This blog will show you about the new Digital Technology in Thailand, the trends, the future prospects and much more. So, let us get started.
New Digital Technology in Thailand: The next Big Giant in the World of Digital Technology
When we think of major tech hubs in the world we think of countries like the US, China, India, and Japan. But did you know that there is a new kid on the block? And it is none other than Thailand and it will leave you amazed as this blog will show you about the new digital technology in Thailand.
For those of us living in the first world, it may seem like everything is already digital and technology is everywhere, but for a greater part of the world, the digital revolution is only beginning. This is especially true for developing nations like Thailand which are using e-commerce and digital technology to modernize and develop at an exponential rate.
In this blog, we will show you more about the new Digital Technology in Thailand and see how Thailand is powering this digital revolution, helping create so many startups and in the process becoming a tech powerhouse. We will also look at the advantages of being a tech entrepreneur in Thailand as well as explore the challenges that tech companies face.
Spectrum of Digital Technology in Thailand
When it comes to innovation in digital technology, there is no specific field that Thailand is focusing on, rather, it has its fingers in every pie. From creating new startups to incubating the old ones, from making e-commerce the main industry in the country to working on technology like the Internet of Things (IoT), Artificial Intelligence AI, and 5G, Thailand is hard at work.
Rise of the E-commerce scene
The West may have better economies and may lead the East in tech innovation but one thing that the East always beats them in is the ability to produce goods at cheaper and faster rates. Asia is home to many of the biggest factories and production hubs in the world and Thailand is no different in that respect.
Now more than ever the country is focusing on utilizing platforms like Amazon, Alibaba, and others like it to sell their goods around the world, grow their e-commerce industry like never before, and reach out to new markets that they previously never had access to.
The Growing FinTech Industry
With a rising E-commerce industry, you also need a flourishing FinTech industry as they both go hand in hand. For the E-commerce industry to grow you need to have a digital payment system that is conducive to its growth. You need to rely more on digital payments and move towards a more cashless society.
As this blog will show you about the new digital technology in Thailand, this is exactly what is happening in Thailand as they are not only going cashless on a local level but also making the transfer of payment inside and outside the country easier and faster.
Home Grown Startup Revolution
An important sign of growth in the digital sector is when you see tons of startups popping up around you. It shows that you have a healthy economy and an economy that is focused on technology and digitization. This is exactly what you will see in Thailand as not only locals in Thailand are creating startups but people from other countries are also choosing to move their startups to Thailand.
Front and Center in New Technology
Almost every developing nation focuses on its E-commerce and digital sector but you know you have really made it when you focus on technologies that are still in the developing phase. Technologies that have yet to yield their full potential and are still in the developmental phase.
Technologies like Artificial Intelligence and the Internet of Things are still in the development phase. But Thailand is already using them and integrating them into its public and private sectors so that it can be an industry leader and an example for other countries when these technologies become mainstream.
Developing 5G and larger Communication Network
If there is one industry that all your other industries are dependent on it is the telecom industry. If your country doesn’t have a good and modern communication sector, you cannot develop other industries like E-commerce, Fintech, and your larger digital industry.
While many other developing nations are still in the initial phase of rolling out 5G networks, Thailand already has 5G coverage in the majority of the country with the majority of the public having access to fast and most importantly cheap internet.
Government Initiative and Thailand 4.0
It was back in 2016 when Thailand rolled out its Thailand 4.0 development program. This is the fourth stage of its larger national development program and focuses on innovation and technology and after years of work, it is bearing fruit. You can see the impact of this program in many sectors of the country.
Focus on Education Services
To have a homegrown tech sector you need to have a population that is well-versed in digital technology and the best way to do this is through education. Thailand has been doing this by focusing on educating its youth in engineering and information technology and by giving them the skills they need to thrive in this sector.
Not only this but they are implementing technology into the way education is given. Programs like E-learning and remote learning, programs that were made necessary during the pandemic. Yet even now after the pandemic, these programs continue to help educate the masses.
Revolutionizing the Healthcare Sector
Another sector that saw a rise during the pandemic is telemedicine. What was a necessity back in the pandemic has now become a blessing as people can get access to health care remotely and doctors and medical personal can reach out to people who were previously difficult to reach.
The Outside Force that is Driving Digital Technology Revolution in Thailand
Another force that is revolutionizing the tech industry in Thailand is the digital nomads. Thailand has always been a favorite tourist destination for foreigners, particularly from the west. Now more and more Westerners are choosing to stay in Thailand and work remotely.
They do this because not only is Thailand cheaper to live in, but also gives them the aura of a year-round vacation, and by living here they are imparting their technical skills to the locals and helping local startups to grow and flourish.
Top Tech Companies in Thailand
While this blog will you about the new digital technology in Thailand it would be remiss to not talk about some of the top tech companies operating in Thailand. So here is a list of some of the major companies.
- AppsFlyer: AppsFlyer has been making strands in the digital sector by creating apps for both IOS and Android platforms and one of the many cities that it’s operating in includes Bangkok.
- Sertis: When it comes to companies working on AI technology in Thailand, Sertis is the name that is on every tongue, not just in Thailand but the rest of the world as well.
- iConext Co.: This company is revolutionizing the IT sector in Thailand through new innovations, while also providing IT solutions and customer services to its clients.
- Orvio: In the healthcare sector it is Orvio that is making headways in Thailand and not only is it working on new technology but actively integrating the existing technology into the public sector.
Advantages of operating in Thailand
The biggest advantage that Thailand has in terms of innovation and technology is that its government is highly focused on developing these sectors, which is always a good sign for startups and companies as they can operate more freely and effectively.
Secondly, Thailand is very cheap, and companies that would otherwise have to spend large amounts if they operate in a first-world country can just move to Thailand and spend that money on research and development. Th
Challenges of operating in Thailand
With the many advantages that come, there are challenges as well. While the government is conducive to the tech sector it is also very authoritarian, which can be a cause of concern for many companies as it hinders their ability to operate.
Secondly, we should not forget that Thailand is still a developing country, and as such its infrastructure lacks many of the amenities that one may find easily in a first-world country.
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Frequently Asked Questions
How is the government of Thailand developing its tech sector?
As this blog will show you about the new digital technology in Thailand the government of Thailand is developing its tech sector through initiatives like Thailand 4.0 and you can read more about it above in the blog.
What is Thailand 4.0?
Thailand 4.0 is the fourth part of a government initiative to develop its tech and industrial sectors as mentioned above in the blog in greater detail.
Why is Thailand a good place for startups?
One of the many reasons that make Thailand a good place for startups is the cheap cost of living and operating there. For more reasons, please read the entire article.
Why are Westerners moving into Thailand?
The Westerners moving into Thailand is part of the digital nomad concept, where people from these countries choose to live in exotic countries and work remotely.