61% of Thai economy to be ‘digitalised’ by 2022: IDC
IDC on Monday unveiled its top predictions for Thailand’s information-technology industry for this year and beyond, predicting that by 2022 more than 61 per cent of the country’s gross domestic product will be digitalised.
By that time, growth in every industry will be driven by digitally enhanced offerings, operations and relationships, driving US$72 billion (Bt2.25 trillion) in IT-related spending from 2019 through 2022, the Thai arm of the US-based market-intelligence company said.
IDC believes the digitalised economy will lead to more intense competition, especially when digital disruptors are heavily penetrating the local market.
Therefore, it urges business leaders to embrace emerging technologies in order to gain opportunities with the rise of the new digital-transformation economy.
Local organisations should move towards becoming digitally determined entities, which are organisations that demonstrate the ability to visualise how the markets and customers will change and reinvent themselves to better respond to the needs of these future stakeholders through new and emerging technologies, capabilities and business models.
“The race to reinvent is inevitable, and we foresee a steady growth in adoption of emerging technologies in the country, mainly because Thailand is working to improve economic growth by shifting its economy from an industry-driven country to one that is driven by high-tech innovations,” said Anchalee Sudechawongsakul, software market analyst for IDC Thailand.
“Innovation will continue to disrupt every industry and business leader should focus on technologies that enable business outcomes. This is the right time to realise that enabling the digital industry will drive other industries to grow as well,” the analyst added.