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4 Jun 2010

Industry

Software Industry, 2010: Thai Programs Penetrating Local and International Markets (Business Brief No.2838)

The government has placed some significance on creative industries, as a key strategy to drive our economy and society. This has helped highlight the software industry as a creative enterprise.
Although the domestic software market has achieved satisfactory growth, imported software has the largest market share. Thai software entrepreneurs have faced challenges penetrating the local market. Meanwhile, they want to enter to international market to increase income.
In 2010, KASIKORN RESEARCH CENTER (KResearch) expects that the home market turnover for software will be around THB67-70 billion, growing 4.5-8.6 percent over the 2.3-percent growth of 2009, wherein software earned a market turnover of THB64.365 billion. The export value will likely be valued at THB9-10 billion, growing 25.0-38.9 percent, against the 20-percent 2009 growth of around THB7.2 billion, due to higher demand coming from various industrial sectors. In addition, some increasing demand will exist for private home use. There will also be some state projects to aid Thai software acceptance locally and internationally.
At home, a bright future seems ahead for mobile application and embedded software for electronic devices where demand is increasing. As for enterprise software, entrepreneurs should seek opportunities in emerging markets, particularly SMEs, because demand there will be relatively high. Also, market expansion should begin with Asian markets because industrial development there will help spur demand on software.

To aid in market penetration, Thai entrepreneurs should implement marketing strategies based on price competition. Nevertheless, branding and after-sales services should be stressed, too. This will lead to products with added value, which would help support sustainable long-term growth.

Industry