The proportion of marketing budgets spent on martech in Thailand is set to rise, according to Thailand's Martech Report 2024, a joint annual study by Content Shifu and Hummingbirds Consulting.
The study, based on an online survey of 400 industry participants along with 11 qualitative interviews, has yielded the following highlights:
The proportion of martech budgets in Thailand to overall corporate marketing budgets is set to be 46% on average in 2024, compared to 10-30% in 2023.
The budget allocation for martech tools specifically have also changed. Fewer players (35%) are spending between 11-50% in 2024 versus 63% last year. But more (17%) are also allotting a majority >50% of their budgets for tools than last year (9%).
Advertising and promotion remain the most popular martech categories followed by data, then social and CRM.
Most martech users in Thailand do so in order to boost sales, followed by improving their organisational performance.
According to the report, Google and Line are the biggest providers of martech tools to the Thai industry
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