Thailand, a new and rising player in the cloud computing industry, will see more than 24,000 new jobs by 2024.
This is thanks to cloud-based software company, Salesforce, which was one of several tech firms that enjoyed tremendous success during the global COVID-19 pandemic.
A recent addition to the 2019 Salesforce Economic Impact White Paper projected US$1.6 billion in new business revenue by 2024.
With COVID-19 forcing businesses around the world to shift to cloud services and remote working, its predictions are coming true, as one of Salesforce’s ecosystems in Thailand is feeling the positive economic impacts.
“The Salesforce ecosystem is capable of generating business and job growth, even during a pandemic,” said Sujith Abraham, the SVP and General Manager for ASEAN at Salesforce.
Spending on public cloud softwares in Thailand is expected to increase from US$299 million in 2020 to US$579 million in 2024. Assuming that this trend continues, cloud services are predicted to grow faster than general information technology, with nearly 50% of global cloud software spending tied to digital transformation.
On top of the 24,260 new local jobs within the Salesforce and partner ecosystem, another 33,570 indirect jobs will be created through supply and distribution chains serving Salesforce customers. This number illustrates the impressive scale of a network effect by cloud computing firms in the country.
“Because we’re all working remotely, our solution,and our partner ecosystem, answers the need for digital transformation and is essential for our customers as they continue to deepen relationships, and ready for their place, in the post-pandemic economy,” added Mr. Abraham.
Building the workforce of the future in Thailand
To make sure that Thailand continues to be on track for exponential growth, Salesforce states that there is still a lot that local business could do. Alongside increased spending on cloud computing services, introducing new products and providing more pleasant customer experiences, are two main goals that should be worked on.
First, Thailand needs to nurture a workforce that is ready to support digital transformation efforts. The World Economic Forum predicts a significant shift, with no less than 54% of all employees requiring re-skilling or up-skilling to prevent talent shortages and mass unemployment. This is especially important now that the global pandemic has fast tracked digital transformations and caused countless retrenchments.
“The pandemic ensures cloud computing spend will increase in ASEAN and beyond. And, we know job growth in the region is dependent on a skilled workforce,” said William Sim, the VP of Salesforce’s Trailhead Academy for APAC.
Secondly, entrepreneurs and innovators in Thailand should identify the goldmine of opportunity for inventing revolutionary cloud-based applications, as forecasts show significant returns from investment in cloud computing by 2024. Yet, only 5% of the total IT spend in Thailand will be on public cloud computing, meaning there is a wealth of opportunities for almost ‘unlimited cloud computing growth’.
If all is achieved, Thailand’s cloud computing market could propel the country into becoming a key provider of tech services in Southeast Asia.
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