The Japan emerging technologies in smart cities market held a market value of US$ 9,968.3 Million in 2021 and is forecasted to reach US$ 22,750.0 Million by the year 2027. The market is anticipated to grow at a CAGR of 14.7% during the projected period.
Emerging technologies are used for the development and building of smart cities. The market is majorly driven by the rising need for public safety communication infrastructure and increasing number of government initiatives PPP models for smart cities. However, privacy and security concerns over IoT are expected to negatively hamper market growth. Furthermore, huge initial investments are also anticipated to hamper market growth.
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Growth Influencers:
Incresing number of government initiatives and PPP models for smart cities
Various government initiatives along with public private partnerships are boosting the market growth. For instance, 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. For instance, Japan has been experiencing a need for new reforms for solving many regional issues and a need to boost the appeal to potential immigrants tourists. To address this issue, the country launched the Mishima Smart City Promotion Council in 2020 for promoting the use of data held by private organizations and local government.
Growing need for public safety and communication infrastructure
Successful launch of smart city projects is majorly dependent on telecommunication infrastructure and its use in public safety. All cities are required to ensure that communication platforms are established as well as accessible for realizing the concept of smart cities in a resource-efficient and open manner. The requirement of basic and modern infrastructure for data communication is required for a city to become smart. Therefore, growing need for public safety and communication infrastructure is estimated to boost the market growth.
Segments Overview:
The Japan emerging technologies in smart cities market is segmented into technology, deployment, and application.
By Technology
Internet of Things (IoT)
Satellite Network
Cellular Network
Radio Frequency Identification
Near Field Communication
Wi-Fi
Artificial Intelligence (AI)
Deep Machine Learning
Artificial Neural Network
Voice Recognition
Pattern Recognition
Natural Language Processing
Context Aware Processing
Other AI Technologies
Cloud Computing
High Performance Computing
Edge Computing
Big Data Analytics
Quantum Computing
Other Technologies
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The internet of things (IoT) is anticipated to hold the largest market share of around 34% owing to its growing adoption as it enables innovation by integrating the internet across various functions. Within this segment, the radio frequency identification segment is estimated to surpass a market size of about USD 986.1 million by 2027. The cloud computing segment is expected to witness the fastest growth rate of 15.8% owing to various technological advancements.
By Deployment
Cloud
On-Premises
The cloud segment held the largest market share owing to its cost effectiveness which has various applications in areas such as smart governance, smart utilities, smart transportation, and smart building.
By Application
Smart Transportation
Parking Management
Ticketing Travel Management
Traffic Management
Passenger Information Management System
Freight Information System
Other Smart Transportation Systems
Smart Utilities
Energy management
Advanced Metering Infrastructure
Smart Grid
Water Management
Distribution Management
Other Smart Utilities
Smart Governance
E-Governance Solutions
Smart Public Safety
Law Enforcement
City Planning
Other Governance Services
Smart Home Building
Building Automation System
Energy Management Systems
Parking Management System
Emergency Management System
Other Smart Building Systems
Smart Citizen Service
Smart Education
Smart Healthcare
Emergency Response System
Video Surveillance System
Assisted Living Solution
Other Citizen Services
Smart Mobility
Electric Vehicle Charging
Tunnel Management
Tolling Management
Other Mobility Solutions
Other Applications
The smart citizen service segment held the largest market share of about 21% owing to various technological advancements for ensuring the safety of citizens. Within the smart utilities segment, the advanced metering infrastructure is anticipated to witness a CAGR of 15.9%. Within the smart governance segment, the law enforcement segment is expected to surpass a market size of USD 1,263.6 million by 2027.
Competitive Landscape:
Key players operating in the Japan emerging technologies in smart cities market include ABB Ltd., Accenture Plc, Alphabet Inc., ATT, Cisco Systems Inc., Ericsson, Foxconn Electronics Inc., Fujitsu Ltd., Hitachi, General Electric Company, Honeywell, IBM Corporation, Huawei Technologies, INTEL Corporation, LG Electronics Inc., Microsoft Corp., Oracle Corp., Qualcomm Technologies Inc., Schneider Electric SE, Siemens AG, and Toshiba Corporation, among others.
The approximate market share of the five major players is near about 35%. These market players are involved in new product launches, partnerships, mergers acquisitions to strengthen their market presence. For instance, in May 2021, ABB Robotics advanced its construction industry automation by enabling sustainable and safer buildings.
The Japan emerging technologies in smart cities market report provides insights on the below pointers:
Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers acquisitions, certifications, product launches in the Japan emerging technologies in smart cities market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development Innovation: The report provides intelligent insights on future technologies, RD activities, and breakthrough product developments
The Japan emerging technologies in smart cities market report answers questions such as:
What is the market size and forecast of the Japan emerging technologies in smart cities Market?
What are the inhibiting factors and impact of COVID-19 on the Japan emerging technologies in smart cities Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the Japan emerging technologies in smart cities Market?
What is the competitive strategic window for opportunities in the Japan emerging technologies in smart cities Market?
What are the technology trends and regulatory frameworks in the Japan emerging technologies in smart cities Market?
What is the market share of the leading players in the Japan emerging technologies in smart cities Market?
What modes and strategic moves are considered favorable for entering the Japan emerging technologies in smart cities Market?
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