The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: Thailand is forecast to move to a stronger economic trajectory over the medium term, while
political risks should also diminish. We expect this to result in faster IT spending growth from 2017 - and
we forecast the market will expand at a CAGR of 5.8% over 2016-2020. The outlook is particularly strong
for software and services, which will be the main growth engine for the market as a whole, but there are
mixed trends in the hardware segment. Rising incomes are positive, particularly after deferred spending in
recent years, but there is growing concern about the extent to which smartphones will cannibalise PC sales
(especially tablets) by becoming the sole computing device for Thai consumers.
Latest Updates & Industry Developments
? Computer Hardware Sales: THB88.8bn in 2016 to THB99.6bn in 2020, a compound annual growth
rate (CAGR) of 2.9%. Forecast downgraded in Q416 after the negative impact of smartphones on PC
sales, particularly tablets, in H116 exceeded our expectations.
? Software Sales: THB16.7bn in 2016 to THB22.7bn in 2020, a CAGR of 7.9%. Public and private sector
demand growth forecast as operations are modernised, while local industry development and low-cost
SaaS could result in wider adoption by SMEs.
? IT Services Sales: THB67.9bn in 2016 to THB94.7bn in 2020, a CAGR of 8.7%. Services forecast to
outperform based on the strength of demand for outsourcing and cloud computing services.