In the early morning, in an industrial park near Bangkok, a batch of smart wearable devices are being assembled on the assembly line and are about to be sent to the European and American markets. This is just a microcosm of the rapid development of Thailand's smart device industry. In recent years, Thailand has achieved leapfrog growth in the field of smart devices by upgrading its digital infrastructure and integrating its industrial chain. It not only continues to expand its domestic market, but also plays an increasingly important role in global trade.

Continuous expansion of industrial scale

The average annual growth rate of Thailand's smart device industry is 11.68% from 2017 to 2025, and the market size is expected to be 408 billion Thai baht by 2025. Among them, smart homes and smart wearable devices are the two main forces, with market sizes reaching 95 billion baht and 11.4 billion baht respectively by 2024. The global smart device market also maintains high-speed growth, with an expected average annual growth rate of 15% from 2022 to 2030, demonstrating the overall vitality of the industry.

Dual growth of import and export

By 2025, Thailand's imports and exports of smart devices will both show significant growth. In terms of imports, the import value of smart wearable devices increased by 9.33% year-on-year, and the import value of smart home devices increased by 25.38%. The export performance is particularly impressive, with the export value of smart wearable devices increasing by 16.38% and the export value of smart home devices increasing significantly by 86.49%. At present, Thailand ranks ninth in the world in terms of the export scale of smart devices and 27th in the world in terms of imports, highlighting its position as a regional manufacturing and export hub.

Multi power driven development

The market growth is attributed to various factors, including the rise of energy-saving trends, expansion of 5G networks and digital infrastructure, aging society, promotion of low-carbon policies, standardization of components, and accelerated urbanization. These trends have collectively boosted the market demand for smart devices. At the same time, relevant departments in Thailand are promoting industrial upgrading from six directions: system integration, supply chain standardization, trade partnership, sustainable industry, domestic demand stimulation, and localized application, aiming to enhance enterprise competitiveness and seize opportunities for digital economy development.

Industry insiders believe that if Thailand can continue to systematically promote industrial upgrading, it will further enhance the country's competitiveness, not only better undertake opportunities in the digital economy, but also create new long-term development space for the manufacturing and export industries. In today's world of globalization and digitization, the rise of Thailand's smart device industry is injecting strong impetus into its economic transformation.Editor/Yang Meiling