Thailand Confident on Achieving Industry 4.0 Ambition Thailand is making great strides towards complete digitalization, taking it on the verge of being an Asian digital behemoth, according to the country’s Ministry of Foreign Affairs. “Industry 4.0, artificial intelligence (AI), e-payment and cutting-edge technology are all but part of the daily realities for most of those who live in the country. With a strong industrial policy that favors digitalization, Thailand is on the cusp of becoming the next Asian digital behemoth through its adoption of the 4.0 digital revolution,” the ministry said in a media statement. A vibrant startup ecosystem Thailand hosts an enabling ecosystem under which startups can thrive. In June 2021, the country has seen its first unicorn with Flash Group, an 18
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e-commerce logistics and delivery services provider Flash Express, after the company’s Series D+ and E funding raised more than US$150 million, shooting up its total value to more than US$1billion. There also are “half-unicorns” that are expected to join the coveted ranking soon. In short, the Thai economy looks set to be transformed into a cutting-edge economic powerhouse through digitalization. Last year, the country’s digital industry grew by more than 10% to reach US$20.6 billion. Digital content is a robust industry in Thailand with a total market value estimated at US$1.08 billion in 2020, driven by gaming, big data and animation industries. Moreover, Thailand’s overall Gross Merchandise Volume hit US$18 billion in 2020, a 7% year-on-year growth. Thailand’s digital economy will likely reach US$53 billion in value by 2025,
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according to a joint report on Southeast Asia’s e-economy published last year by Google, Temasek and Brain & Company. The Ministry of Digital Economy and Society has also fortified the capacity of local e-commerce, digital entertainment and food delivery platforms to keep up with the implosion of online shopping associated with the COVID-19 lockdown economy, in line with its Digital Economy Development Plan that began in 2016.
