Software and digital services industry in Thailand is worth 300 billion baht; expected to grow 10% in 2024

Thailand’s software and digital services industry is booming, with a market value of more than 300 billion baht in 2021 and a projected growth of more than 10% in 2024, according to Statista . The industry encompasses a wide range of services, such as cloud-based software, games, e-books, websites, and streaming services.

One of the key drivers of the industry’s growth is the increasing demand for digital transformation and innovation from both public and private sectors, especially amid the COVID-19 pandemic. According to Dr. Nuttapon Nimmanphatcharin, president and CEO of the Digital Economy Promotion Agency (DEPA), Thailand has seen a surge in digital adoption and usage across various sectors, such as education, health care, e-commerce, and entertainment.

Another factor that contributes to the industry’s success is the availability of skilled talent and supportive policies from the government. Thailand has a large pool of software developers and engineers, as well as a vibrant startup ecosystem that fosters creativity and entrepreneurship. The government has also implemented various initiatives to promote the development of the digital economy, such as the Thailand 4.0 vision, the Digital Government Development Plan, and the Smart City project.

The software and digital services industry is expected to play a vital role in Thailand’s economic recovery and competitiveness in the post-pandemic era. As Dr. Nuttapon said, “Digital technology is not only a tool for survival, but also an opportunity for growth and transformation.”

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