Thailand IT And Security Market Size (2024 - 2029)

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 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.