Thailand ICT Market Analysis and Forecast, 2019-2028

Introduction

The Information and Communication Technology (ICT) market in Thailand has been growing rapidly in recent years, driven by the increasing adoption of technology in various industries and the growth of the e-commerce sector. The market is expected to continue to grow in the coming years, driven by factors such as the increasing use of smartphones, the growth of the e-commerce sector, and the increasing number of internet users in Thailand.

Market Size and Growth

The ICT market in Thailand is estimated to be worth over US$ 17.5 billion in 2022 and is expected to grow at a CAGR of 7% from 2023 to 2028. The market is driven by factors such as the increasing use of smartphones, the growth of the e-commerce sector, and the increasing number of internet users in Thailand.

Segmentation

The ICT market in Thailand can be segmented into different segments, including hardware, software, and services. The hardware segment is the largest segment, accounting for the majority of the market share.

Competitive Landscape

The ICT market in Thailand is highly competitive, with several local and international players operating in the market. The market is dominated by established players such as Samsung, Apple, and Huawei.

Opportunities and Challenges

The market presents several opportunities for growth, including the increasing adoption of technology in various industries and the growth of the e-commerce sector. However, the market also faces challenges such as the high cost of ICT products and services, and increasing competition from alternative technologies such as cloud computing.

Market Outlook

Overall, the ICT market in Thailand is expected to continue to grow in the coming years, driven by the increasing adoption of technology in various industries and the growth of the e-commerce sector. The market presents several opportunities for growth but also faces challenges such as the high cost of ICT products and services and increasing competition from alternative technologies.

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

Primary Intelligence

• RationalStat utilizes surveys, questionnaires, focus groups, and one-to-one interviews with CXOs, industry partners, trade bodies, association members, ex-employees, and industry professionals to collect insights and quantitative/qualitative data specific to client needs. RationalStat quickly gets to the ‘why’ behind the ‘what’ demonstrated by secondary data.
• RationalStat takes a unique approach to arrive at market conclusions and actionable insights for clients.
• We have the technology and strong in-house resource pool with extensive experience in the global and regional markets, across a wide variety of categories and stakeholders.
• Strong language proficiency and capability with coverage across more than 70 language areas.

Secondary Sources

• Annual reports, company filings, investor presentations, product catalogs, and company documents
• Industry and market-related documents available in the public domain
• Paid databases including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
• Whitepapers, research papers, and industry blogs.