target audience: TECH SUPPLIER Publication date: Jul 2024 - Document type: Market Forecast - Doc Document number: # JPE50869724
Japan IT Spending Forecast by Vertical Segment, Company Employee Size, and Company Revenue Forecast, 2024–2028
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Abstract
This research report provides actual IT spending (2022, 2023) and forecasts (2024–2028) in the Japan IT market by industry sector, employee size, and annual turnover. This research report analyzes 21 industry sectors, five employee size and product sectors each, and four annual turnover segments, and reports on IT spending trends observed in each industry sector.
Although the Japan economy is affected by the weak yen, rising raw material prices, and labor shortages, many companies are seeing a recovery in their performance because of the strong performance of both the Japan economy and the Europe and U.S. economies. Therefore, we expect the Japan IT market to maintain positive growth beyond 2024. Many companies, including small and medium-sized businesses (SMBs), have begun to promote digitalization and digital transformation (DX) with the aim of not only improving productivity but also expanding profits and developing new businesses. This trend is not affected by a slight slowdown in the economic environment and is expected to expand steadily in the future.
Therefore, in order for future IT suppliers to expand their business in the Japan IT market, they will need to focus on supporting the promotion of digitalization/DX. In particular, it has begun to be implemented in SMBs, which have been slow to adopt digitalization and DX initiatives until now, and we believe that this will become an area in which growth is expected in the future. In this context, Hitoshi Ichimura, senior research manager for Verticals and Cross Technologies, IDC Japan, says, "In order to smoothly support the digitalization and DX that will trigger growing needs among SMBs in the future, IT suppliers should not only use their own know-how but also work with partners and other companies to proactively propose and develop solutions."
This is the English translation of the IDC #JPJ50712324.