Public Cloud - Thailand

Thailand

Revenue in the Public Cloud market is projected to reach US$1,872.00m in 2024.
Infrastructure as a Service dominates the market with a projected market volume of US$629.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 19.64%, resulting in a market volume of US$4,588.00m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$46.52 in 2024.
In global comparison, most revenue will be generated in the United States (US$388.50bn in 2024).

Key regions: United States, Germany, China, Japan, United Kingdom

Definition:

A public cloud is defined as the digital infrastructure and computing resources that are managed by a service provider. Examples of public cloud computing resources include virtual machines, storage, and services, all of which are available for purchase with flexible (e.g., pay as you go and subscription) business models. Such payment options make it possible for customers to access, scale, and utilize resources as needed. Public cloud solutions make it possible for users to save on IT costs, increase their efficiency, and take advantage of advanced technologies without having to invest in long-term IT solutions. Public cloud service providers own and maintain the physical infrastructure, hardware, and software. Users only need to pay for the computing resources that they require. The Public Cloud market refers to the companies that provide these cloud computing resources and services to individuals, businesses, and organizations.

Structure:

The Public Cloud market is structured into five markets based on the type of service models provided by the companies.

The Infrastructure as a Service (IaaS) market covers the resources and services related to the data center infrastructure.
The Platform as a Service (PaaS) market covers the resources and services related to the virtual environments used for software development.
The Software as a Service market (SaaS) market covers the resources and services related to software applications that can be accessed via a web browser.
The Business Process as a Service (BPaaS) market covers the resources and services related to the various business processes such as finance and accounting, human resources, customer service, and supply chain management, all delivered through the cloud.
The Desktop as a Service (DaaS) market covers the resources and services related to virtual desktop environments, which are accessible from any device with an internet connection.

Additional Information:

The public cloud market comprises revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players of the public cloud market include companies such as Amazon (Amazon web services), Microsoft (Azure), Google (Cloud), and IBM (Cloud).

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Analyst Opinion

The Public Cloud market in Thailand is experiencing considerable growth, driven by factors such as increasing adoption of digital technologies, growing awareness of the benefits of online services, and the convenience offered by cloud solutions. The market's growth rate can be attributed to the demand for Infrastructure, Platform, Software, Business Process, and Desktop as a Service. Factors such as cost-effectiveness, scalability, and flexibility are impacting this growth rate.

Customer preferences: The rise of e-commerce and online shopping has also significantly impacted consumer behavior in Thailand, leading to a growing demand for cloud-based retail solutions. With the increasing popularity of online shopping and the need for efficient inventory management and order fulfillment, retailers are turning to public cloud services to streamline their operations and enhance customer experience. This trend is expected to continue as more consumers embrace digital purchasing and businesses prioritize digitization in the post-pandemic era.

Trends in the market: In Thailand, the Public Cloud Market is experiencing a surge in demand for hybrid cloud solutions, as businesses look to optimize their IT infrastructure and reduce costs. This trend is expected to continue, as more companies realize the benefits of a hybrid approach, combining the flexibility of public cloud with the security of private cloud. This shift towards hybrid cloud also presents opportunities for cloud service providers to offer customized solutions and drive innovation in the market. Furthermore, with the government's push towards digital transformation, the adoption of public cloud services is likely to increase, providing a boost to the overall growth of the market.

Local special circumstances: In Thailand, the Public Cloud Market is experiencing rapid growth due to the country's favorable regulatory environment and strong government support for digital transformation. The increasing adoption of cloud-based solutions by both public and private sectors is also driving the market forward. Additionally, the country's strategic location and well-developed infrastructure make it an attractive destination for data centers, further supporting the growth of the market. The unique combination of these factors has positioned Thailand as a leading player in the Southeast Asian Public Cloud Market.

Underlying macroeconomic factors: The expansion of the Public Cloud Market in Thailand is impacted by macroeconomic factors such as government initiatives to promote digital transformation, favorable investment climate, and increasing adoption of cloud-based solutions by businesses. Thailand's strong economic growth, stable political environment, and supportive fiscal policies have also contributed to the growth of the market. Moreover, the rising demand for cost-effective and scalable IT solutions, along with the country's growing digital infrastructure, has further fueled the growth of the Public Cloud Market in Thailand.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and level of telecommunications infrastructure. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.