The Japan smart parking market is expected to witness considerable growth due to rise in implementation of smart parking solutions from manual approaches for controlling parking by innovative technical solutions. This market is gaining traction due to increase in demand for convenient and safe parking solutions among customers. The growth of the market is driven by increase in urbanization, rapid growth of the automobile sector, and rise in government initiatives for smart cities and smart parking options.
The market is segmented into type, technology, application, and end user. By type, the market is bifurcated into off-street and on-street. On the basis of technology, the market is segmented into internet of things (IoT), ultrasonic, and RFID. By application, the market is segregated into security & surveillance, smart payment systems, e-parking, and license plate recognition. Depending on end user, the market is divided into commercial and government.
Increase in need for comfortable and practical parking solutions is a significant factor driving the growth of this market. Furthermore, surge in urbanization, rise in disposable income, and increase in center class has increase the demand for smart parking solutions that enable drivers to locate available parking slots and make payment for vehicle parking spots with minimal effort. In addition, increase in demand for smart cities in Japan is anticipated to provide several opportunities for this market in the upcoming years. Moreover, the federal government stringent regulations pertaining to the application of smart parking systems and innovations is expected to drive the growth of the Japan smart parking market.
On the contrary, high installation and maintenance costs of smart parking services is restraining the growth of the market. Moreover, lack of awareness among customers about the benefits of these advanced systems restrain the market growth. Furthermore, surge in 5G modern technology is expected to provide new opportunities for the Japan smart parking market. In addition. the 5G innovation can give high-speed data transfer and improved action times, with minimum latency. This will open up new opportunities for smart parking technologies such as vehicle-to-vehicle (V2V) interaction, which can make it possible for better administration and optimization of auto parking sources.
The smart parking market in Japan is anticipated to benefit from the growth of server-side computing. Server-side computing services enable the efficient handling of huge amount of data and minimize latency times. This enhances the total performance of smart parking solutions. Furthermore, increase in demand of AI and ML options in this market further develops opportunities for the growth. The Japan smart parking market for smart parking solutions can be evaluated using the Porter's five forces model. The model analysis the pressures of buyers, suppliers, substitutes, new entrants, and competitive rivalry. The bargaining power of buyers is high due to the existence of several suppliers offering similar products. The bargaining power of supplier is low due to the need to continuously improve their products to remain affordable. The threat of substitutes is low as there are no strong alternatives to smart parking solutions. The threat of new entrants is modest due to high levels of investment required for research & development of new modern technologies. The competitive rivalry in the industry is high, due to the visibility of several players in the market.
The Japan smart parking market players are expected to take on new product advancement techniques to stand out in the competitive market. They are partnering with suppliers to develop solutions that are secure and are very easy to use. In addition, the growth of smart applications such as certificate plate acknowledgment systems generate opportunities for the growth of this market. To acquire an affordable advantage, players should perform research & development activities to establish options that are customized to the demands of the Japan market. Moreover, consumer understandings and pricing techniques play a crucial function in the success of the Japan smart parking market. Players need to use efficient marketing techniques to create awareness about their services and products. In addition, they must provide affordable pricing approaches to draw in consumers. By successfully implementing these strategies, the market players can acquire a one-upmanship in the Japan smart parking market.
It analyzes the key strategies adopted by major market players in Japan smart parking market.
The study assesses and ranks the top factors that are expected to impact the growth of Japan smart parking market.
It identifies the top investment pockets in the market.
The market is segmented into type, technology, application, and end user. By type, the market is bifurcated into off-street and on-street. On the basis of technology, the market is segmented into internet of things (IoT), ultrasonic, and RFID. By application, the market is segregated into security & surveillance, smart payment systems, e-parking, and license plate recognition. Depending on end user, the market is divided into commercial and government.
Increase in need for comfortable and practical parking solutions is a significant factor driving the growth of this market. Furthermore, surge in urbanization, rise in disposable income, and increase in center class has increase the demand for smart parking solutions that enable drivers to locate available parking slots and make payment for vehicle parking spots with minimal effort. In addition, increase in demand for smart cities in Japan is anticipated to provide several opportunities for this market in the upcoming years. Moreover, the federal government stringent regulations pertaining to the application of smart parking systems and innovations is expected to drive the growth of the Japan smart parking market.
On the contrary, high installation and maintenance costs of smart parking services is restraining the growth of the market. Moreover, lack of awareness among customers about the benefits of these advanced systems restrain the market growth. Furthermore, surge in 5G modern technology is expected to provide new opportunities for the Japan smart parking market. In addition. the 5G innovation can give high-speed data transfer and improved action times, with minimum latency. This will open up new opportunities for smart parking technologies such as vehicle-to-vehicle (V2V) interaction, which can make it possible for better administration and optimization of auto parking sources.
The smart parking market in Japan is anticipated to benefit from the growth of server-side computing. Server-side computing services enable the efficient handling of huge amount of data and minimize latency times. This enhances the total performance of smart parking solutions. Furthermore, increase in demand of AI and ML options in this market further develops opportunities for the growth. The Japan smart parking market for smart parking solutions can be evaluated using the Porter's five forces model. The model analysis the pressures of buyers, suppliers, substitutes, new entrants, and competitive rivalry. The bargaining power of buyers is high due to the existence of several suppliers offering similar products. The bargaining power of supplier is low due to the need to continuously improve their products to remain affordable. The threat of substitutes is low as there are no strong alternatives to smart parking solutions. The threat of new entrants is modest due to high levels of investment required for research & development of new modern technologies. The competitive rivalry in the industry is high, due to the visibility of several players in the market.
The Japan smart parking market players are expected to take on new product advancement techniques to stand out in the competitive market. They are partnering with suppliers to develop solutions that are secure and are very easy to use. In addition, the growth of smart applications such as certificate plate acknowledgment systems generate opportunities for the growth of this market. To acquire an affordable advantage, players should perform research & development activities to establish options that are customized to the demands of the Japan market. Moreover, consumer understandings and pricing techniques play a crucial function in the success of the Japan smart parking market. Players need to use efficient marketing techniques to create awareness about their services and products. In addition, they must provide affordable pricing approaches to draw in consumers. By successfully implementing these strategies, the market players can acquire a one-upmanship in the Japan smart parking market.
Key Benefits For Stakeholders
The report highlights the market analysis based on current trends and future estimations.It analyzes the key strategies adopted by major market players in Japan smart parking market.
The study assesses and ranks the top factors that are expected to impact the growth of Japan smart parking market.
- Top Player positioning provides a clear understanding of the present position of market players.
It identifies the top investment pockets in the market.
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Key Market Segments
By Type
- Off-street
- On-street
By Technology
- Internet of Things (IoT)
- Ultrasonic
- RFID
By Application
- Security and surveillance
- Smart payment systems
- E-parking
- License plate recognition
By End User
- Commercial
- Government
- Key Market Players
- Electronics Togo Co. Ltd
- Pan Pacific Solutions
- Japan Parking Network Inc.
- Hitachi
- Tominaga System Solutions
- Total Parking Solutions
- Tokyo Smart Parking
- Secure-Park Systems
- FineTronics Inc.
- NTT Data Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: JAPAN SMART PARKING MARKET, BY TYPE
CHAPTER 5: JAPAN SMART PARKING MARKET, BY TECHNOLOGY
CHAPTER 6: JAPAN SMART PARKING MARKET, BY APPLICATION
CHAPTER 7: JAPAN SMART PARKING MARKET, BY END USER
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Electronics Togo Co. Ltd
- Pan Pacific Solutions
- Japan Parking Network Inc.
- Hitachi
- Tominaga System Solutions
- Total Parking Solutions
- Tokyo Smart Parking
- Secure-Park Systems
- FineTronics Inc.
- NTT Data Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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