Japan Smart City Market Size, Share, and COVID-19 Impact Analysis, By Governance (City Surveillance, C.S., E-governance, Smart Lighting, and Smart Infrastructure), and By Application (Smart Governance, Smart Building, Environmental Solutions, Smart Utilities, Smart Transportation, and Smart Healthcare), and Japan Smart city Market Insights, Industry Trend, Forecasts to 2033.

Japan Smart City Market Insights Forecasts to 2033

• The Japan Smart City Market Size was valued at USD 61.02 Million in 2023
• The Market Size is Growing at a CAGR of 14.00% from 2023 to 2033
• The Japan Smart City Market Size is Expected to Reach USD 226.19 Million by 2033

The Japan Smart City Market Size is Anticipated to Reach USD 226.19 Million by 2033, growing at a CAGR of 14.00% from 2023 to 2033.

Market Overview

The term "Japan smart cities market" describes the area of urban development in Japan that incorporates cutting-edge technologies, like artificial intelligence (AI) and the Internet of Things (IoT), to improve sustainability, optimize resource management, and improve quality of life. Additionally, Government assistance in the form of funds and regulations is essential. To raise living conditions, upgrade infrastructure, and solve urban problems, the Japanese government is making significant investments in smart city projects. New technologies in this field are also being developed in Japan through public-private collaborations. Additionally, the substantial government-backed financial support for infrastructure and urban development projects in Japan is demonstrated by the ¥50 billion ($483.5 million) allotted by the Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and ¥200 billion ($1.9 billion) from the Japan Bank for International Cooperation (JBIC). The market for smart cities is driven by this significant funding, which makes it possible to incorporate cutting-edge technology like AI and IoT into urban planning.

Report Coverage

This research report categorizes the market for the Japan smart city market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan smart city market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan smart city market.

Driving Factors

The market for smart cities is expanding due in part to the increasing investment in smart city designs. Since everything would be integrated into these smart cities and some Japanese regions would benefit from implementing smart city garbage collection, some proposals are leading the way in Japan, where the government is spending billions of dollars on smart city designs. The market for smart cities in Japan is expanding steadily due to a number of important considerations. Only five of the more than fifty smart city initiatives that local governments started in 2020 were approved by the end of the year, demonstrating the stringent evaluation procedures in place. In spite of this, the market is still expected to develop at a 13.1% compound annual growth rate (CAGR) by 2027. Japan's dedication to environmental sustainability, which promotes the use of green technologies to lower energy consumption and carbon emissions, is what is driving this increase. Furthermore, effective management of resources, such as public services, utilities, and transportation, is required due to the fast urbanization of metropolitan areas.

Restraining Factors

One of the biggest obstacles facing the smart city sector is privacy and data security concerns. Ensuring data security and privacy is crucial since smart city efforts mainly rely on the gathering and analysis of massive amounts of data from many sources, such as IoT devices, sensors, and citizen interactions. This might have played a part in the rise in cyberattacks. Public adoption and investment have been hindered by well-publicized data breaches. 

Market Segmentation

The Japan smart city market share is classified into governance and application.

• The smart infrastructure segment is expected to hold a significant market share through the forecast period.

The Japan smart city market is segmented by governance into city surveillance, c.s., e-governance, smart lighting, and smart infrastructure. Among these, the smart infrastructure segment is expected to hold a significant market share through the forecast period. Smart infrastructure is a broad category of solutions that improve the essential elements of the urban environment, including energy, communication, and transportation systems.

• The smart utilities segment is expected to hold a significant market share through the forecast period.

The Japan smart city market is segmented by application into smart governance, smart building, environmental solutions, smart utilities, smart transportation, and smart healthcare. Among these, the smart utilities segment is expected to hold a significant market share through the forecast period. The smart utility segment, which covers a range of areas like distribution of energy, water treatment, integrated information management, and civil distribution infrastructure administration, is a crucial component of municipal infrastructure.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan smart city market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Chiyoda Technol Corporation
• Fuji Electric Co., Ltd.
• Hitachi High-Tech Corporation
• Mirion Technologies
• Thermo Fisher Scientific
• Landauer, Inc.
• ALOKA Co., Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In December 2021, NTT Communications Corporation (Japan) and Dassault Systèmes SE (France) inked a Memorandum of Understanding (MoU) to promote the creation and administration of sustainable smart cities in Japan.

Market Segment

• This study forecasts revenue at Japan, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Japan Smart City Market based on the below-mentioned segments

Japan Smart City Market, By Governance

• City Surveillance
• C.S.
• E-governance
• Smart Lighting
• Smart Infrastructure

Japan Smart City Market, By Application

• Smart Governance
• Smart Building
• Environmental Solutions
• Smart Utilities
• Smart Transportation
• Smart Healthcare