CHICAGO, UNITED STATES, Nov. 17, 2022 /EINPresswire.com/ — Japan’s emerging smart city technology market is expected to experience significant revenue growth to US$9,968.3 million in 2021 to 22,750 million US$ by 2027. The market registers a CAGR of 14.7% over the forecast period 2022-2027.
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In recent years, smart city technology has been widely adopted to improve public safety, which includes everything from monitoring high-crime areas to improving disaster preparedness using sensors and more. other stuff. A smart city also uses various electrical techniques, voice activation techniques, and sensors to collect particular data about residents, gadgets, structures, and assets. In addition, data is prepared for analysis and monitoring to manage waste, information systems, crime detection, utilities, power plants, water supply networks, libraries, schools, hospitals and other community services.
Factors influencing the market
Growing demand for government initiatives, public safety and communication infrastructure, and PPP models for smart cities are factors driving the growth of the market. Smart cities integrate AI and IoT-based technologies to maintain a healthier environment, improve public transportation, and increase safety. In May 2020, the Super City Law was passed in Japan. Regarding the digital transformation of cities, this new law aims to strengthen coordination between the public and commercial sectors. The use of AI and big data in healthcare, education, energy, crime prevention and transportation, including the creation and implementation of self-driving cars, will be implemented in cities designated as super cities. Furthermore, Society 5.0 is Japan’s national vision for a next-generation, data-driven, human-centered society that utilizes big data, AI, and IoT and will offer appropriate solutions using these technologies. Additionally, private companies in Japan are helping to expand the market. For example, Panasonic was among the first companies to build a smart city in Kanagawa Prefecture, Japan.
Additionally, there is a growing potential for market expansion due to growing environmental concerns and desire for green activities. For example, in October 2020, the Japanese government announced its intention to achieve net zero carbon emissions by 2050. In addition, it stepped up its efforts to achieve carbon neutrality in April 2021 by raising its previously established target of reduction in emissions by 2030 to an ambitious 46% from its 2013 levels. However, security and privacy concerns on the Internet of Things (IoT) may inherit industry expansion.
COVID-19 Impact Analysis
The COVID-19 pandemic has lowered the demand for smart city technology in Japan due to reduced government and private sector spending on smart city development. Additionally, the lockdown imposed by the Japanese government has affected supply chains, which further resulted in the shutdown of many manufacturing sectors. It has put pressure on the availability of various goods and services. However, as Japanese regulators are primarily concerned with ensuring that the health, safety and standard of living of their people are monitored, the adoption of emerging technologies is expected to propel the expansion of the market throughout the post-pandemic period.
In 2021, on the basis of technology, the Internet of Things (IoT) segment held the leading market share of 34% due to the many opportunities offered by IoT for smart cities to use data for reducing pollution, controlling traffic, making available the use of infrastructure and maintaining the safety of citizens. Additionally, in the IoT segment, the radio frequency identification segment will grow to a revenue of US$986.1 million by 2027.
In 2021, in terms of deployment, the cloud-based segment has gained a large market share of 66.6% owing to the simplified scalability and high speed provided by cloud-based systems owing to the fact that cloud-based deployment has increased data capacity and security. .
In 2021, based on applications, the smart citizen services segment dominated the market with a 21% share, as in Japan, citizen security is the government’s top priority.
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ABB Limited is a leading technology company driving social and industrial change for a more prosperous and sustainable future.
Alphabet Inc. provides information technology and services. This multinational professional services company excels in digital, cloud and security.
IBM Corporation is an American company specializing in information technology and services. The company provides cloud platforms and cognitive solutions.
Oracle Corporation is an American company specializing in information technology and services. The company’s cloud infrastructure provides superior performance, greater security and cost savings.
Cisco Systems is a company specializing in computer networks. This multinational professional services company excels in cloud computing, digital technologies and security.
Foxconn Technology Co.Ltd. is headquartered in Taiwan. Additionally, the form develops, produces and sells 3C goods (computers, consumer electronics and communications). The main markets where the company distributes its products are China, the United States and Japan.
Japan’s emerging technologies in smart city market segmentation focus on technology, deployment and application.
By technology segment
Internet of Things (IoT)
o Satellite network
o Cellular network
o Radio frequency identification
o Near field communication
Artificial Intelligence (AI)
Deep machine learning
o Artificial neural network
o Voice recognition
o Pattern recognition
o Natural language processing
o Context sensitive processing
o Other AI technologies
High performance computing
Big data analytics
By deployment segment
On the site
By application segment
o Parking management
o Ticketing and travel management
o Traffic management
o Passenger information management system
o Cargo Information System
o Other intelligent transport systems
o Energy management
o Advanced metering infrastructure
o Smart Grid
o Water management
o Distribution Management
o Other smart utilities
o Electronic governance solutions
o Smart public safety
o Law enforcement
o Urban planning
o Other governance services
Smart home and building
o Building automation system
o Energy management systems
o Parking management system
o Emergency management system
o Other smart building systems
Smart citizen service
o Smart education
o Smart healthcare
o Emergency response system
o CCTV system
o Assisted living solution
o Other citizen services
o Electric vehicle charging
o Tunnel management
o Toll management
o Other mobility solutions
Other applications (security and surveillance)
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