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Technology Trends Making Entrepreneurs Turn to Mexico

When it comes to exporting commodities, Mexico already has a strong connection to the US and the global economy.

Technology Trends Making Entrepreneurs Turn to Mexico
Relations Between Mexico and Science & Technology

Manufacturing has become a more tech-driven business, and Mexico’s factories are keeping up with the technological advancements and innovation that are altering the industry. The manufacturing sector is technologically advanced and capable of supporting increasingly complicated output, thanks to its highly trained labor and infrastructure expenditures in Mexico.

In reality, each year, the World Intellectual Property Organization’s Global Innovation Index places Mexico higher on the list, owing to the country’s creative and technological production as well as high-tech industry.

Schneider Electric, a sensor powerhouse, won the state’s Nuevo León 4.0 Award in 2019 and 2020 for its manufacturing in Monterrey, Nuevo Leon. To improve process efficiency and overall market competitiveness, the factory uses the company’s IoT-enabled EcoStructure technology. According to reports, the connected solution increased factory productivity by 10%, reduced energy consumption by 10%, and increased worker safety by 15%.

Bosch, which has been producing sensors and other electronics in Mexico since 1955, has created a smart factory for its second automotive electronics unit. Intelligent production lines that will collect and communicate real-time product information and enable preventive maintenance are part of the company’s USD $120 million investment in Apaseo el Grande, just outside of Queretaro.

Reasons Behind Mexico’s Tech Growth

In its 2019 report on education in Mexico, the Organization for Economic Cooperation and Development observed that the country has achieved great progress in raising educational attainment across the board. The government’s efforts to increase the quality of early childhood education, as well as the introduction of obligatory upper secondary education in 2013, have been successful in improving this rate, according to the research. Higher education institutions have also attempted to boost their graduation rates by expanding their missions, geographic reach, and distant learning options.

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When it comes to exporting commodities, Mexico already has a strong connection to the US and the global economy. Its extensive network of highways, railways, international airports, and deep-water ports facilitates the rapid delivery of commodities to markets. The Mexican government is now taking initiatives to improve technology-based infrastructure and connectivity across the country in response to the changing needs of the manufacturing sector. President Andrés Manuel López Obrador announced a package of 39 infrastructure projects in collaboration with the private sector as recently as October 2020. This MXN $300 billion investment would go toward improving communications, energy, and water infrastructure.

“The agility afforded by such technologies has helped early adopters to experience the advantages of their investments by pivoting more swiftly and smoothly amid the disruptions generated by COVID-19,” according to the research. As organizations attempt to adjust to the coming “new normal,” such instances of resiliency and adaptation are likely to accelerate the adoption of sophisticated manufacturing technology and processes.

Technology Trends Making Entrepreneurs Turn to Mexico

Mexico has discovered the value of flexibility. According to Frost & Sullivan, the Mexican IIot market will increase at a CAGR of 25.6 percent from $1.6 billion in 2018 to $4.0 billion in 2022. Industry 4.0 adoption hinges on IoT connectivity, which is a significant driver of more streamlined and efficient production processes.

Why are Entrepreneurs making their way to Mexico?

Despite the fact that the present Covid-19 scenario has had a detrimental impact on Mexican enterprises, some organizations have decided to continue investing in research to develop software solutions.

One of the pillars of modern technology has been artificial intelligence (AI). It’s associated with the phrase “smart,” like in smartphones, smart automobiles, and smart toilets. Several Mexican electronic gadget manufacturers are currently adopting AI algorithms to produce advanced smart items that are easy to use. Furthermore, software development businesses are incorporating artificial intelligence (AI) into their computers to assist reduce failure rates, speed up development, and provide realistic cost and timeframe predictions for software development and strategic management.

Multiple software development companies have been under pressure to hire top-notch IT programmers to write for new software and have spent a lot of money on labor. IT businesses in Mexico are expected to start adopting AI and IoT infrastructure in 2022 without owning copyrights to any proprietary cognitive programming or server. It will aid in the reduction of coding expenses and the acceleration of software development processes. If you apply this game-changing idea of no-code interfaces into your firm, insufficient programming experience or comprehension of data structures will no longer be a barrier.

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Many IT firms have engaged in software development to get a competitive advantage over their competitors and to keep up with technological advancements in Mexico and other nations across the world. With studies indicating that more corporations will invest more cash for software development in 2022, it’s critical that you gather resources to be among the top IT firms. If your firm is headquartered in the United States and your financial analysis report indicates that outsourcing software development services to a nearshore company will save you money, you can outsource software development solutions to Mexico.

Written By

Yashi Saxena is a News Analyst and Author at Empire Weekly. She was born and brought up in Rampur Uttar Pradesh. She is a B.tech graduate and currently pursuing her MBA in finance. Writing her heart down through poems and stories gives her peace and clarity about her thoughts and she believes when she writes more she learns more. Someone who knows her would call her cheerful, emotional, and hard working.

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