Japan's Promise of Tomorrow -Tech
Every industry worldwide is starting to use technology at an unparalleled scale and pace. Thanks to the ease of adoption of the latest technologies. As a result, new businesses are mushrooming across different marketplaces at a remarkable rate. We owe a lot to technologies becoming more plug & play, more driven by the cloud, and simpler to use. They make it easier to test ideas and move on faster if it fails.
It’s not a secret that the pandemic has been a tailwind to cloud adoption. In fact, many businesses were thrown into unprecedented predicaments and unexpectedly had an opportunity to reassess how they communicate within the organization and bank on their mission-critical technology applications. Most of them migrated to the cloud to ensure the delivery is resilient and consistent and the deliverables maintain high quality. According to marketsandmarkets.com, the global cloud computing market size is expected to grow from $445.3 billion in 2021 to $947.3 billion by 2026 at a Compound Annual Growth Rate (CAGR) of 16.3 percent during the forecast period.
Japan is an excellent example of this growth. Japan is a great example. The country’s revenue from the Public Cloud market is projected to reach $18.37 billion in 2023. The market’s largest segment is Software as a Service, with a projected market volume of $9.85 billion in 2023. According to Statista, the revenue from the SaaS segment in Asia is expected to show a CAGR of 14.48 percent, resulting in a market volume of $58.40 billion by 2027. Japan is gearing up to take on this opportunity. The timing couldn’t be better to come up with a Japan special issue.