Japan, 3rd largest global economy, is known as one of the pioneers in the development of technology and IT industry and is still a crucible or the AI, modernization and energy-saving trends worldwide. As one of the largest IT markets in the world and home to the biggest tech companies, Japan is standing in the forefront of the changes – its ICT market, worth more than 200 billion euro, is the 3rd largest I the world, after the US and China.
Although the main players in the market compromise of large corporations, 99.5% of all enterprises in Japan are small and medium-sized. Focus on internal consumption leads to the lower international trade-to-GDP ratio on a global scale – around 32%.
Those are not the only factors that influence changes in the Smart Mobility market in Japan. The country faces several structural and social challenges that come from the aging society. Shrinking workforce, rising concerns about the challenges connected to the welfare and healthcare of the citizens as well as the highest life expectancy (84 years) in the world are fueling the innovations.
To address those structural and organizational issues, Japanese government came up with the ambitious concept of the “Society 5.0” that will allow humans to reach a higher level of development. Humans still evolve, just like they evolved past the hunter-gatherer stage of the societal growth. Japan sees the future in the AI, high technologies, Smart Factories, Smart Cities and in the Future Transportation solutions.
The full report as well as the recording of the webinar can be found on the EU Business in Japan’s website concerning the Webinar 171: Smart Mobility Market in Japan and Opportunities for EU SMEs.