Thailand’s software sector outperformed other digital sectors last year with a growth of 12.8%, earning 215 billion baht.
Main reasons were investment in advanced technology such as artificial intelligence (AI), data analytics, cloud computing, and cybersecurity, according to a survey by the Digital Economy Promotion Agency (Depa) and IMC Institute.
The software sector is projected to maintain a growth rate of 9-10% between 2024 and 2026.
The value of the four sectors — software, hardware and smart devices, digital services, and digital content — is projected to reach 2.94 trillion baht by 2026, driven by increasing demand for emerging technologies, particularly AI.
The digital industry was resilient in 2023, posting modest growth of 3.88% from 2022, totaling 2.02 trillion baht, Depa’s senior executive vice-president Kasititorn Pooparadai says.
The digital service sector expanded by 9.28% to 308 billion baht, while the hardware and smart device industry gained 1.76% to 1.46 trillion.
Digital content grew only 0.01% to 44.2 billion baht.
For 2024-2026, the hardware and smart device industry is expected to grow by 11-16%. Meanwhile, digital services are projected to gain 13-14% between 2024-25, then decline in 2026.
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