target audience: TECH SUPPLIER Publication date: Jun 2024 - Document type: Market Forecast - Doc Document number: # JPE50868524
Japan Internet of Things Forecast by Vertical Industry and Technology, 2024–2028
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Abstract
This IDC study provides a forecast of user spending and delves into market trends and prospects for the Japan IoT market by industry sector and by technology. Between 2024 and 2028, the domestic IoT market is expected to see an increased adoption of IoT in the logistics, construction, and medical fields because of the worsening labor shortage caused by a declining working population and stricter labor regulations. The main use cases in logistics, healthcare, and construction include smart warehouse management to improve logistics efficiency, construction asset management to improve the efficiency of construction work, and in-hospital clinical care in the healthcare field. On the other hand, in response to the rise in cybersecurity risks, the Ministry of Economy, Trade and Industry is taking the lead in establishing the " IoT Product Security Conformity Assessment Scheme," but this could temporarily hinder the growth of the IoT market as vendors will need time to respond.
Yoriyuki Yamashita, research manager of Infrastructure and Devices at IDC Japan, says, " The growth of the domestic IoT market is influenced by several factors. These include significant labor shortages in industries such as logistics, construction, and healthcare, the spread of new technologies and solutions such as smart maintenance and connected cars, and a certification system that will be established by government to address cybersecurity risks. IT suppliers should be quick to seize the market opportunities brought about by these technological and institutional changes."
This is the English translation of the Japanese document IDC #JPJ50701224.