Enterprise Software - Thailand

  • Thailand
  • In 2024, the projected revenue in the Enterprise Software market in Thailand is expected to reach US$442.40m.
  • Among the various software segments, Customer Relationship Management Software dominates the market with a projected market volume of US$131.10m in 2024.
  • Looking ahead, the market is anticipated to witness a steady annual growth rate (CAGR 2024-2029) of 7.35%, resulting in a market volume of US$630.70m by 2029.
  • Furthermore, the average Spend per Employee in the Enterprise Software market is projected to reach US$10.99 in 2024.
  • In terms of global comparison, United States is expected to generate the highest revenue, amounting to US$150.50bn in 2024.
  • Thailand's enterprise software market is witnessing significant growth due to the country's increasing focus on digital transformation.

Key regions: France, United Kingdom, Australia, Canada, South Korea

 
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Analyst Opinion

Thailand has been experiencing a steady growth in its Enterprise Software market in recent years.

Customer preferences:
Thai businesses are increasingly adopting Enterprise Software solutions to optimize their operations and improve efficiency. Cloud-based solutions are becoming popular due to their flexibility and cost-effectiveness. Additionally, Thai companies are looking for software solutions that can be customized to meet their specific business needs.

Trends in the market:
The Enterprise Software market in Thailand is witnessing a rise in demand for Customer Relationship Management (CRM) software. This is due to the growing importance of customer engagement and retention in the highly competitive business landscape. Furthermore, the adoption of Artificial Intelligence (AI) and Machine Learning (ML) technologies is gaining traction in the market, as companies look to automate their workflows and improve decision-making processes.

Local special circumstances:
The Thai government's "Thailand 4.0" initiative, which aims to transform the country into a value-based economy, is driving the adoption of Enterprise Software solutions. The initiative focuses on leveraging technology and innovation to develop key industries such as agriculture, healthcare, and manufacturing. Additionally, the growing trend of remote work due to the COVID-19 pandemic has led to an increased demand for cloud-based software solutions.

Underlying macroeconomic factors:
Thailand's robust economic growth and stable political environment are contributing to the growth of the Enterprise Software market. The country's GDP has been steadily increasing over the past few years, and the government's efforts to attract foreign investment are further boosting the economy. Moreover, Thailand's strategic location in Southeast Asia makes it an attractive destination for businesses looking to expand their operations in the region.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

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 is considered at a country-specific level.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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