The Crowdfunding market in Thailand has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Thai consumers are increasingly turning to crowdfunding as a means of supporting innovative projects and ideas. This is partly due to a desire to be part of the creative process and have a direct impact on the success of a project. Crowdfunding platforms provide a unique opportunity for individuals to contribute financially and emotionally to projects that align with their interests and values. Furthermore, the convenience and accessibility of online crowdfunding platforms have made it easier for individuals to participate in the market.
Trends in the market: One of the key trends in the Thai crowdfunding market is the rise of social and environmental projects. Thai consumers are becoming more conscious of social and environmental issues and are actively seeking out projects that address these concerns. Crowdfunding platforms have become a popular avenue for entrepreneurs and social enterprises to raise funds for projects that have a positive impact on society and the environment. This trend is likely to continue as more individuals become aware of the potential of crowdfunding to support projects with a social or environmental mission. Another trend in the market is the emergence of niche crowdfunding platforms catering to specific industries or causes. These platforms provide a targeted audience for entrepreneurs and project creators, increasing the chances of success. For example, there are crowdfunding platforms in Thailand that focus specifically on supporting creative projects, technology startups, and charitable causes. This trend reflects the growing diversity of projects seeking funding and the increasing demand for specialized crowdfunding platforms.
Local special circumstances: Thailand's vibrant startup ecosystem and entrepreneurial culture have contributed to the growth of the crowdfunding market. The country has seen a surge in the number of startups in recent years, with many entrepreneurs turning to crowdfunding as a way to finance their ventures. The government has also recognized the potential of crowdfunding to support innovation and has implemented supportive policies and regulations to encourage its growth. Furthermore, Thailand's growing middle class and increasing internet penetration have created a favorable environment for crowdfunding. The middle class has more disposable income to invest in projects they believe in, while the widespread use of smartphones and internet access has made it easier for individuals to discover and participate in crowdfunding campaigns.
Underlying macroeconomic factors: Thailand's strong economic growth and stable political environment have provided a solid foundation for the crowdfunding market. The country's GDP growth and rising income levels have increased the disposable income available for investment in crowdfunding projects. Additionally, the stable political environment has instilled confidence in both entrepreneurs and investors, encouraging them to participate in the crowdfunding market. In conclusion, the crowdfunding market in Thailand is experiencing significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Thai consumers are increasingly interested in supporting innovative projects, particularly those with a social or environmental focus. The emergence of niche crowdfunding platforms and Thailand's vibrant startup ecosystem have further fueled the growth of the market. With a strong economy and stable political environment, Thailand is well-positioned to continue its growth as a crowdfunding hub in the region.
Data coverage:
The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from 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, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. 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 are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.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 is considered at a country-specific level.
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