Growth of network connectivity across the region is driving the demand for the Japan digital marketplace market during the forecast period.

Japan Digital Marketplace Market size was valued at USD 19.57 billion in 2023, and is predicted to reach USD 48.31 billion by 2030, at a CAGR of 13.7% from 2024 to 2030, according to new research by Next Move Strategy Consulting.

The proliferation of 5G connectivity in Japan emerges as a significant catalyst for the expansion of the digital marketplaces market in the nation. For example, DOCOMO, a Japanese mobile phone operator, intends to invest upwards of USD 7 billion to extend its network to 97% of the populated areas of Japan by 2025. This endeavor entails the deployment of 8,001 base stations in the 3.7GHz and 4.5GHz spectrum bands, alongside 5,001 base stations in the 28GHz band. With the introduction of high-speed 5G networks, consumers enjoy swifter and more dependable internet connectivity, facilitating seamless browsing and transactions on digital marketplaces. This upgraded connectivity fosters immersive shopping experiences, thereby enhancing user engagement and satisfaction.

However, overcoming challenges related to cybersecurity threats and consumer trust is essential for driving market growth. Concerns about the vulnerability of online platforms to cyberattacks cause consumers to withhold personal information and hesitate to engage in transactions, fearing potential privacy breaches or financial harm. Consequently, this leads to reduced usage of digital marketplaces and reluctance to embrace online shopping, hindering market expansion. Furthermore, instances of data breaches or fraudulent activities tarnish the reputation of digital marketplaces, discouraging both consumers and businesses from active participation in the online marketplace environment.

On the other hand, integration of augmented reality (AR) and virtual reality (VR) technologies is a key driver of market expansion. By incorporating these technologies, online marketplaces offer immersive and interactive shopping experiences. AR and VR enable consumers to visualize products in real-world settings, virtually try them before making a purchase, and explore dynamic virtual environments. These enhanced experiences not only enhance customer engagement and foster brand loyalty but also drive sales.

Moreover, AR and VR empower businesses to effectively showcase products through detailed information and personalized recommendations, paving the way for innovative and compelling shopping experiences. Thus, the integration of AR and VR technologies holds promise for revolutionizing the future landscape of digital marketplaces.

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Several market players operating in the Japan digital marketplace industry include Amazon.com, Inc., Walmart Inc., eBay Inc., Alibaba Group Holding Limited, Rakuten Group, Inc., Sea Limited, MercadoLibre, Inc., JD.com, Inc., Etsy, Inc., Allegro.eu, Kogan.com, SEEK, Carsales, REA Group Ltd., Airtasker Ltd. and others.

Key Insights from the Japan Digital Marketplace Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the Japan digital marketplace market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of players in the Japan digital marketplace market is provided in the report along with their competitive analysis.