The eServices market in Thailand has been experiencing significant growth in recent years, driven by the increasing adoption of digital technologies and changing consumer preferences.
Customer preferences: Thai consumers are increasingly turning to eServices for their convenience and efficiency. With the rapid expansion of internet connectivity and smartphone penetration in the country, consumers are embracing digital platforms for various services such as e-commerce, online banking, food delivery, and ride-hailing. This shift in consumer behavior is fueled by the desire for convenience, time savings, and access to a wider range of options.
Trends in the market: One of the key trends in the eServices market in Thailand is the rise of e-commerce. Online shopping has gained immense popularity among Thai consumers, with a growing number of people choosing to purchase products and services online. This trend is driven by factors such as the availability of a wide range of products, competitive pricing, and the convenience of doorstep delivery. Another emerging trend is the increasing demand for online food delivery services. Thai consumers, particularly urban dwellers, are increasingly relying on food delivery platforms to order meals from their favorite restaurants. This trend is driven by the busy lifestyles of consumers, the desire for a wider variety of food options, and the convenience of having meals delivered to their doorstep.
Local special circumstances: Thailand has a large and growing middle class, which is driving the demand for eServices. The country's middle class has been expanding rapidly in recent years, leading to increased disposable income and higher purchasing power. This has created a favorable environment for the growth of eServices, as consumers have more financial resources to spend on digital services. Additionally, the Thai government has been actively promoting the development of the digital economy. Initiatives such as the Thailand 4. 0 strategy and the Digital Economy and Society Development Plan have been implemented to drive digital transformation and foster innovation in the country. These government efforts have created a supportive environment for the growth of eServices, attracting both domestic and international players to the market.
Underlying macroeconomic factors: Thailand's strong economic growth and stable political environment have also contributed to the development of the eServices market. The country has experienced steady economic expansion in recent years, with a growing middle class and increasing urbanization. These factors have created a favorable consumer market for eServices, with a large and growing customer base. Furthermore, the high smartphone penetration rate in Thailand has played a crucial role in driving the growth of eServices. With a large portion of the population having access to smartphones and internet connectivity, consumers are able to easily access and use eServices on their mobile devices. This has led to increased adoption and usage of eServices across various sectors. In conclusion, the eServices market in Thailand is experiencing significant growth due to changing consumer preferences, the rise of e-commerce and online food delivery services, a growing middle class, government support for the digital economy, and favorable macroeconomic factors. These trends and circumstances are driving the adoption of eServices in Thailand and shaping the future of the market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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