Development of the HRTech Market in Japan

The 4^th industrial revolution is going on and various X-Tech businesses using IoT (Internet of Things), bigdata analytics, AI (Artificial Intelligence), robot etc. are growing in the world. One of the growing X-Tech businesses is HRTech. HR stands for Human Resources and various HRTech businesses are being developed in various HR fields such as payroll, talent management, performance management, employee engagement, well-being etc. Keio Business School started HR Technology Consortium with various private companies in April 2015 and this became the starting point at which the HRTech market grew rapidly in Japan. The 1^st HR Technology Summit and the 1^st HR Technology Award Conference were held in October 2016 and Ministry of Economy, Trade and Industry employed HRTech as a tool to accelerate the policy of work style reform in February 2017. This industry-academia-government collaboration accelerated the growth of the HRTech market in Japan.

I. Introduction

The 4^th industrial revolution is going on and various X-Tech businesses are growing in the world. Table I shows examples of X-Tech. One of the growing X-Tech businesses in the world is HRTech. The HRTech market had been growing outside Japan until several years ago but it has been growing since several years ago in Japan, and researches by Keio Business School (KBS) became the starting point for the growth of the HRTech market in Japan. TABLE I. Examples of X-Tech

AccountTech	FashionTech	LivingTech	RetailTech
AdTech	FinTech	LogiTech	RoboTech
AgriTech	FoodTech	MarTech	SalesTech
AutoTech	GovTech	MedTech	SeniorTech
BabyTech	HealthTech	NeuroTech	SpaceTech
BeautyTech	HospitalTech	PeopleTech	SportTech
BrainTech	HRTech	PoliTech	TeachingTech
CivicTech	InfraTech	PowerTech	TextileTech
CosmeTech	InsureTech	PRTech	TravelTech
CreditTech	IPTech	RETech	VideoTech
EdTech	LearningTech	RegTech	WaterTech
EnergyTech	LegalTech