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Thailand: Survey: Big data analytics worth B13.6bn
The value of big data analytics business in Thailand this year is estimated at 13.6 billion baht, a 15% increase from 11.8 billion last year as more sectors spend on systems and related services.
The top three business sectors for big data analytics spending are finance and insurance, communications and logistics, and manufacturing.
The country’s first formal survey of big data business was carried out by the Digital Economy Promotion Agency (Depa) between June and August this year, finding the sector’s value is projected to reach 15.6 billion baht in 2019.
Kasama Kongsmak, vice-president of Depa, said the agency collaborated with IDC Thailand on the survey to monitor market trends as big data analytics is a core pillar of the government’s digital transformation roadmap.
“Information and data use grows everyday and can be reused in a smart way to increase business efficiency and promote innovation while reducing operation cost,” she said.
Ms Kasama said all business sectors have to learn better management and utilisation of big data to ensure they will not miss the digital economy train.
Tipyada Sricharoen, senior research manager for IDC Thailand, said IDC surveyed respondents from 95 corporations, comprising digital vendors, distributors, and system integrators of digital products and services.
“The survey was an insight discovery method that made all related big data value chains generate precise figures for the result,” said Ms Tipyada.
According to the survey, the total value of big data analytics in the country last year was 11.8 billion baht. Of the total value, 6.4 billion baht was from vendors, 4.4 billion from system integrators, and 906 million through distributors.
In 2017, Thai corporations spent 6.4 billion baht for IT and business service involving big data, 3.8 billion for software, and 1.5 billion for hardware.
The business sectors that spent the most for big data analytics deployment in 2017 were finance and insurance, at 4 billion baht, followed by communications and logistics (2.4 billion), manufacturing (1.8 billion), retail (1.4 billion), education and government (1.1 billion), public utilities (510 million), and healthcare (351 million).
Ms Tipyada said the value of the big data market in Thailand is expected to reach 13.6 billion by the end of this year, comprising 7.5 billion for business services, 4.3 billion for software and 1.6 billion for hardware.
In 2019, the value of the big data market is projected to grow to 15.6 billion baht, of which 9.2 billion is spending on IT and business services, 4.7 billion for software and the remaining 1.7 billion for hardware.
Ms Kasama said the number of big data analytics projects in the country should grow and become increasingly sophisticated in line with the development of the digital economy transformation.
In parallel, artificial intelligence will become a more critical facilitator for data scientists to keep up with massive increases in databases, especially for real-time analysis.
“The number of databases is expected to grow 10 times in the next two years, from 4.4 zettabytes [4,400 gigabytes] today to 44 zettabytes by 2020,” she said.
Source: https://www.bangkokpost.com/business/news/1543834/survey-big-data-analytics-worth-b13-6bn