Thailand’s IT expenditure projected to exceed 25 billion USD in 2022

Thailand's IT spending is expected to grow 6.4 percent annually to 871 billion THB (about 25.85 billion USD) next year with strong growth in enterprise software thanks to continued hybrid work and remote services, according to global research firm Gartner.

Enterprise software is projected to see the highest annual growth of 14.8 percent to 61.3 billion baht in 2022, followed by IT services and devices, which are forecast to grow 9.8 percent and 9 percent to 85.4 billion and 220 billion, respectively.

Communication service is expected to see the lowest growth of 3.8 percent, but would maintain the largest IT spending segment in the country at 483 billion THB or about half of the total market.

In 2021, Thailand's overall IT expenditure is expected to hit 819 billion THB, up 7.4 percent year-on-year.

"Enterprises will increasingly build new technologies and software, rather than buy and implement them, leading to overall slower spending levels in 2022 compared to 2021," said John-David Lovelock, distinguished research vice-president at Gartner, as quoted by the Bangkok Post./.

VNA