the forecast period to secure cloud environments and respond to rising cyber threats.
- In July 2023, Cloud Computing Solutions Co. Ltd (CCS), a cloud computing services provider, and Tencent Cloud, the cloud business of global technology company Tencent, signed an MoU to offer leading Cloud-AI solutions from Tencent Cloud for business enterprises, including IaaS, PaaS, and SaaS in Thailand. This partnership aims to boost customer trust and satisfaction with an after-sales service, driving business growth for companies of all sizes and industries in Thailand in the midst of digital transformation.
- Thailand is at the forefront of Asia's cloud adoption trend. According to a "The Next-Generation Cloud Strategy in Asia" survey from Alibaba Cloud, the adoption of cloud is rapidly increasing in Thailand. A vast majority of Thai businesses (95%) are expected to significantly increase investment in the cloud across countries like Indonesia (94%), the Philippines (91%), Hong Kong Special Administration (83%), and Singapore (83%). The survey results indicated that many businesses chose the public cloud based on reliable local support and a strong reputation for security. Such developments related to cloud technology and related trends are anticipated to create demand for cloud security over the coming years.
IT Hardware and Devices Are Expected to Hold a Significant Market Share
- Thailand has been actively promoting digital transformation across various sectors, including government, healthcare, education, and businesses. This push toward digitalization requires IT hardware and device investments to support modernization efforts and improve efficiency by streamlining business operations.
- During the pandemic, the Thai government recommended schools and universities conduct activities online, which resulted in tremendous demand for IT hardware and devices like desktops, tablets, and laptops. With the advent of a more inclusive digital world, devices such as tablets became necessity rather than a luxury, driving demand in the country.
- Thailand has been one of the most vibrant economies in the Association of Southeast Asian Nations (ASEAN) region. The country's IT sector has expanded; it is becoming increasingly attractive to foreign investors. Businesses and government agencies are increasingly going digital, and more consumers are becoming tech-savvy, increasing the demand for IT hardware and devices.
- The IT sector has been growing significantly in Thailand, driven by the increasing usage of technology, offering vast business potential to companies to meet the demands of sophisticated users. In July 2023, HP announced the shifting of production of consumer and commercial laptops to Thailand and Mexico to diversify the supply chain beyond China.
Thailand IT And Security Industry Overview
The Thai IT and security market is fragmented owing to several global players focusing on expanding their client base across the country and adopting both organic and inorganic growth strategies.
- March 2024: Sangfor Technologies, a key provider of Cloud Computing and Cybersecurity solutions, strategically partnered with VST ECS (Thailand) Co. Ltd to expand Sangfor's customer base in Thailand by leveraging VST ECS's expertise and experience in IT solution distribution, combined with Sangfor's technology.
- September 2023: Fujitsu Limited and Fujitsu Thailand Limited acquired Thailand-based SAP consultancy Innovation Consulting Services (ICS) and strengthened its capabilities in SAP consulting and managed services across the Asia-Pacific region. This was the seventh acquisition by Fujitsu Limited since 2021 as part of its programmatic merger and acquisition strategy to become a global leader in digital transformation.
- July 2023: HP announced its plan to shift production of millions of consumer and commercial laptops to Thailand and Mexico to diversify its PC supply chain beyond China.
Thailand IT And Security Market Leaders
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HP Inc.
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Samsung Electronics Co. Ltd
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Intel Corporation
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Dell Technologies Inc.
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Acer Inc.
*Disclaimer: Major Players sorted in no particular order
Thailand IT And Security Market News
- May 2024: Microsoft announced commitments to build new cloud and AI infrastructure in Thailand, provide AI skilling opportunities for more than 100,000 people, and support the country’s growing developer community. The commitments build on Microsoft’s MoU with the Thai Government to envision the nation’s digital-first, AI-powered future.
- November 2023: The technology giants, including Google, Microsoft, and Amazon Web Services (AWS), announced a plan to invest USD 8.46 billion in Thailand. The three companies are expected to invest in establishing data centers. AWS is expected to build a data center with a budget of USD 5 billion over 15 years, as stated by the Thai government.
IT in Thailand Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of the Impact of COVID-19 on the Industry
4.4 Coverage on major IT Imports and Exports - Thailand
4.5 Key Market Indicators in Thailand
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Demand for Digitalization and Scalable IT Infrastructure
5.1.2 Rapidly Increasing Cybersecurity Incidents and Regulations Requiring their Reporting
5.2 Market Restraints
5.2.1 Fragmented Nature of the Market and Growing Incidence of Data Breaches and Lack of Supporting Infrastructure
5.2.2 Lack of Cybersecurity Professionals
6. THAILAND IT MARKET SEGMENTATION
6.1 IT Hardware & Devices
6.1.1 Desktop
6.1.2 Laptop
6.1.3 Tablet
6.2 IT Software
6.2.1 Enterprise Software
6.2.2 Productivity Software
6.2.3 Application Development Software
6.2.4 System Infrastructure Software
6.3 IT Services
6.3.1 Business Process Outsourcing
6.3.2 IT Consulting and Implementation
6.3.3 IT Outsourcing
6.3.4 Other IT Services
7. THAILAND CYBER SECURITY MARKET SEGMENTATION
7.1 Cybersecurity Per-capita Spending
7.2 By Type
7.2.1 Cloud Security
7.2.2 Data Security
7.2.3 Identity Access Management
7.2.4 Network Security
7.2.5 Consumer Security
7.2.6 Infrastructure Protection
7.2.7 Other Types
8. COMPETITIVE LANDSCAPE
8.1 Company Profiles - List of Major IT Hardware Vendors
8.1.1 Simat Technologies Public Company Limited
8.1.2 Movaci Co. Ltd
8.1.3 Acer Inc.
8.1.4 Advice IT Infinite Company Ltd
8.1.5 HP Development Company LP
8.1.6 Samsung Electronics Co. Ltd
8.1.7 Intel Corporation
8.1.8 Dell Technologies Inc.
8.2 Company Profiles - List of Major IT Software Vendors
8.2.1 Outsourcify
8.2.2 Hire Quality Software Co. Ltd
8.2.3 Tech Curve AI and Innovations
8.2.4 Fujitsu Thailand Co. Ltd (Fujitsu Limited)
8.2.5 Movaci Co. Ltd
8.2.6 AppSquadz Software Pvt. Ltd
8.2.7 G-Able Co. Ltd
8.2.8 Microsoft Corporation
8.3 Company Profiles - List of Major IT Cybersecurity Vendors
8.3.1 IBM Corporation
8.3.2 Cisco Systems Inc.
8.3.3 Fujitsu Thailand Co. Ltd
8.3.4 Red Sky Digital Ventures Ltd
8.3.5 Info Security Consultant Co. Ltd
8.3.6 Dell Technologies Inc.
8.3.7 Fortinet Inc.
8.3.8 CGA Group Co. Ltd
8.3.9 Intel Security (Intel Corporation)
9. INVESTMENT ANALYSIS
10. FUTURE OF THE MARKET
Thailand IT And Security Industry Segmentation
As hacking incidents increase, the need to protect an organization's digital assets and network devices also increases. IT security is a set of cybersecurity strategies that prevent unauthorized access to organizational assets such as computers, networks, and data.
The report offers a comprehensive analysis of the Thai IT and security market. The market is segmented by IT hardware and devices, IT software (by type (enterprise software, productivity software, application development software, and system infrastructure software) and application (finance, IT and telecom, transport and logistics, and enterprises)), and IT services (business process outsourcing, IT consulting and implementation, and IT outsourcing). The Thai cybersecurity market is segmented by type (cloud security, data security, identity access management, network security, consumer security, and infrastructure protection). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| IT Hardware & Devices | |
| Desktop | |
| Laptop | |
| Tablet |
| IT Software | |
| Enterprise Software | |
| Productivity Software | |
| Application Development Software | |
| System Infrastructure Software |
| IT Services | |
| Business Process Outsourcing | |
| IT Consulting and Implementation | |
| IT Outsourcing | |
| Other IT Services |
IT in Thailand Market Research FAQs
How big is the Thailand IT And Security Market?
The Thailand IT And Security Market size is expected to reach USD 7.78 billion in 2024 and grow at a CAGR of 15.07% to reach USD 15.71 billion by 2029.
What is the current Thailand IT And Security Market size?
In 2024, the Thailand IT And Security Market size is expected to reach USD 7.78 billion.
Who are the key players in Thailand IT And Security Market?
HP Inc., Samsung Electronics Co. Ltd, Intel Corporation, Dell Technologies Inc. and Acer Inc. are the major companies operating in the Thailand IT And Security Market.
What years does this Thailand IT And Security Market cover, and what was the market size in 2023?
In 2023, the Thailand IT And Security Market size was estimated at USD 6.61 billion. The report covers the Thailand IT And Security Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand IT And Security Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
IT in Thailand Industry Report
Statistics for the 2024 Thailand IT And Security market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand IT And Security 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.
