Thailand and Its Highly Successful App Development Industry
Thailand is a leading mobile app developer in Asia, seeing a continuing growth after creating more than 20,000 jobs for local developers in the content market. One of the most used local mobile app is the TrueMoney Wallet, which later came with a TrueMoney Wallet Foreigner version. As the country moved forward into the new normal phase during the COVID-19 outbreak, it became apparent that the adoption of digital payment technologies isn’t just for Thai locals.
The co-President of Ascend Money Company Limited, Mr. Tanyapong Thamavaranukupt, said they quickly realized that the foreigners who live and work in Thailand have great need of a convenient and secure wallet to use in sending money in their respective homeland. Adding the In-App Money Transfer feature to the TrueWallet app has made it easier for foreign workers to save both time and money when sending money to their family, as opposed to doing so by physical transfers.
According to the Ministry of Labour, there are currently about 2.7 million migrant workers in Thailand, and most of them come from neighbouring countries Lao, Vietnam, Cambodia and Myanmar.
Use of Digital Wallets in Thailand’s Covert Gambling Sector
Actually, the TrueMoney Wallet app is also popular in the country’s surreptitious online gambling sector. Although gambling is strictly prohibited in Thailand, more than half (57%) of Thailand’s adult population covertly engage in some form of gambling activity. As the turn of events has it, gambling in online casinos became even more popular during the mandatory quarantine period, being the safest and most lucrative way to pass the time.
Depositing and withdrawing money to use in gambling was not a problem, as many of the online casino sites use the TrueWallet digital app to process fund transfers. At PGGames 168, Thai gamblers don’t have to miss playing a real money (new pg) game app as the website accepts deposits and pays winnings by way of the TrueWallet mobile app.
More about Thailand’s App Development Industry
The 2022 Thailand App Market Statistics show that out of the 3,003,757 apps available on Google Play Store, 9,349 apps are from Thai publishers. Of those Thai developed apps, the ones with the most downloads are TrueMoney Wallet, 7-Eleven TH, เป๋าตัง – Paotang, TrueID, oneD, Krungthai NEXT, Lotus’s App, K PLUS and SCB EASY.
Thai mobile content developers are more focused on creating apps over creating games. Of the mobile content released by Thai publishers, 86% are apps while 14% are games. Thirty-four (34%) of the apps released by Thai publishers are available in both iTunes and Google Play stores
The above statistics were actually summed up based on address, which denotes that only publishers with valid Thai addresses were included in the estimation.