With 60,000 mobile developers, Thailand’s mobile app market is ranked third in Southeast Asia, only behind Indonesia and Vietnam. Applift, a mobile app marketing platform, forecasts that Thailand’s mobile games market will reach US$211 million this year and increase to $300 million in 2017, up from $93.5 million in 2014. About 60% of revenue will come from mobile phones by 2017, up from 40% now.
The faster speeds of wireless internet connectivity will lead to opportunities for a range of mobile apps offering interactive games, video conferencing and streaming, location-based services, transport and banking. As of March 2015, Thailand’s mobile penetration rate stood at 180%. About 75% of mobile internet users were aged under 35 and using apps for gaming, videos, music and e-commerce.
Mr Venkatesh suggested Thai mobile app developers focus on monetisation, noting localisation is a key success factor for developers. Developers should also offer customers local payment methods on mobile devices, he added. At least 60% of apps’ revenue comes from advertising.
Mr Nuttaputch said marketing strategy would be a crucial factor for developers to reach target audiences, as there are up to 1.5 million apps in Apple’s App Store and 1.6 million in Google Play.
Global IT research firm IDC said Indonesia, Malaysia, the Philippines, Thailand and Vietnam were the five fastest-growing markets in Southeast Asia in terms of both app downloads and revenue in 2014. Thailand is the second-largest smartphone market in the Asean region, while it is also among the top 20 in app revenue in the world. In Thailand, revenue generation through mobile content and apps reached $600 million in 2014.
Source: Bangkok Post