Thailand’s digital economy experienced a growth rate of 14% in 2022, reaching a market value of 2.6 trillion baht, according to the Digital Economy Promotion Agency (DEPA). This growth can be attributed to changes in consumer behavior and advancements in technology.
Among the sectors, digital services saw the highest growth rate at 21%, with significant contributions from FinTech, Health Tech, and retail, resulting in a market value of nearly 300 billion baht. The software and software services industry also expanded significantly at 19%, projected to reach a value of approximately 270 billion baht in the coming years.
This signifies a notable shift towards full digitization in Thailand’s digital economy. The government’s initiatives to promote digital transformation and innovation, along with increased internet penetration and smartphone usage, have played pivotal roles in driving this growth.
As a result, businesses are increasingly adopting digital solutions to enhance their operations and effectively reach customers. Thailand is regarded as one of the most dynamic and rapidly growing digital markets in Southeast Asia, with an ongoing focus on digital transformation to bolster competitiveness, stability, security, and human capital.
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