IDC Reports 15.8% Local Currency Growth in 2H22 for Thailand’s Software Vendor Revenue at 38.5 Billion THB 2023

As businesses face increasing complexities, AI arises as the key to smarter decisions, superior customer service, and data optimization, not only to improve business insights but also to unleash development opportunities across industries.

Pioneers in this technological revolution, Thailand’s banking and finance sector employs AI in a variety of use cases, including customer service, fraud detection, risk assessment, and trading.

AI-powered solutions enable hyper-personalized product recommendations, virtual customer assistants, enhanced fraud detection capabilities, and improved credit score evaluations for more precise lending decisions.

The AI platform market in Thailand grew 46.3% annually in local currency.

IDC anticipates continued investment and advancements in artificial intelligence (AI) technology in Thailand, particularly since the Thai government intends to promote AI development and application by 2027 in order to improve the economy and quality of life.

As the nature of work has evolved and hybrid or remote work has become more prevalent, it has become increasingly difficult to enable employees to perform their work securely and effectively.

As organizations deploy a variety of endpoint devices with varying access end-user authorization policies, remote device management and security maintenance must be more complex than ever.

Organizations require tools capable of managing endpoint devices, ensuring security, and simplifying IT duties.

“Investment in endpoint management software has become essential for Thai businesses in order to provide seamless connections and secure access to all devices,” says Korkong.

As a result, software vendor revenue on the endpoint management software market increased by 33.7% in local currency during the second quarter of 2018.

In addition, due to the prevalence of remote work, the need for effective virtual collaboration tools among employees, clients, and partners has become paramount.

As a consequence of the COVID-19 pandemic, businesses have adopted collaborative applications that allow for virtual collaboration.

Notably, organizations in Thailand continue to invest in collaborative applications, as exemplified by a double-digit growth rate of 29.9% YoY in local currency for the collaborative application market in 2H22.

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