Top Fast Growing Tech Companies in Thailand

Thailand's technology industry has experienced a remarkable surge in recent years, driven by factors such as a supportive government, increased consumer demand, and rapidly evolving digital technologies. This article examines the key statistics from 2022, factors contributing to the growth and success of the industry, a comparison of each industry's growth to previous years, key trends including technological disruptions, challenges, and future outlook.

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99 GROUP426 +65 6464 0552

99 Group is a leading real estate technology company that operates real estate portals across South East Asia, specialising in digital property advertising.Headquartered in Singapore, it is currently operational in Singapore and Indonesia and employs over 350 employees.In Singapore, 99 Group operates 99.co, SRX.com.sg and iProperty.com.sg, while in Indonesia, it operates 99.co/id and Rumah123.com.Here at 99 Group, we know a property is the single largest financial decision - and affects how people accumulate wealth, raise their children, or even plan for retirement.More importantly, your property is a safe haven, and for most- where you return home to. That’s why it’s our goal to build the simplest and most trusted platform to help un-complicate the property journey and help 99% of homeseekers find their way home.We do this by working collectively to support the needs of property seekers every day. This commitment comes through in the development of powerful products and services for people to love and use.Whether it is on software and usability, on infrastructure and research or on powerful storytelling and delivery of meaningful insights — our work speaks volumes within the company, and throughout the community.If you’re curious, data-driven, and passionate about using tech to help people solve (arguably) the most important decision of their lives, we’d love to have you join the team! Visit 99.co/team for openings.

LAZADA19,893 +65 6282 6772

About Lazada Group Founded in 2012, Lazada Group is the leading eCommerce platform in Southeast Asia. We are accelerating progress in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam through commerce and technology. With the largest logistics and payments networks in the region, Lazada is a part of our consumers’ daily lives in the region and we aim to serve 300 million shoppers by 2030. Since 2016, Lazada is the Southeast Asia flagship platform of the Alibaba Group powered by its cutting-edge technology infrastructure.

TIKET.COM1,775 +62 804 150 0878

As we are striving to be the most loved Online Travel Agent (OTA) & lifestyle app, we invest in continuous innovation to simplify and revolutionize tourism using the technology that we build for more than 17 million of our growing users globally. We are the go-to online marketplace for product and services that covers flight, hotel, car rental, event and attractions, train, and airport transfer bookings. In 2019, we were announced as the fastest growing Online Travel Agent (OTA) in the world by SABRE. Globally, we are currently partnering with 85 airlines, more than 2.7 million hotel inventories (including 400+ exclusives across Hotels, Villas & Apartments), and more than 10,000 things to do (attractions, tours, etc) and events.Mau ke mana? Semua ada tiketnya!

ORION HEALTH751 +64 9 638 0600

At Orion Health our vision is to improve the healthcare experience for all.We are leading the change in digital health with health and care organizations to improve the wellbeing of every individual with our world leading Unified Healthcare Platform. Made up of a Digital Front Door, Digital Care Record, and Intelligence Platform - each underpinned by extensive health and social data sets, machine learning, and 30 years of innovation focused purely on improving global well-being. For more information visit www.orionhealth.com.

SAP107,829 +65 1800 225 5727

At SAP, our purpose is to help the world run better and improve people’s lives. Our promise is to innovate to help our customers run at their best. SAP is committed to helping every customer become a best-run business. We engineer solutions to fuel innovation, foster equality, and spread opportunity across borders and cultures. Together, with our customers and partners, we can transform industries, grow economies, lift up societies, and sustain our environment. #TheBestRunSAP privacy statement for followers: www.sap.com/sps

AUTODESK13,791 +65 8610 8565

Autodesk is changing how the world is designed and made. Our technology spans architecture, engineering, construction, product design, manufacturing, media, and entertainment, empowering innovators everywhere to solve challenges big and small. From greener buildings to smarter products to more mesmerizing blockbusters, Autodesk software helps our customers to design and make a better world for all. Over 100 million people use Autodesk software like AutoCAD, Revit, Maya, 3ds Max, Fusion 360, SketchBook, and more to unlock their creativity and solve important design, business and environmental challenges. Our software runs on both personal computers and mobile devices and taps the infinite computing power of the cloud to help teams around the world collaborate, design, simulate and fabricate their ideas in 3D. We provide exceptional compensation/benefit packages and we’d love for you to join us. We’re proud to be an equal opportunity employer and we consider all qualified applicants without regard to race, gender, disability, veteran status or other protected category. To see our culture in action, check out #AutodeskLife.We are headquartered in the San Francisco Bay Area and have more than 10,000 employees worldwide.

GRAB43,721 +65 6655 0005

Grab is Southeast Asia’s leading superapp, offering a suite of services consisting of deliveries, mobility, financial services, enterprise and others. Grabbers come from all over the world, and we are united by a common mission: to drive Southeast Asia forward by creating economic empowerment for everyone.At Grab, every Grabber is guided by The Grab Way, which explains our mission and the operating principles on how we can achieve it together. We call these principles the 4Hs: HeartWe work together as OneGrab to serve communities in Southeast AsiaHungerWe work to understand ground truths and drive improvements, big and smallHonourWe keep our word and steward our resources wisely to build and sustain trustHumilityWe are a constant work-in-progress, and we never stop learning to get better

NIELSEN28,517 +65 6672 6600

Nielsen shapes the world’s media and content as a global leader in audience insights, data and analytics. Through our understanding of people and their behaviors across all channels and platforms, we empower our clients with independent and actionable intelligence so they can connect and engage with their audiences—now and into the future.Nielsen operates around the world in more than 55 countries. Learn more at http://nlsn.co/6006JMfty and connect with us on social media (LinkedIn, Twitter, Facebook and Instagram).

RED HAT20,052 +65 6490 4200

Red Hat is the world’s leading provider of enterprise open source solutions, using a community-powered approach to deliver high-performing Linux, hybrid cloud, edge, and Kubernetes technologies.We hire creative, passionate people who are ready to contribute their ideas, help solve complex problems, and make an impact. Opportunities are open. Join us.

TRIMBLE INC.9,137 +65 6871 5878

Trimble is transforming the way the world works by delivering products and services that connect the physical and digital worlds. Core technologies in positioning, modeling, connectivity and data analytics enable customers to improve productivity, quality, safety and sustainability. From purpose-built products to enterprise lifecycle solutions, Trimble software, hardware and services are transforming industries such as agriculture, construction, geospatial and transportation. For more information about Trimble (NASDAQ:TRMB), visit: www.trimble.com.Trimble products are used in over 141 countries around the world. Employees in more than 30 countries, coupled with a highly capable network of dealers and distribution partners serve and support customers worldwide. As the market leader in most of our businesses, we offer a compelling value proposition to our customers based on productivity, return on investment and environmental stewardship. Come position yourself with an innovative industry leader and position yourself for success.Career opportunities here: http://fb.trmb.co/jobslkd Follow us on Twitter: https://twitter.com/TrimbleCorpNewsJoin us on Facebook:www.facebook.com/trimblecorporateSee us on YouTube: https://www.youtube.com/channel/UCD5r7hBRwI6NFc4izfm-ocg

UBER90,703 +65 6760 0989

We are Uber. The go-getters. The kind of people who are relentless about our mission to help people go anywhere and get anything and earn their way. Movement is what we power. It’s our lifeblood. It runs through our veins. It’s what gets us out of bed each morning. It pushes us to constantly reimagine how we can move better. For you. For all the places you want to go. For all the things you want to get. For all the ways you want to earn. Across the entire world. In real time. At the incredible speed of now.The idea for Uber was born on a snowy night in Paris in 2008, and ever since then our DNA of reimagination and reinvention carries on. We’ve grown into a global platform powering flexible earnings and the movement of people and things in ever expanding ways. We’ve gone from connecting rides on 4 wheels to 2 wheels to 18-wheel freight deliveries. From takeout meals to daily essentials to prescription drugs to just about anything you need at any time and earning your way. From drivers with background checks to real-time verification, safety is a top priority every single day. At Uber, the pursuit of reimagination is never finished, never stops, and is always just beginning.

TRAVELOKA3,172 +65 6911 8138

We don’t innovate for the sake of innovation, we utilize technology to simplify people’s lives so they can enjoy their lives better. That belief is what brought Traveloka to be the leading travel platform in Southeast Asia. Traveloka serves 20+ products that include comprehensive travel services. From transportations to accommodations, discovering nearby attractions, and insurance products to financial services, including the groundbreaking ‘Buy Now Pay Later’.With 100+ millions downloads in six countries across the SEA region, we aim to keep exploring for better innovations — all to fulfill our users’ travel aspirations so they can enjoy their lives, their way.

WORKDAY19,580 +65 6800 0600

Workday is a leading provider of enterprise cloud applications for finance and human resources, helping customers adapt and thrive in a changing world. Workday applications for financial management, human resources, planning, spend management, and analytics are built with artificial intelligence and machine learning at the core to help organizations around the world embrace the future of work. Workday is used by more than 10,000 organizations around the world and across industries – from medium-sized businesses to more than 50% of the Fortune 500.

ZALORA GROUP2,723 +65 3157 5555

ZALORA is Asia’s leading online fashion, beauty and lifestyle destination, part of Global Fashion Group. As one of the region’s pioneer large scale e-commerce platforms, ZALORA has established a strong presence throughout the region, particularly in Singapore, Indonesia, Malaysia, Brunei, the Philippines, Hong Kong, and in Taiwan, enjoying over 50 million monthly visits. With an extensive collection of top international and local brands, ZALORA is a curated platform, featuring all the things shoppers love in one place. Customers can discover authentic products from over 3000 brands across categories, from apparel, shoes, accessories, beauty, pre-loved, and lifestyle, including essentials and home & living products.As a customer-first brand, ZALORA is powered by a team of committed innovators, providing a seamless shopping experience across mobile, tablet, and desktop. With a broad network of logistical service, ZALORA is known for speedy and reliable deliveries, as well as offering multiple payment methods, including cash-on-delivery across its markets. ZALORA provides up to 30-day free returns and free delivery after a certain spend. ZALORA continues to delight shoppers with their unlimited next-day delivery subscription, ZNow, and give customers more value with ZALORA’s signature Cashback programme. ZALORA also made it easier for shoppers to buy products based on their style inspiration with ZALORA’s visual search function, Complete the Look and Get the Look feature!ZALORA prides itself to be an industry enabler through innovations like our data analytics platform, TRENDER, that provides brand partners valuable insights and 1SS (One-stock solution) a modular multi-channel e-commerce fulfillment service, allowing brand partners to consolidate their stocks in ZALORA’s e-fulfillment centres.Putting the customers and brand partners at the centre of our innovation, ZALORA is the online destination that connects everyone to the limitless world of e-commerce.

ZENDESK6,209 +65 6471 1019

Zendesk started the customer experience revolution in 2007 by enabling any business around the world to take their customer service online. Today, Zendesk is the champion of great service everywhere for everyone, and powers billions of conversations, connecting more than 100,000 brands with hundreds of millions of customers over telephony, chat, email, messaging, social channels, communities, review sites and help centers. Zendesk products are built with love to be loved. The company was conceived in Copenhagen, Denmark, built and grown in California, taken public in New York City, and today employs more than 4,000 people across the world.

SALESFORCE71,802 +65 6302 5700

👋 We’re Salesforce, the Customer Company.AI + Data + CRM = Customer Magic. ✨ Privacy Statement: http://www.salesforce.com/company/privacy/

GOOGLE280,364 +65 6521 8000

A problem isnt truly solved until its solved for all. Googlers build products that help create opportunities for everyone, whether down the street or across the globe. Bring your insight, imagination and a healthy disregard for the impossible. Bring everything that makes you unique. Together, we can build for everyone.Check out our career opportunities at careers.google.com.

SHOPBACK1,057 +65 9023 8418

ShopBack: For the winsThe ShopBack Group is Asia-Pacific’s leading shopping, rewards, and payments platform, serving over 38 million shoppers across ten markets.ShopBack was founded in 2014 and today, ShopBackers across the region continue to win over shoppers by constantly upping their game - be it rewards or meaningful experiences - such that shoppers can achieve a personal victory every time they use ShopBack.The Group powers over US$3.7 billion in annual sales for over 15,000 online and in-store merchant partners. In 2022, ShopBack launched ShopBack Pay and PayLater, extending the platforms offerings into financial services, providing shoppers responsible and convenient payment options at checkout.

CISCO99,533 +62 800 446237

Cisco (NASDAQ: CSCO) enables people to make powerful connections--whether in business, education, philanthropy, or creativity. Cisco hardware, software, and service offerings are used to create the Internet solutions that make networks possible--providing easy access to information anywhere, at any time. Cisco was founded in 1984 by a small group of computer scientists from Stanford University. Since the companys inception, Cisco engineers have been leaders in the development of Internet Protocol (IP)-based networking technologies. Today, with more than 71,000 employees worldwide, this tradition of innovation continues with industry-leading products and solutions in the companys core development areas of routing and switching, as well as in advanced technologies such as home networking, IP telephony, optical networking, security, storage area networking, and wireless technology. In addition to its products, Cisco provides a broad range of service offerings, including technical support and advanced services. Cisco sells its products and services, both directly through its own sales force as well as through its channel partners, to large enterprises, commercial businesses, service providers, and consumers.

INFOR19,544 +65 6594 7100

As a global leader in business cloud software specialized by industry. Infor develops complete solutions for its focus industries, including industrial manufacturing, distribution, healthcare, food & beverage, automotive, aerospace & defense, hospitality, and high tech. Infor’s mission-critical enterprise applications and services are designed to deliver sustainable operational advantages with security and faster time to value. Over 60,000 organizations in more than 175 countries rely on Infor’s 17,500 employees to help them achieve their business goals. To learn more, please visit www.infor.com. or check out all of our channels on https://linktr.ee/infor_erpInfor est un éditeur international qui propose des solutions logicielles pour gérer chaque aspect dune entreprise. Dédié à des secteurs dactivité spécifiques, Infor offre des suites complètes dans le cloud et déploie une technologie efficace qui privilégie lexpérience utilisateur, exploite la science des données et sintègre aisément aux systèmes existants. De la production à la santé et au commerce, nous couvrons tous les secteurs dactivité et avons des solutions ERP complètes soutenues par lintelligence artificielle. Plus de 60 000 entreprises dans plus de 175 pays font déjà confiance à Infor et a ses 17 500 employés pour les aider à atteindre leurs objectifs commerciaux. Pour en savoir plus, rendez-vous sur https://www.infor.com/fr-fr.

Top Fast Growing Tech Companies in Thailand

Key Statistics from 2022: GDP and Employment

In 2022, the technology sector's contribution to Thailand's Gross Domestic Product (GDP) grew by 9%, reaching THB 430 billion. This impressive growth rate underscores the industry's dynamic nature and its ability to adapt to the changing market landscape.

Employment in the technology sector increased significantly in 2022, with approximately 220,000 workers employed in the industry. This growth highlights the industry's role in providing stable job opportunities to the Thai workforce and driving economic development.

Factors Contributing to Growth and Success: Government Initiatives

The Thai government has played a crucial role in promoting the growth and success of the technology industry through various initiatives:

Policy support:

The government has implemented policies such as the Digital Economy Promotion Plan and the Thailand 4.0 policy, aimed at promoting digital innovation and fostering a tech-driven economy.

Investment incentives:

The government has offered tax breaks, low-interest loans, and other financial incentives to attract both domestic and foreign investment in the technology sector.

Infrastructure development:

The Thai government has invested in the development of high-speed internet infrastructure, data centers, and digital innovation hubs to support the growth of the technology industry.

Industry Growth: Comparison to Previous Years

The growth of Thailand's technology industry in 2022 significantly outpaced the average annual growth rate of 6.5% observed in the previous five years. This expansion can be attributed to several factors, including the increased adoption of digital technologies across various industries, the emergence of innovative tech startups, and the robust growth of e-commerce and fintech segments.

Key Trends: Technological Disruptions

Thailand's technology industry has embraced several technological disruptions to drive growth, innovation, and competitiveness. Some key trends include:

Artificial intelligence (AI) and machine learning:

The application of AI and machine learning in various industries, such as finance, healthcare, and manufacturing, has unlocked new opportunities and improved efficiency.

Internet of Things (IoT):

IoT technologies have been adopted across various sectors, enabling the development of smart cities, connected vehicles, and intelligent manufacturing.

Blockchain and digital currencies:

Blockchain technology has gained traction in Thailand, with applications ranging from supply chain management to financial services, while digital currencies have started to reshape the country's financial landscape.

Challenges

Despite the industry's robust growth and success, it faces several challenges:

Skilled labor shortages:

The technology industry faces a shortage of skilled professionals in areas such as software development, data analysis, and cybersecurity, which could hinder the industry's ability to maintain its competitive edge and drive innovation.

Regulatory barriers:

The technology industry is subject to complex and rapidly evolving regulations, which can create challenges for companies attempting to navigate the legal landscape.

Intellectual property protection:

The protection of intellectual property rights remains a concern for tech companies in Thailand, as the enforcement of intellectual property laws can be weak and inconsistent.

Future Outlook

The future outlook for Thailand's technology industry remains positive, driven by several factors:

Ongoing government support:

The Thai government's continued commitment to promoting digital innovation and fostering a tech-driven economy is expected to drive further growth in the sector.

Rapid digitalization:

The increasing digitalization of various industries and the expanding use of digital technologies among consumers are expected to fuel demand for innovative tech products and services.

Regional collaboration:

Thailand's participation in regional collaborations, such as the Association of Southeast Asian Nations (ASEAN) and the Asia-Pacific Economic Cooperation (APEC), will create opportunities for tech companies to expand their reach and tap into new markets.

Conclusion

Thailand's technology industry has shown remarkable growth and adaptability in recent years. Despite the challenges it faces, the industry's future remains bright, driven by strong government support, rapid digitalization, and an increasing demand for innovative tech solutions. By capitalizing on emerging opportunities and addressing the challenges, the Thai technology industry can continue to thrive and contribute significantly to the country's economic development.

To ensure sustained growth and competitiveness in the global market, the Thai technology industry should adopt the following strategies:

Investment in Research and Development (R&D):

Investing in R&D will enable the industry to develop innovative technologies and solutions that address the challenges of digitalization and drive growth.

Collaboration with Academia and Research Institutions:

The industry should strengthen its ties with academic institutions and research centers to foster knowledge exchange, drive innovation, and develop a skilled workforce with expertise in advanced digital technologies.

Expanding into Emerging Markets:

Thai tech companies should seize opportunities to expand their presence in emerging markets, particularly in Southeast Asia and other fast-growing regions, to capitalize on the increasing demand for tech products and services.

Embracing Regulatory Compliance:

Tech companies in Thailand should focus on understanding and complying with the complex regulatory environment to avoid potential legal and financial risks.

Strengthening Intellectual Property Protection:

Thai tech companies should work closely with the government and industry associations to improve the enforcement of intellectual property laws and protect their innovations.

By implementing these strategies, the Thai technology industry can continue to build on its success, overcome the challenges it faces, and maintain a strong position in the global market. As the industry continues to grow and evolve, it will play an increasingly significant role in driving economic development and creating employment opportunities in Thailand.

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By Melissa Goh
Published on 30 May 2023