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Thailand’s digital economy grew by 14% in 2022
Thailand’s digital economy has grown by 14% in 2022, reaching a market value of 2.6 trillion baht, according to the Digital Economy Promotion Agency (DEPA).
Key Takeaways
- Thailand’s digital economy grew by 14% in 2022, reaching a market value of 2.6 trillion baht, driven by changes in consumer behavior and technological advancements.
- The digital services sector experienced the highest growth rate at 21%, with FinTech, Health Tech, and retail contributing significantly to its market value of nearly 300 billion baht.
- The software and software services industry also saw significant expansion at 19%, projected to reach a value of around 270 billion baht in the coming years, highlighting the country’s comprehensive shift towards digitization.
The growth is driven by changes in consumer behavior and technological advancements. The digital services sector saw the highest growth at 21%, with FinTech, Health Tech, and retail contributing to a market value of nearly 300 billion baht.
The software and software services industry expanded by 19%, and it is projected to reach a value of around 270 billion baht by 2023-2025. This indicates a significant shift towards full digitization in Thailand’s digital economy and related sectors.
Thailand’s digital economy has grown by 14% in 2022, reaching a market value of 2.6 trillion baht, according to the Digital Economy Promotion Agency (DEPA). The growth is driven by changes in consumer behavior and technological advancements. The digital services sector saw the highest growth at 21%, with FinTech, Health Tech, and retail contributing to a market value of nearly 300 billion baht.
This growth indicates a significant shift towards full digitization in Thailand’s digital economy and related sectors. The government’s initiatives to promote digital transformation and innovation have played a crucial role in driving this growth. Additionally, increased internet penetration and smartphone usage have contributed to the rapid expansion of the digital economy. As a result, businesses are increasingly adopting digital solutions to enhance their operations and reach customers more effectively.
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