IT Consulting & Implementation - Thailand

Thailand

Revenue in the IT Consulting & Implementation market is projected to reach US$123.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.46%, resulting in a market volume of US$160.60m by 2029.
The average Spend per Employee in the IT Consulting & Implementation market is projected to reach US$3.06 in 2024.
In global comparison, most revenue will be generated in the United States (US$27,220.00m in 2024).

Key regions: Brazil, Netherlands, Spain, Italy, Japan

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Analyst Opinion

The IT Consulting & Implementation market in Thailand has been steadily growing in recent years, driven by various factors such as increasing demand for digital transformation, rising adoption of cloud computing, and the government's push towards a digital economy.

Customer preferences: Thai businesses are increasingly seeking IT consulting and implementation services to help them navigate the complex digital landscape. With the rise of e-commerce and digital marketing, companies are looking for ways to optimize their online presence and improve customer engagement. Additionally, the COVID-19 pandemic has accelerated the adoption of digital technologies, leading to increased demand for IT consulting and implementation services.

Trends in the market: One of the key trends in the IT Consulting & Implementation market in Thailand is the growing demand for cloud computing services. As more businesses shift their operations online, the need for scalable and flexible cloud solutions has become increasingly important. This has led to the emergence of cloud consulting and implementation services, which help businesses migrate to the cloud and optimize their cloud infrastructure.Another trend in the market is the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies. Thai businesses are looking for ways to leverage these technologies to gain a competitive advantage and improve operational efficiency. As a result, there has been a growing demand for AI and ML consulting and implementation services.

Local special circumstances: Thailand's digital economy is growing rapidly, driven by the government's push towards a digital transformation. The government has launched various initiatives to support the development of the digital economy, such as the Thailand 4.0 policy which aims to promote innovation and technology adoption in key industries. Additionally, the government has invested in infrastructure development, such as the Eastern Economic Corridor (EEC) project, which aims to create a high-tech industrial hub in the eastern region of Thailand.

Underlying macroeconomic factors: Thailand's economy has been growing steadily in recent years, with a GDP growth rate of around 2-3%. The country has a large and growing middle class, which is driving consumer spending and demand for digital services. Additionally, Thailand has a young and tech-savvy population, which is increasingly using digital technologies in their daily lives. These underlying macroeconomic factors are contributing to the growth of the IT Consulting & Implementation market in Thailand.

Methodology

Data coverage:

The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.

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 in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. 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 exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.

Additional notes:

The data is modeled using current exchange rates. 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.