Japan smart city market held a market value of USD 40,866.6 million in 2021 and is expected to reach USD 93,718.9 million by 2030. The market is expected to witness a growth rate of 13.1% over the projected period . Smart cities use information and communication technologies to improve operational efficiency, share information with the public, and provide better quality of government service and citizen welfare.
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The market is primarily driven by the growing need for communication and public safety infrastructure. Also, increase in government initiatives and PPP models for smart cities is expected to contribute to the growth of the market. Additionally, the need for faster communication technology and the increasing adoption of robotics in public services are also factors leading to a positive influence in the market. However, IoT-related privacy and security issues are expected to restrain the market growth.
Growing need for public safety and communications infrastructure
Public safety is a current challenge for different cities around the world. However, the population in urban areas is increasing; Smart cities leverage new digital technologies to monitor and optimize energy and water consumption to create efficient transport infrastructure, improve citizen access to services and provide connectivity at scale of the city required by citizens as well as businesses.
For example, in July 2021, Mishima City signed an agreement with Oracle Japan for various smart city initiatives. These initiatives are expected to benefit local businesses and citizens by solving various key social issues using digital technology. Japan has seen a need for further reforms to address many regional issues and a need to enhance the appeal to potential immigrants and tourists. To address this issue, the country launched the Mishima Smart City Promotion Council in 2020 to promote the use of data held by private organizations and local government. Hence, the growing need for public safety and communication infrastructure is expected to drive the growth of the market.
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Need for faster communication technology
Faster communication technology, such as 5G technology, should enable a new type of communication network to interconnect everything. It is estimated that this will impact economies and societies to provide the necessary communication infrastructure required by various smart city applications.
On the other hand, a smart city application that can be complemented by 5G technologies is the Intelligent Transportation System (ITS). 5G technology has laid the foundation for a productive industry, smart technology and innovative means of communication. Furthermore, 5G stands as a communication network to support the IoT infrastructure required by various smart city vertical industries. Hence, various applications of 5G technology to enable numerous smart city developments are likely to fuel the growth of the market.
Presentation of the segments:
The Japanese smart city market is segmented into components, applications, and city topography.
Communication infrastructure (telecommunications network)
o Intelligent robots
o Cloud platform (IoT)
o Data management and analysis
o Remote monitoring
o System integration and deployment
o Support and maintenance
o Managed Services
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The communication infrastructure (telecommunications network) segment accounted for the largest market share of over 30% due to various technological advancements in the industry. The market size of the hardware segment is expected to exceed the market size of the communication infrastructure (telecommunications network) by 2022 owing to the growing demand for connected hardware devices. Furthermore, the software segment is estimated to witness the fastest growth rate of around 14.2% during the forecast period owing to the rising focus of market players in the segment.
Administration (intelligent governance)
houses and life
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The utility (utility) segment accounted for the largest market share of more than 12.5% due to the growing number of government initiatives. Many government institutes prioritize the safety of citizens, which leads to the growth of the market. The Government (Smart Governance) segment is expected to grow at the fastest CAGR of approximately 15.5%, as it enables government organizations to improve accountability, transparency, collaboration, security, and citizen engagement , which positively influences the growth of the market. The water segment is estimated to reach a market size of approximately USD 2,431 million by 2027.
By topography of the city,
The developed economies segment held the largest market share owing to favorable government initiatives in these economies. These include Tokyo, Yokohama, Kyoto, Osaka, Kobe, and Sapporo, among others. Within the emerging economies segment, the new cities segment is expected to experience a CAGR of 14.4%. Emerging economies include Chiba, Fukuoka, Chofu, and Tsukuba, among others.
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The major players operating in the Japanese smart city market are Thales Group, Nokia Corporation, Qualcomm Technologies Inc., Huawei Technologies Co Ltd, Reliance Jio Infocomm Ltd, Chunghwa Telecom Company Ltd., Telefonica SA, NTT Docomo Inc., CISCO Systems Inc. ., Verizon Communications Inc., AT&T Inc., GE Company, Telstra Corp Ltd., Orange SA, Vodafone Group Plc, Deutschse Telecom and other major players.
The combined market share of the five main players is close to around 35%. These key players are involved in new product launches, collaborations, and mergers and acquisitions to strengthen their presence in the market. For example, in January 2021, Orange Bank acquired Anytime, a neobank that focuses on small businesses, professionals and associations.
The Japan Smart City Market report provides information about the pointers below:
Market penetration: Provides comprehensive market insights offered by major players
Market development: The report offers detailed information on lucrative emerging markets and analyzes penetration in mature segments of the markets.
Market Diversification: Provides detailed information on untapped geographies, recent developments and investments
Assessment of the competitive landscape: Mergers and acquisitions, certifications, product launches in the Japanese smart city market have been provided in this research report. In addition, the report also emphasizes on the SWOT analysis of key players.
Product development and innovation: The report provides intelligent insights into future technologies, R&D activities and breakthrough product developments
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The Japan smart cities market report answers questions such as:
What is the market size and forecast of the smart cities market in Japan?
What are the inhibiting factors and impact of COVID-19 on the Japan smart city market during the assessment period?
What are the products/segments/applications/areas to invest in during the assessment period in Japan smart city market?
What is the competitive strategic window for opportunities in the Japan Smart Cities Market?
What are the technology trends and regulatory frameworks in the Japanese smart city market?
What is the market share of the major players in the smart city market in Japan?
What modes and strategic moves are considered favorable for entering the Japanese smart city market?
What are the main conclusions of the report?
This report provides comprehensive information about the factors that are expected to influence market growth and market share in the future.
The report presents the current market status and future prospects for various geographical regions.
This report provides qualitative and quantitative insights into the competitive landscape of the market.
Combined with Porter’s five forces analysis, it serves as a SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and growth opportunities.
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