Optimism Prevails In Thailand
Arenewed sense of optimism is prevailing in Thailand now that most Covid-related restrictions have been rolled back. The business realm in the country is oiling its engines again. Thanks to the ease of adopting the latest technologies, especially over the past three years, once-complex business problems now have simpler, faster solutions. As a result, new businesses are mushrooming across different marketplaces at a remarkable pace. We owe a lot to technologies becoming more plug & play, more driven by the cloud, and simpler to use. They make it easier to test ideas and move on faster if it fails.
It’s not a secret that the pandemic has been a tailwind to cloud adoption. In fact, many businesses were thrown into unprecedented predicaments and unexpectedly had an opportunity to reassess how they communicate within the organization and bank on their mission-critical technology applications. Most of them migrated to the cloud to ensure the delivery is resilient and consistent and the deliverables maintain a high level of quality. According to marketsandmarkets. com, the global cloud computing market size is expected to grow from $445.3 billion in 2021 to $947.3 billion by 2026 at a Compound Annual Growth Rate (CAGR) of 16.3 percent during the forecast period.
Technology services companies have played a significant role in enabling this migration across industries. The software-as-a-service (SaaS) industry in Asia has made the most of this favorable ecosystem. According to Statista, the SaaS segment in Asia is projected to grow by 12.99 percent (2023-2027), resulting in a market volume of $63.38bn in 2027. Additionally, the SaaS segment in Thailand is projected to grow by 9.00 percent (2023-2027), resulting in a market volume of $448.10m in 2027. It’s no secret that the country is betting big on technology.