Thailand: IoT connections 2018-2028

In 2022, the number of Internet of Things (IoT) connections in Thailand amounted to around 113.7 million, an increase from approximately 99.77 million connections in the previous year. Statista Digital Market Insights estimated that the number of IoT connections will continue to increase and reach about 265.6 million by 2028.

IoT's impact on various sectors in Thailand

Over the past five years, there has been a significant increase in small and medium-sized enterprises (SMEs), hawkers, and farmers adopting smart solutions in Thailand. This trend shows a growing recognition of the benefits of implementing IoT technology, its efficiency, and sustainability. Furthermore, the Thai government approved an increasing number of smart city promotion zones. Such zones not only enhance urban progress but also attract investment, so both businesses and communities can benefit from digital advancements.

5G technology – the foundation for the IoT

The presence of a reliable and fast 5G network within the nation is crucial for a functional IoT network. Nonetheless, Thailand still lags behind other countries in the Asia-Pacific area in terms of 5G download speed. However, given the fact that 5G connection was just launched in the country, the availability of 5G networks in Thailand is already at a notable level of network availability, and coverage is predicted to grow in the future.

Number of Internet of Things (IoT) connections in Thailand from 2018 to 2028 (in million)

Characteristic	IoT connections in million
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Supplementary notes

Data provided by Statista Market Insights are estimates.

Definition:

The term Internet of Things (IoT) describes a network of physical and virtual devices that are able to communicate autonomously with each other using the Internet Protocol (IP). The physical devices are embedded with sensors, software and connectivity capabilities that enable them to collect and exchange data over the internet. Its scope encompasses a wide range of use cases from household objects to more complex industrial applications.

Structure:

The Internet of Things market consists of 7 different segments. Consumer IoT includes connected devices used by end users for personal purposes such as smart home devices. Smart Finance covers IoT applications used in financial sectors such as insurance telematics/usage-based insurance, real estate, ATMs. IoT in Healthcare covers all IoT applications in a healthcare setting such as the ones used for patient care, remote patient monitoring and surgeries. The Industrial IoT covers IoT applications in Industrial settings such as the factory & agriculture automation, supply chain optimization and predictive maintenance. Automotive IoT covers IoT use cases in mobility and transportation settings. Other IoT covers use cases not included in the previously mentioned markets.

Additional information:

The Internet of Things market compromise of revenue and revenue growth as the key performance indicators. The market consists of revenue generated through selling of hardware (such as sensors, chips and other hardware), platforms (IoT platforms, security software and other software), connectivity (cellular, LoRa, SigFox and other connectivity) and services (equipment & system integration and maintenance). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

The market is fragmented, but the key players in the market include Cisco (Cisco IoT platforms and software), Qualcomm, Dell EMC, and IBM.

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