Factory digitalization market size Japan FY 2020-2027
The value of the factory digitalization market in Japan amounted to 1.7 trillion Japanese yen in fiscal year 2022. The market was expected to grow further in the coming years and to reach a value of more than 1.8 trillion yen by fiscal year 2027. The source pointed out that cyber-physical systems (CPS) and digital twins are increasingly attracting attention due to the availability of data accumulated via the Internet of Things (IoT) and cloud services, which made it likely that an increasing number of manufacturing companies would shift their business models from product sales to providing services via CPS and digital twins.
