Market Size of Japan ICT Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.25 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Japan ICT Market Analysis
The Japanese ICT market is anticipated to record a CAGR of 11.25% over the forecast period. The growing emphasis on digital technology, AI, robotics, cyber security, and healthcare IT is driving the growth of the market.
- Information and communications technology (ICT) is the fusion of computer, communications, and regulatory policies for information access, transmission, processing, and storage.
- In Japan, the increasing adoption of IoT-based devices across diverse industries, including consumer electronics, military, agriculture, and construction, is primarily driving the growth of the ICT market in Japan.
- Japan is home to significant ICT organizations, including Sony, Panasonic, Fujitsu, NEC, and Toshiba, which is further playing a major role in the expansion of Japan as a major hub for ICT. Additionally, the rising government expenditures on maintaining the high-end and advanced infrastructures, along with the proper development of numerous modernization and enhancement projects in the country, are also propelling market's growth.
- The rapid growth of the E-Japan strategy that emphasizes the development of local e-governance projects, including participation of citizens, self-evaluation, and feedback for online government services, is promoting the growth of the Japanese ICT market in the future.
- However, the digitalization of data and increasing use of high-speed internet have led to crimes, including illegally gaining access to systems to steal money, intellectual property, or private information or to disrupt systems that control critical infrastructure.
- The COVID-19 pandemic had a tremendous impact on the Japanese technology and telecommunications sector. The pandemic has accelerated the digitalization of several sectors and services, including healthcare, education, online payments, product and service delivery online, and work from home. The telecommunications industry was strengthened by the substantial demand for mobile and residential broadband connections.
