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Japan Smart City Market 2022-2027 Analysis Challenges, and Future Growth | Telefonica SA, NTT Docomo Inc., CISCO Systems Inc.,

Astute Analytica released a new research report on the global Japan Smart City Market. The global market study looks into a variety of subjects, such as opportunities, market size, development, innovation, sales, and the overall growth of top players Chunghwa Telecom Company Ltd., Telefonica SA, NTT Docomo Inc., CISCO Systems Inc.,

The Japan smart city Market held a market value of USD 44,851.2 Million in 2021 and is forecasted to reach USD 93,718.9 Million by the year 2027. The market is anticipated to witness a growth rate of 13.1% over the projected period.

The study incorporates both qualitative and quantitative data and draws on both primary and secondary statistical sources. Significant companies, important market categories, and a range of products are included in the global market report. In addition, the report covers the measurement years and the study points.

Request To Download Sample of This Strategic Report: – https://www.astuteanalytica.com/request-sample/japan-smart-cities-market

Growth Influencers:

Rising requirement of public safety and communication infrastructure

Public safety is a current challenge for different cities around the globe. However, the population in urban areas is growing; smart cities are leveraging novel digital technologies for monitoring and optimising energy and water consumption for creating effective transportation infrastructures, enhancing citizen access to services, and delivering city-wide connectivity required by citizens as well as businesses. 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. 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. Therefore, rising requirement of public safety and communication infrastructure are anticipated to boost the market growth.

Need of faster communication technology

Faster communication technology, such as the 5G technology is anticipated to enable a new type of communication network to interconnect everything. This is estimated to impact economies and societies for providing the necessary communication infrastructure required by various smart city applications. Moreover, a smart city application which can be completed using 5G technologies is the intelligent transporting system (ITS). 5G technology has laid a base for building productive industry, smart technology, and innovative ways of communicating. In addition, 5G poses as a communication network for supporting the IoT infrastructure required by various smart city vertical industries. Hence, various applications of 5G technology for enabling many smart city developments are likely to fuel the market growth.

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