The Thailand Digital Transformation Survey Report
The Thailand Digital Transformation Survey Report 2023
Date: November 2023
Author: Narain Chutijirawong, Ph.D.
Executive Director | Clients & Industries
Executive Director | Consulting
Senior Consultant | Clients & Industries
Deloitte Thailand's Digital Transformation Survey has been conducted for 4 consecutive years (2020-2023), with the objective to examine the attitudes of digital transformation among companies.
The survey methodology includes both quantitative formats and additional in-depth interviews with C-suite survey respondents, beyond the questionnaire.
It was found that digital implementations varied annually between 2021-2023. Most companies rushed to implement digital initiatives in 2021 or early COVID-19 period. However, some companies cited unsuccessful improvement to business performance due to lack of experience and speed of implementation. Companies became more selective and strategic with the adoption during 2022-2023 with improved success rates from experience gained and better technology selection. The perceived digital transformation impact is moderate throughout 2023.
By nature, companies with technology at the core such as Technology, Media & Telecommunications industry along with consumer industry who compete to attract consumers are found to invest in digital transformation more than the others.
In addition, when comparing 2023 with 2022, it was found that a higher number of companies already implemented or planned to invest in technology, especially data analytics.
On further examination based on the professional level of respondents, C-suite level also mentioned reduced operational risk as a key successful result whereas non-executive level cited involved customer experience as an important effect, as non-executive level tends to work more closely with customers than C-suite level.
The key challenge moving forwards for digital transformation is a budget reservation from post COVID-19 economic recession, while a possible solution is IT outsourcing with cloud-based platforms for cost reduction. PDPA is also cited as another challenge due to data privacy concerns.