Key regions: United States, Japan, Germany, Australia, France
Thailand, known for its beautiful beaches and unique culture, is also an emerging market for eCommerce software.
Customer preferences: Thai customers have shown a strong inclination towards online shopping in recent years. The convenience of shopping from home, availability of a wide range of products, and attractive discounts are some of the factors driving the growth of the eCommerce software market in Thailand. Additionally, the rise of social media platforms has made it easier for customers to discover new products and make purchases directly from these platforms.
Trends in the market: One of the major trends in the eCommerce software market in Thailand is the increasing adoption of mobile commerce. With the majority of the population using smartphones, mobile commerce has become a popular way of shopping online. Another trend is the emergence of online marketplaces, where customers can find a variety of products from different sellers. This has led to increased competition among eCommerce software providers to offer better features and services to attract sellers to their platforms. Additionally, the use of artificial intelligence and machine learning is becoming more prevalent in eCommerce software to provide personalized recommendations to customers and improve the overall shopping experience.
Local special circumstances: The Thai government has been actively promoting the growth of the digital economy in the country. Initiatives such as the Thailand 4.0 policy, which aims to transform Thailand into a value-based economy, have led to increased investment in digital infrastructure and technology. Additionally, the rise of the middle class in Thailand has led to increased purchasing power and a growing demand for online shopping.
Underlying macroeconomic factors: Thailand's GDP has been steadily growing over the years, with a focus on exports and tourism. This has led to increased foreign investment and a favorable business environment for eCommerce software providers. Additionally, the country's young and tech-savvy population is driving the growth of the eCommerce software market in Thailand. However, the market still faces challenges such as logistics and payment systems, which need to be addressed for sustainable growth.
Data coverage:
The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).Modeling approach / Market size:
The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.Forecasts:
We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. 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.
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