Japan is a large, mature market for consumer electronics. By 2020, forecasts estimate computer hardware sales of US$43 billion, AV and gaming sales of $11.7 billion, and mobile handset sales of $19.5 billion. By 2025, Japan will be the third largest market for Internet of Things (IoT) devices and connections behind the United States and China. Japan will account for 7% of all IoT connections, 7% of cellular, and 6% of global revenue. Japan’s 2016 IoT revenue is estimated at US$116.12 billion and is expected to reach US$175.92 billion by 2020.
SoftBank made waves in 2016 with the acquisition of the UK-based chip designer and microprocessor technology company ARM Holdings for $31.4 billion as a means to solidify its position in the Internet of Things as billions of devices are brought online. In addition, SoftBank launched its +Style platform, in 2016, that connects IoT hardware device makers with Japanese consumers who are keen on adopting the hot, new technology into their lifestyle.
And so, with the beginning of 2017, SoftBank has introduced the +Style as a program on HWTrek to attract the developers of cool IoT devices to the Japanese market.
“We expect more IoT innovator projects—with excellent ideas—through the HWTrek ecosystem,” said Jack Akita, responsible for the +Style Partner Alliance at SoftBank. “Softbank is helping IoT startups to enter the Japanese market. Our goal is distributing their products to big scale businesses through the SoftBank group. We are helping their distribution and marketing in the Japanese market through our +Style platform.”
Jack Akita interviewed by HWTrek
The SoftBank +Style program provides opportunities for global hardware companies — from startups to SMBs — seeking to enter Japan’s market for smart, connected devices. The program enables these companies to leverage SoftBank’s +Style PR resources to promote their products in Japan’s market, the e-commerce platform to sell and manage customer orders, and their payment system to process order payments, according to Akita.
The +Style platform consists of three components: Planning, Crowdfunding, and Shopping.
Planning: Participatory product planning
The Planning component of the +Style platform provides an opportunity for hardware companies to connect with potential consumers of their products during the planning and prototyping stages of their product development. The companies can post their IoT concepts and devices — in the form of sketches and videos in additional to explanations of the concept or product showcasing its features and benefits — the platform where the audience is invited to share opinions and experiences. Encouraging interaction between consumers and device makers ensures that the companies are in touch with the desires and needs of their potential customer base. Perhaps you can think of this as crowd-product planning.
Crowdfunding: Raising money for product production
IoT hardware developers can leverage crowdfunding on SoftBank’s +Style platform to raise funds for their IoT project or product to support the mass manufacturing of the device. This is especially helpful for overseas companies who are releasing a product in the Japanese market for the first time. Combined with the Planning and Shopping components of the platform, this can help ease market entry and help to speed go-to-market strategies.
Shopping: Purchasing products unavailable in Japan
The shopping or e-commerce component of the +Style platform gives consumers the chance to purchase the latest in innovative IoT products that are not yet available in the Japanese market. The e-commerce component offers sales flexibility including advance sales, built-to-order sales, and limited-quantity sales. Hardware companies can showcase their IoT device with a detailed product description and videos highlighting features and benefits to consumers on the sales screen. The companies can also conduct test marketing via the sales screen before releasing the product in brick-and-mortar retail outlets.
SoftBank Group Corp. Chairman & CEO, Masayoshi Son, expressed high hopes in promoting the Internet of Things movement and has determined to expand the business of IoT. “Each individual, on average, will have more than 1,000 devices that are connected to the internet by 2040,” he told the audience at SoftBank World 2016. “There will be no devices that aren’t connected.”
Together with SoftBank’s +Style program, HWTrek provides a complete end-to-end hardware development ecosystem—a one-stop shop—for IoT hardware innovators collaboratively working to manage their product development, connect with manufacturing and supply chain industry experts, and bring their connected device projects to market in Japan.
Check out the +Style program page on the HWTrek platform to learn more about +Style and connect with SoftBank +Style representatives Jack Akita and Masato Furuno.
