Industry: ICT & Media | Publish Date: 29-Jun-2024 | No of Pages: 135 | No. of Tables: 101 | No. of Figures: 46 | Format: PDF | Report Code : N/A
The Thailand Digital Marketplace Market size was valued at USD 10.01 billion in 2023, and is predicted to reach USD 18.69 billion by 2030, at a CAGR of 9.2% from 2024 to 2030. Digital marketplace market, also known interchangeably as online marketplaces or digital commerce platforms, function as virtual hubs where individuals engage in buying or selling goods, services, or information. These platforms serve as intermediaries, facilitating transactions between various parties, including buyers and sellers, within a centralized online environment tailored for effortless product discovery, purchasing, and delivery. Notable examples of online marketplaces encompass well-established e-commerce platforms such as Amazon, eBay, and Alibaba, as well as service-oriented platforms such as Upwork and Fiverr.
Leveraging sophisticated technology, these platforms streamline transaction processes, ensuring prompt and secure payment processing while safeguarding the financial data of all involved parties. Additionally, they enrich user experiences by offering features such as customer reviews, ratings, and mechanisms for resolving transaction-related issues. Consequently, online marketplaces utilize technology to enhance the overall online shopping experience, making it more convenient and secure for both buyers and sellers. They play an indispensable role in the modern economy by bridging the gap between businesses and consumers across different geographic locations, thereby enabling seamless and convenient global commerce.
The growth of e-commerce and mobile devices in Thailand significantly propels the digital marketplace market in the country. According to the E-Commerce Association, Thailand's e-commerce market value is forecasted to reach USD 32 billion in 2025. Mobile devices play a pivotal role in this growth, contributing to over 80% of total online sales, with mobile wallets accounting for 23% of all transactions.
With Thailand's total mobile wallet adoption expected to reach 63% by 2025, the increasing reliance on mobile devices for e-commerce transactions underscores the significance of online marketplaces in meeting the evolving preferences of Thai consumers. This data underscores the immense opportunity for digital commerce platform thrive in Thailand's rapidly expanding e-commerce landscape, fostering innovation and competition in the market.
The widespread adoption of mobile devices is a driving force behind the Thailand digital marketplaces market growth. With mobile devices playing a crucial role in facilitating e-commerce transactions, accounting for over 80% of total online sales and with mobile wallets representing 23% of all transactions, their significance cannot be overstated.
As Thailand's total mobile wallet adoption is projected to reach 63% by 2025, the increasing reliance on mobile devices underscores the pivotal role of online marketplaces in catering to the changing preferences of Thai consumers. This trend highlights the substantial opportunity for online marketplaces to flourish in Thailand's rapidly evolving e-commerce landscape, fostering innovation and competition within the market.
Challenges stemming from cybersecurity threats and consumer trust issues hinder the expansion of the market. When consumers perceive online platforms as vulnerable to cyberattacks, they abstain from sharing personal information or conducting transactions due to concerns about privacy breaches or financial harm.
This led to reduced usage of digital marketplaces and reluctance to engage in online shopping, thereby impeding market growth. Additionally, incidents of data breaches or fraudulent activities damage the reputation of online marketplaces, discouraging both consumers and businesses from active participation in the online marketplace environment.
The incorporation of Augmented Reality (AR) and Virtual Reality (VR) technologies presents an opportunity for online marketplaces to enhance user experiences. By integrating AR and VR, digital marketplaces can offer users immersive and interactive shopping experiences.
These technologies enable consumers to visualize products in real-world settings, virtually try them before making a purchase, and explore dynamic virtual environments. Such immersive experiences not only increase customer engagement and foster brand loyalty but also drive sales.
Moreover, AR and VR empower businesses to effectively showcase their products by providing detailed information and personalized recommendations to users. Thus, the integration virtual beings technologies can revolutionize the future of online marketplaces by delivering innovative and compelling shopping experiences.
The key market players operating in the Thailand digital marketplace industry include Amazon.com, Inc., Walmart Inc., eBay Inc., Alibaba Group Holding Limited, Rakuten Group, Inc., Sea Limited, MercadoLibre, Inc., JD.com, Inc., Etsy, Inc., Allegro.eu, Kogan.com, SEEK, Carsales, REA Group Ltd., Airtasker Ltd. and others.
Desktop
Mobile
Tablets
Business to Business (B2B)
Business to Consumer (B2C)
Consumer to Consumer (C2C)
Commercial
Personal
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 10.1 Billion |
Revenue Forecast in 2030 |
USD 18.69 Billion |
Growth Rate |
CAGR of 9.2% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Billion (USD) |
Growth Factors |
|
Companies Profiled |
15 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
Amazon.com, Inc.
Walmart Inc.
eBay Inc.
Alibaba Group Holding Limited
Rakuten Group, Inc.
Sea Limited
MercadoLibre, Inc.
JD.com, Inc.
Etsy, Inc.
Allegro.eu
Kogan.com
SEEK
Carsales
REA Group Ltd.
Airtasker Ltd.