Market Size of Thailand ICT Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
