Travel - Thailand

Thailand

The projected total revenue in the Travel market of Thailand is expected to reach €2.26m in 2022.
This represents a significant figure in the country's tourism industry.
Furthermore, it is anticipated that the total revenue will exhibit an annual growth rate (CAGR 2022-2027) of 10.54%, resulting in a projected market volume of €3.85m by 2027.
This growth indicates a positive trajectory for the Travel market in Thailand over the next few years.
In-app purchase (IAP) revenue in the Travel market of Thailand is projected to reach €0.32m in 2022.
This revenue stream is driven by the increasing popularity of mobile applications within the travel sector.
Additionally, paid app revenue is expected to contribute significantly, reaching €0.66m in 2022.
These figures highlight the potential for monetization within the Travel market of Thailand through app-based services.
Advertising revenue also plays a crucial role in the Travel market of Thailand.
It is projected to reach €1.27m in 2022.
This indicates a substantial investment in advertising campaigns within the industry.
Such investments are often made to attract tourists and promote various travel destinations and services in Thailand.
In terms of market reach, the number of downloads in the Travel market of Thailand is projected to reach 7.04m downloads in 2022.
This reflects the high demand for travel-related applications and digital services among users.
Additionally, the average revenue per download is expected to amount to €0.32, indicating the potential profitability of each individual download.
When compared globally, it is noteworthy that in the United States generates the highest revenue in the Travel market.
In 2022, in the United States is projected to reach a revenue of €422.20m.
This demonstrates the dominance of the United States in the global travel industry and highlights the potential for growth and development in Thailand's Travel market.
Overall, the projected revenue figures in the Travel market of Thailand indicate a positive outlook for the industry.
With significant growth expected in various revenue streams and a strong market presence, in Thailand is poised to continue attracting travelers and generating substantial revenue within the Travel market.

Key regions: Germany, South Korea, United States, Europe, Asia

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Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.