Thailand’s digital industry is projected to reach a value of 3 trillion baht by 2027, up from an expected 2.69 trillion baht in 2024, driven mainly by advancements in emerging technologies such as artificial intelligence (AI). This growth forecast is based on a survey and assessment conducted by the Digital Economy Promotion Agency (depa) and IMC Institute for 2024 and the next three years.
Kasama Kongsmak, interim senior EVP of depa, stated that from 2025 to 2027, digital services are expected to lead industry growth with annual increases of 10–14%. Meanwhile, hardware and smart devices are projected to grow by 6–7% annually, followed by software at 4–6% and digital content at 1–5%. These sectors collectively are forecasted to be worth around 3 trillion baht by 2027, propelled by the expanding influence of technologies like AI.
Last year, the digital industry grew by 23.4%, reaching 2.49 trillion baht. The hardware and smart devices sector saw the fastest growth, expanding by 26.6% to 1.85 trillion baht, driven by global economic recovery and increased demand. Thailand’s imports of smart devices rose 34.4% to 624 billion baht, while exports increased 23% to 1.22 trillion baht. Last year’s export growth has fueled speculation about potential US tariff hikes, prompting many US orders ahead of possible future tariffs.
In 2024, the software industry grew by 8.46%, with a total market value of 233 billion baht, including an 8.57% increase in software services and an 8.26% rise in software products. Domestic software use reached 173 billion baht, with exports at 2.63 billion baht and imports at 57.9 billion baht.
Digital services expanded by 19.5%, totaling 368 billion baht, with significant growth in e-retail (up 46.3%) and e-logistics (up 17.6%). The digital content industry grew by 14.4% to 50.6 billion baht, reflecting Thailand’s accelerating digital transformation and the increasing role of technology in the economy.
The industry also saw workforce growth, with software employment rising 23.8% last year to 175,254 people. Digital services provided jobs for 86,177 people, increasing by 6.23%, while hardware and smart devices employment declined by 5.05% to 305,875 due to automation and production restructuring.
The survey also highlights potential impacts of US import tariffs, which could affect Thailand’s exports and imports, especially in the hardware and smart device sectors. Despite these challenges, industry experts believe Thailand has significant growth potential, particularly amid ongoing US-China technological competition.