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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
06-Nov-2019
North America
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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List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
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| No Index | No |
|---|---|
| Podcast | No |
| Author | Malabika Mandal |
| Industries | Cross Industries |
| WIP Number | K368-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9A3B |