Synnex targets booming cloud market for growth

SET-listed IT product distributor Synnex (Thailand) is investing 100 million baht this year in its business development, in a bid to become a total business solution provider by 2027.

- SUCHIT LEESA-NGUANSUK

The move also aims to capitalise on Thailand’s cloud market, which is projected to be worth 160 billion baht by 2029.

The investment is to support Amazon Web Services (AWS) Thailand’s cloud business, its own technology solution showcase, and the establishment of a warehouse.

Thailand’s cloud market is just beginning. The company sees the cloud computing market as an opportunity because cloud spending in Thailand accounts for only 12% of total IT spending versus 34% globally, said Sutida Mongkolsuthree, chief executive of Synnex (Thailand).

Thailand's cloud market is expected to be worth US$4.6 billion, or around 160 billion baht, by 2029 from an estimated $2.1 billion (70 billion baht) in 2025, representing a compound annual growth rate (CAGR) of 20%.

This growth of the local cloud business is higher than the estimated 18% CAGR of the global market.

Cloud market growth has been driven by the expansion of data infrastructure, artificial intelligence (AI) computing power, cloud native applications, security governance and collaborating platforms.