Artificial Intelligence - Thailand

The Artificial Intelligence market in Thailand is witnessing rapid growth, fueled by factors such as increasing adoption of digital technologies, growing health consciousness among consumers, and the convenience of online health services. The market's elevated growth rate can be attributed to advancements in AI Robotics, Autonomous & Sensor Technology, Computer Vision, Machine Learning, Natural Language Processing, and Generative AI. Factors such as government initiatives, investments in research and development, and the presence of major players also contribute to the market's growth in Thailand.

Customer preferences: With the rise of technological advancements and increasing reliance on data-driven decision making, consumers in Thailand are increasingly seeking out AI-powered solutions for various aspects of their daily lives. This trend is especially evident in the healthcare sector, where there is a growing demand for AI-based tools and platforms that can assist with diagnosis, treatment, and even prevention of diseases. Additionally, there is a growing interest in AI-powered chatbots and virtual assistants, which provide personalized and convenient customer service experiences. This shift towards AI-driven solutions is driven by the desire for efficiency and accuracy, as well as the changing lifestyles and preferences of consumers in Thailand.

Trends in the market: In Thailand, the Artificial Intelligence market is experiencing a surge in demand for AI-powered chatbots and virtual assistants, especially in the banking and finance sector. This trend is expected to continue as businesses look for ways to streamline their operations and improve customer service. Furthermore, there is a growing interest in using AI for predictive analytics and data-driven decision making in industries such as healthcare and manufacturing. This trajectory towards AI adoption has significant implications for industry stakeholders, including increased efficiency, cost savings, and improved decision making. However, it also raises concerns about job displacement and the need for upskilling and reskilling of the workforce to keep up with the changing landscape. As AI continues to evolve and become more integrated into various industries, it is crucial for businesses and policymakers to stay updated and adapt to the latest trends to remain competitive in the market.

Local special circumstances: In Thailand, the Artificial Intelligence market is rapidly growing, driven by the country's strong investment in research and development, as well as its supportive government policies. Additionally, Thailand's strategic location in Southeast Asia offers a unique advantage for businesses looking to enter the regional market. The country's cultural emphasis on innovation and technological advancement further enhances its potential for AI development. However, strict data privacy laws and concerns over job displacement may pose challenges for the market's growth and adoption.

Underlying macroeconomic factors: The growth of the Artificial Intelligence Market in Thailand is largely impacted by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Thailand's strong economic growth and favorable regulatory environment have made it a prime location for companies to invest in AI technologies. Furthermore, the country's focus on developing its digital economy and promoting innovation has created a conducive environment for the growth of the AI market. Additionally, the increasing demand for AI solutions in various industries, such as healthcare, finance, and manufacturing, is also driving market growth in Thailand.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet 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 to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.