Thailand: digital market industry value 2021

In 2021, the market value of digital industry in Thailand amounted to approximately 1.6 trillion Thai baht, which was an increase compared to the previous year. The digital subsectors under these figures include software products, hardware and smart devices, digital services, digital content, and telecommunication.

Digital transformation on Thailand’s digital industry

Thailand’s digital sector has been greatly impacted by the digital transformation resulting from the rapid digital adoption of businesses. Among the subsectors under Thailand’s digital industry, the digital services sector has shown the greatest expansion in recent years. Additionally, the recent COVID-19 pandemic has no doubt taken a huge role in driving this substantial growth since digital services have created more convenience in daily life from the difficulties that emerged from social distancing measures. This shift in consumer demand has forced businesses to optimize their operations by transitioning towards digital platforms, such as providing efficient e-transaction systems, switching up their e-retail interface, and focusing more on e-advertisements.

Digital in the Thailand 4.0 model

The Thailand 4.0 economic model has also contributed to the digital transformation in Thailand, familiarizing consumers and businesses with digital platforms. The economic model aims to create a ‘value-based economy’ through innovation and technology, with a plan to integrate conventional sectors with smart technology. Despite the goal to become an innovative and digitalized society, the forecast of the country’s digital sentiment score shows potential for greater digital penetration in many segments. This poses a challenge for the Thailand 4.0 scheme to be fully utilized but also presents the possibility of introducing new technologies for the conventional business sectors and consumers in Thailand.