Several foreign software firms have established offices in Thailand in 2023 in order to capitalize on the country’s continuing digital transformation and the consequent growing demand for local players. Thailand has also attracted large foreign data center and cloud service providers from the United States, Japan and China. A prominent example is the US producer of creative design tools and document management software Adobe, which opened an office in Thailand in February 2023. Thailand is already Adobe’s second-largest market in the region. Another technology player expanding in Thailand is Salesforce, which established a representative office in the country in July 2021 before upgrading to a full office in March 2023.
Thailand’s digital economy is projected to reach USD 57 billion by 2025, with close to USD 80 billion in economic value generated by digital transformation by 2030. Key market drivers include rising demand among businesses to digitally transform their organizations, the high potential of electric vehicles and smart cities in the country, and a focus on digital infrastructure resiliency. The country’s data center service market is expected to grow at a compound annual growth rate (CAGR) of 10.5% from 2018-30. In effect, Thailand attracts multinational firms expanding into the region because of its strategic location as well as its strong infrastructure, high redundancy for energy and power supply, government support, 5G services, and high digital consumer rates.
(Source: Bangkok Post)