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The market value of software and software services in Thailand was forecast to grow by **** percent in 2022, indicating the highest growth rate among other segments in the IT and digital market. This was followed by digital content and digital services segment. In Thailand, one of the fastest-growing digital services is digital advertising. Since online business channels have been showing success, digital advertising spending seemed to also increase on a yearly basis for various industries.

Digital advertising

Since the Thai government introduced the Thailand 4.0 economic model in 2016, digitalization became crucial in economic and commercial activities. Traditional advertisements on publications such as newspapers and magazines were reduced while digital advertising became a popular choice among marketers and advertisers. The expenditure of digital advertising in Thailand had been steadily increasing since 2012.

Leading spenders on digital advertising

Unsurprisingly, many sectors in Thailand have adapted their conventional advertising methods to correspond with the current digital economy. In 2020, the motor vehicle sector was the highest spender on digital advertising in Thailand, accounting for ** percent of the total digital advertising expenditure in the country. In addition, Facebook ads appeared to be the most popular platform for the motor vehicle sector to launch its digital advertisements in 2019.