Thai Software Sector Sees 12.8% Growth in 2023
In 2023, Thailand's software sector experienced remarkable growth of 12.8%, reaching a market value of 215 billion baht. This growth is driven by investments in advanced technologies such as artificial intelligence and cloud computing. Overall, the digital industry showed resilience with a modest growth of 3.88%, largely driven by the e-logistics sector.
In 2023, Thailand's software sector experienced remarkable growth of 12.8%, reaching a market value of 215 billion baht, according to a survey by the Digital Economy Promotion Agency (Depa) and IMC Institute.
The sector's growth is attributed to significant investments in advanced technologies like artificial intelligence, data analytics, cloud computing, and cybersecurity.
Looking forward, the software industry is expected to maintain a growth rate of 9-10% annually between 2024 and 2026.
Overall, the combined value of four key digital sectors—software, hardware and smart devices, digital services, and digital content—is projected to reach 2.94 trillion baht by 2026.
Despite global economic uncertainties, the digital industry showed resilience in 2023 with a modest growth of 3.88%, reaching a value of 2.02 trillion baht.
While digital services grew by 9.28%, and hardware and smart devices saw a 1.76% increase, digital content grew marginally by 0.01%.
Future projections estimate 11-16% growth in hardware and 13-14% in digital services through 2025, with digital content growing 3-5%.
The survey noted the local software industry grew by 14.9% to 159 billion baht, while exports decreased by 1.63% to 2.41 billion baht.
Imports of smart devices surged by 52.7%, reaching 176 billion baht.
The global economic slowdown and saturation in computer demand present challenges to future growth.
However, the e-logistics sector experienced a significant personnel increase, reflecting its market lead.
Other sectors witnessed stable employment due to cautious hiring in a globally uncertain economic climate.
The sector's growth is attributed to significant investments in advanced technologies like artificial intelligence, data analytics, cloud computing, and cybersecurity.
Looking forward, the software industry is expected to maintain a growth rate of 9-10% annually between 2024 and 2026.
Overall, the combined value of four key digital sectors—software, hardware and smart devices, digital services, and digital content—is projected to reach 2.94 trillion baht by 2026.
Despite global economic uncertainties, the digital industry showed resilience in 2023 with a modest growth of 3.88%, reaching a value of 2.02 trillion baht.
While digital services grew by 9.28%, and hardware and smart devices saw a 1.76% increase, digital content grew marginally by 0.01%.
Future projections estimate 11-16% growth in hardware and 13-14% in digital services through 2025, with digital content growing 3-5%.
The survey noted the local software industry grew by 14.9% to 159 billion baht, while exports decreased by 1.63% to 2.41 billion baht.
Imports of smart devices surged by 52.7%, reaching 176 billion baht.
The global economic slowdown and saturation in computer demand present challenges to future growth.
However, the e-logistics sector experienced a significant personnel increase, reflecting its market lead.
Other sectors witnessed stable employment due to cautious hiring in a globally uncertain economic climate.
