Future of Mexico—Global Hub for Innovation and Investment, Forecast to 2025

Future of Mexico—Global Hub for Innovation and Investment, Forecast to 2025

The Social, Technological, and Economic Factors Influencing a Culture of Innovation and Investment

RELEASE DATE
06-Nov-2019
REGION
North America
Research Code: K368-01-00-00-00
SKU: CI00655-NA-MT_23730

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Description

Mexico’s demographic favorability through the next decade, its focus on education to fully capitalize the growing working and escalating digital accessibility, and its growing start-up business support mechanisms advocates the expanding Mexico’s culture of innovation. Though Mexico spend less than 1% of GDP in research and development compared to other developed nations like US, Korea and Singapore but the nation has been rapidly rising in the Innovation index compared to other nations over the past few years because of steady reforms and dynamic policies. Doing so has resulted in increasing amounts of VC investment. Increases in technology investment by the Mexican government, coupled with pro-private investment schemes, will encourage multinationals to view Mexico as a viable locale for centers focused on emerging technologies, such as artificial intelligence (AI), the Internet of Things (IoT), and cybersecurity. Because of emerging technologies, traditional industries are reinventing themselves. Mexico has the opportunity to participate in these reinventions by investing in innovation that can be exported regionally and globally, generating value that will resonate through the coming decades. Mexico has the ability to be the innovation leader in Latin America for emerging industries, such as EV development; 4G/5G telecommunications rollout; and affordable, smart, and green housing; as well as in more established areas, including tourism and medical devices. The key to Mexico becoming the innovation gateway for Latin America is in nurturing R&D and startup ecosystems that build on the progress Mexico is already making. This study has identified social, technological and economic factors as key contributors to innovation and future investment in Mexico. Demographic factors , education developments, growth of the Mexican middle class, women contribution to the economy, entrepreneurial and start-up developments in Mexico are some of the social factors contributing to the growing innovation culture in Mexico. Mexico’s working age population is expected to peak at approximately 68% in 2033, surpassing the working age share of total population for all other LATAM countries. Mexico’s demographic shift is expected to increase the region’s economic prosperity, driving infrastructure development and advancing innovation and technological adoption. Digital indicators like future connectivity trends, government enablement of technology growth, growth in technology innovation areas are some of the technological factors leading to innovation growth in the region. With the largest fintech ecosystem in LATAM (Latin America), Mexico is capable of building multiple start-up hubs in cities such as Mexico City, Guadalajara, Monterrey, and Tijuana. Since 2010, Mexico’s count of tech start-ups has tripled. Economic growth and investment of the region has also fueled the innovation activities. Growth of VC Investment is higher than the regional average- Again Mexico’s score in the US Chamber of Commerce’s International IP Index is above the regional average, this is mainly driven by government efforts to increase the importance of IP rights—a critical factor in attracting and retaining start-ups. This study also includes geographical mapping of various Mexican state hot spots ripe for innovation activities.

Table of Contents

Executive Summary—Key Findings

Social Factors— Mexico to Benefit from Demographic Tailwinds

Social Factors—The Mexican Middle Class to Surge in the Next Decade

VC Investment will Continue to Pick up Speed

The Innovation Environment Across Economies

Key Factors Boosting Innovation in Mexico

Future Connectivity Trends Leading to Mexico’s Digital Transformation

Top Technology Innovation Areas

Digital will Transform Mexico’s Industries, Creating a Vibrant Ecosystem for Tech Start-ups

The Future of Industry in Mexico

Innovation Benefits of Emerging and Growing Industries

Future of Mexican States—Mapping of State Hot Spots Ripe for Innovation Activities

Investing in Mexico’s Innovation Future will Yield Significant Dividends

Social Trends—Three Defining Indicators

Social Factors—Mexico to Benefit from Demographic Tailwinds

Mexico to have the Highest Working Age Population Share in LATAM

Mexico’s Education Sector—Education Policy Outlook

Digital Skills to Continue Growing in Mexico

Social Factors—The Mexican Middle Class to Surge in the Next Decade

Women Economy Rising in Mexico

VC Investment will Continue to Pick up Speed

Mexico’s Start-up Culture is Helping to Build LATAM’s Silicon Valley

The Innovation Environment Across Economies

Innovation Clusters Explained

Key Indicators for Emerging Innovators

Indicators for Emerging Innovators—Comparative Analysis

Key Factors Boosting Innovation in Mexico

R&D Investment is Low but Supported by the New Administration

New Business Growth is Accelerating in Mexico

Mexico is Leading LATAM in Global IP Protection

Patents and IP Commercialization are Highlights

Social Trends Driving Innovation—Key Implications

Technological Trends—Three Defining Indicators

Digital Mexico has Evolved Significantly in the Past 10 Years

Future Connectivity Trends Leading to Mexico’s Digital Transformation

Mexico’s National Digital Strategy to Augment its Digital Ecosystem

Tech Investment by the Mexican Government has Increased Significantly

Top Technology Innovation Areas

The AI Revolution will Accelerate the Progress of Innovation

Big Data is Fast Approaching the Billion-Dollar Mark in Mexico

Cybersecurity Presents Opportunities for Specialized Innovation

Advanced Manufacturing is Critical to Mexico’s Future

Mexico’s IoT Ecosystem will Converge with Emerging Tech

The IIoT is Entering All Major Verticals

Digital will Transform Mexico’s Industries, Creating a Vibrant Ecosystem for Tech Start-ups

eCommerce will Continue its Fast Upward Growth

Digital Transformation in Retail—Case Study: Coppel

Mexico Offers the Ideal Setting for a Living Lab

Digital Transformation in Agriculture—Case Study: KYSO Agritech

The 5 Pillars of Digitization will Drive Mexico’s Automotive Sector

Digital Transformation in Automotive and Logistics—Case Study: Logiety

Mexico is LATAM’s Fintech Hub

Digital Transformation in Financial Services—Case Study: Kueski

Industry 4.0 will Boost Mexican Productivity

Digital Transformation in Manufacturing—Case Study: Jabil

Digital Transformation in Manufacturing—Case Study: Stanley Black & Decker

Technological Factors Driving Innovation—Key Implications

Economic Factors—Three Defining Indicators

The Future of Industry in Mexico

Innovation Benefits of Emerging and Growing Industries

EVs will be a Small but Growing Area for Innovators

R&D will Complement Medical Device Manufacturing

Mobile will Dominate Telecom Growth

Green and Smart Innovation will Stem from Construction

eCommerce Giants are Finding Success in Mexico

Tourism will Continue to Thrive in Mexico

Innovation will be Core to Aviation and Aerospace Growth

Methodology for the Mapping of State Hot Spots Ripe for Innovation Activities

The Future of Mexican States—Innovation Quotient

The Future of Mexican States—Innovation Quotient (continued)

Future of Mexican States—Mapping of State Hot Spots Ripe for Innovation Activities

Economic Factors Driving Innovation—Key Implications

The Value of Innovation—Three Defining Indicators

Investing in Mexico’s Innovation Future will Yield Significant Dividends

Simulating Innovation is Fundamental to Long-Term Economic Prosperity

Key Areas of Innovation Investment

The Value of Innovation—Key Implications

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Related Research
Mexico’s demographic favorability through the next decade, its focus on education to fully capitalize the growing working and escalating digital accessibility, and its growing start-up business support mechanisms advocates the expanding Mexico’s culture of innovation. Though Mexico spend less than 1% of GDP in research and development compared to other developed nations like US, Korea and Singapore but the nation has been rapidly rising in the Innovation index compared to other nations over the past few years because of steady reforms and dynamic policies. Doing so has resulted in increasing amounts of VC investment. Increases in technology investment by the Mexican government, coupled with pro-private investment schemes, will encourage multinationals to view Mexico as a viable locale for centers focused on emerging technologies, such as artificial intelligence (AI), the Internet of Things (IoT), and cybersecurity. Because of emerging technologies, traditional industries are reinventing themselves. Mexico has the opportunity to participate in these reinventions by investing in innovation that can be exported regionally and globally, generating value that will resonate through the coming decades. Mexico has the ability to be the innovation leader in Latin America for emerging industries, such as EV development; 4G/5G telecommunications rollout; and affordable, smart, and green housing; as well as in more established areas, including tourism and medical devices. The key to Mexico becoming the innovation gateway for Latin America is in nurturing R&D and startup ecosystems that build on the progress Mexico is already making. This study has identified social, technological and economic factors as key contributors to innovation and future investment in Mexico. Demographic factors , education developments, growth of the Mexican middle class, women contribution to the economy, entrepreneurial and start-up developments in Mexico are some of the social factors contributing to the growing innovation culture in Mexico. Mexico’s working age population is expected to peak at approximately 68% in 2033, surpassing the working age share of total population for all other LATAM countries. Mexico’s demographic shift is expected to increase the region’s economic prosperity, driving infrastructure development and advancing innovation and technological adoption. Digital indicators like future connectivity trends, government enablement of technology growth, growth in technology innovation areas are some of the technological factors leading to innovation growth in the region. With the largest fintech ecosystem in LATAM (Latin America), Mexico is capable of building multiple start-up hubs in cities such as Mexico City, Guadalajara, Monterrey, and Tijuana. Since 2010, Mexico’s count of tech start-ups has tripled. Economic growth and investment of the region has also fueled the innovation activities. Growth of VC Investment is higher than the regional average- Again Mexico’s score in the US Chamber of Commerce’s International IP Index is above the regional average, this is mainly driven by government efforts to increase the importance of IP rights—a critical factor in attracting and retaining start-ups. This study also includes geographical mapping of various Mexican state hot spots ripe for innovation activities.
More Information
No Index No
Podcast No
Author Malabika Mandal
Industries Cross Industries
WIP Number K368-01-00-00-00
Is Prebook No
GPS Codes 9A3B