Thailand's local IT industry grew 12.6% in the year 2006 and will likely grow a further 15% in the next year (2007), boosted mainly by a disbursement of govt.'s budget & stable prices of fuel, as per an industry executive.
Viboon Vongveerachaideja - President of Association of Thai Computer Manufacturing - said that the Information Technology industry enjoyed tremendous growth of about US$ 4 Billion in 2006, which was led by hardware and software products, computer services, & data communication equipments.
He further added that small and home offices, educational institutes, individual users, and state agencies will likely be the biggest buyers of IT products and services.
Thailand may now add US$ 1.9 Billion to its economy, produce 4,700 high salary technical jobs, as a result grow local industry revenues by US$ 1 billion, and generate US$ 74 million additionally in tax revenues.
Software is the key driving force for growth in IT sector, encompassing hardware & IT services. The country has taken initiatives for reducing software piracy, resulting in benefits for the industry. Now, job seekers have enhanced job opportunities, innovators have enhanced financial incentives, buyers have more options, businesses have more IT-related business opportunities, & govts. advantage from augmented tax revenues.
In the year 2004, growth rate in the IT industry of Thailand touched 11.8%, with the value of the industry reaching nearly US$ 2.5 Billion. The IT market of Thailand grew faster than that of Indonesia, Singapore, and Malaysia during the years 2004 & 2005.
Still, after observing this tremendous growth, the country's IT industry is suffering from problems such as insufficient manpower, since the industry's growth has outstripped IT professionals' number in the country.
Reduction in the rate of software piracy has aided in the growth of Thai IT industry. A ten-point reduction within four years during 2001 & 2005 is expected to further boost the growth of this sector by the year 2009.
In 2004, IT growth rate in Thailand reached 11.8%, worth around US $ 2.5 billion. It was predicted that in Thailand's IT market would grow faster than Indonesia, Malaysia and Singapore in 2004 and 2005, which has happened.
Still, after experiencing this rapid growth, the local IT industry in Thailand is facing a shortage of manpower, because the growth of the industry has outstripped the number of IT professionals.
"Development of Thai IT industry in the areas of telecommunication, software, electronics, and information can be achieved by decreasing imports levels of telecommunication, software equipments, and computers, and by expanding R&D activities in IT, so that competitiveness of this industry can be raised", said an analyst at RNCOS.
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