Thailand ICT Market Size (2024 - 2029)

The Thai ICT market is experiencing significant growth, driven by increased investments in hardware and software services. This expansion is supported by partnerships between the Thai government and IT companies to enhance digital infrastructure, including initiatives in cloud computing and digital transformation. The market's size is further bolstered by the rapid adoption of hybrid cloud environments, accelerated by the COVID-19 pandemic, as companies adapt to new work models. Key players are also focusing on expanding 5G networks, contributing to the overall growth trajectory of the ICT sector in Thailand.

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Market Size of Thailand ICT Industry

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Thailand ICT Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 7.50 %
Market Concentration Medium

Major Players

Thailand ICT Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Thailand ICT Market Analysis

The Thai ICT market revenue is expected to grow at a CAGR of 7.5% over the next five years. Global leaders like BM, Huawei Technologies, Cisco Systems, Dell Technologies, and Amazon dominate the Thai ICT market. The ICT market across the country is growing rapidly due to increased spending on hardware and software services.

  • According to the OECD (The Organisation for Economic Co-operation and Development), GDP grew by 3.5% in 2021. The county's GDP is growing significantly with increasing IT investments that would create new growth opportunities for the Thai ICT market.
  • The Thai government has partnered with IT companies to develop the digital infrastructure further. For instance, the Thai and Vietnamese governments signed a memorandum of understanding (MoU) to develop IT infrastructure, cloud computing, social network management, digital transformation, and the digital economy.
  • Key players in the ICT market have plans to expand their 5G network across urban and rural areas. For instance, Ericsson is partnering with King Mongkut University of Technology Thonburi (KMUTT) to support Thai students in building 5G ICT skills for the future.
  • Advancements in the IT sector will prevent the ICT market from cyberattacks. The Hybrid-cloud based platform secures the data stored in the system. For instance, Oracle offers hybrid cloud services in Thailand. Further, Dell Technologies plans to expand hybrid cloud services in Thailand.
  • The COVID-19 pandemic automatically forced IT companies in Thailand to quickly dial up their cloud computing deployments to support work-from-home employees. Post-COVID-19 cloud usage has been accelerating hybrid cloud environments to bring digital transformation initiatives in Thailand.

Thailand ICT Industry Segmentation

The Thai ICT market includes deep analysis of key technology investments such as cloud technologies, artificial Intelligence, and many more.

The Thai ICT market is segmented by type (hardware, software, IT services, and telecommunication services), size of enterprise (small and medium enterprise and large enterprise), and industry vertical (BFSI, IT & Telecom, government, retail, and e-commerce, manufacturing, energy and utilities and other industry verticals). The market sizes and forecasts are provided in terms of value in USD million for all the above segments.

By Type
Hardware
Software
IT Services
Telecommunication Services
By Size of Enterprise
Small and Medium Enterprises
Large Enterprises
By Industry Vertical
BFSI
IT and Telecom
Government
Retail and E-commerce
Manufacturing
Energy and Utilities
Other Industry Verticals
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Thailand ICT Market Size Summary

The Thai ICT market is experiencing robust growth, driven by increased investments in digital infrastructure and the adoption of advanced technologies such as cloud computing, AI, and 5G. Global leaders like IBM, Huawei Technologies, Cisco Systems, Dell Technologies, and Amazon are prominent in the market, contributing to its expansion through strategic partnerships and investments. The Thai government's initiatives, including collaborations with international tech companies and investments in digital transformation projects, are further propelling the market's growth. The demand for enhanced IT infrastructure agility and flexibility is also a key factor, with significant investments in data centers and network upgrades to support the rollout of 5G and other digital services.

The market's expansion is supported by the growing need for cloud-based solutions across various sectors, including BFSI, healthcare, and manufacturing, which are increasingly adopting these technologies for improved efficiency and security. The COVID-19 pandemic accelerated the shift towards cloud computing, with many companies enhancing their hybrid cloud environments to support remote work and digital transformation initiatives. Telecommunications companies are also investing in modernizing their networks and infrastructure to meet the rising demand for high-speed connectivity. As smartphone penetration and fixed broadband demand increase, the Thai ICT market is poised for continued growth, with key players actively expanding their presence and capabilities in the region.

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Thailand ICT Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Stakeholder Analysis

    3. 1.3 Industry Attractiveness-Porter's Five Force Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 MARKET DYNAMICS

      1. 1.4.1 Market Drivers

        1. 1.4.1.1 Rising Demand for 5G

        2. 1.4.1.2 Rising Need to Explore and Adopt Digital technologies and Initiatives

      2. 1.4.2 Market Restrain

        1. 1.4.2.1 Fragmented Nature of the Market and Growing Incidence of Data Breaches and Lack of Supporting Infrastructure

      3. 1.4.3 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Hardware

      2. 2.1.2 Software

      3. 2.1.3 IT Services

      4. 2.1.4 Telecommunication Services

    2. 2.2 By Size of Enterprise

      1. 2.2.1 Small and Medium Enterprises

      2. 2.2.2 Large Enterprises

    3. 2.3 By Industry Vertical

      1. 2.3.1 BFSI

      2. 2.3.2 IT and Telecom

      3. 2.3.3 Government

      4. 2.3.4 Retail and E-commerce

      5. 2.3.5 Manufacturing

      6. 2.3.6 Energy and Utilities

      7. 2.3.7 Other Industry Verticals

Thailand ICT Market Size FAQs

The Thailand ICT Market is projected to register a CAGR of 7.5% during the forecast period (2024-2029)

Cisco Systems, IBM, Huawei Technologies, Dell Technologies and Amazon are the major companies operating in the Thailand ICT Market.

Thailand ICT Report Snapshots

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