Office Software - Thailand | Statista Market Forecast

Thailand is expected to witness significant growth in the Office Software market.
By 2024, the projected revenue is set to reach US$43.97m.
This upward trend is expected to continue, with an annual growth rate (CAGR 2024-2029) of 4.06%.
As a result, the market volume is estimated to reach US$53.64m by 2029.
When we compare these figures globally, it becomes evident that United States will generate the highest revenue in the Office Software market.
In 2024, United States is projected to generate a staggering US$15.24bn.
This not only highlights the dominance of the United States in this market but also emphasizes the potential for growth and opportunities in Thailand.
The demand for cloud-based office software solutions is rapidly increasing in Thailand, as businesses seek greater flexibility and cost-effectiveness.

Definition:

The Office Software market covers software applications that are used for productivity and work-related tasks in an office environment such as word processing, spreadsheet management, and presentation creation in both personal and professional environments.

Products in the Office Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Office Software market comprises revenue and revenue growth as the key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G).

Key players in this market include Microsoft and Google.

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Word-processing, such as Microsoft Word, LibreOffice, and Grammarly
Spreadsheet-software, such as Google Sheets, Microsoft Excel, and Zoho Sheet
Visualization software, such as Microsoft Power BI, Tableau, and Infogram
Consumer and enterprise spend, such as Airbase, Spendesk, and Procurify

Creative software, such as Adobe, Canva, and Apple
Free-of-charge software, such as Airtable, Anaplan, and BlackLine

The Office Software market in Thailand has been experiencing significant growth in recent years, driven by several factors that have contributed to the increasing demand for office software products in the country.

Customer preferences: Thai customers have shown a growing preference for cloud-based office software solutions, which offer greater flexibility and accessibility compared to traditional on-premise software. Additionally, there has been a shift towards mobile-first solutions, as more people rely on their smartphones and tablets for work-related tasks.

Trends in the market: The Office Software market in Thailand has seen a rise in the adoption of collaboration and productivity tools, such as project management software and team communication platforms. This trend has been driven by the increasing need for remote work solutions and the growing popularity of remote work arrangements. Furthermore, the rise of artificial intelligence and machine learning technologies has led to the development of more advanced office software products that can automate routine tasks and improve productivity.

Local special circumstances: Thailand's large and growing small and medium-sized enterprise (SME) sector has been a key driver of growth in the Office Software market. Many SMEs are adopting office software solutions to improve their operational efficiency and reduce costs. Additionally, the Thai government has been promoting the adoption of digital technologies in the country, which has helped to create a favorable environment for the growth of the Office Software market.

Underlying macroeconomic factors: Thailand's strong economic growth in recent years has contributed to the increasing demand for office software products in the country. Additionally, the country's growing middle class and expanding digital infrastructure have helped to create a large and growing market for office software products. Finally, the country's strategic location in Southeast Asia has made it an attractive destination for foreign investment, which has helped to fuel the growth of the Office Software market.

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.

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