British Columbia is a growing hub of information and communications technology (ICT) and wireless-related businesses. B.C.'s advanced products and services are in demand globally, creating export opportunities for British Columbia's ICT and wireless companies.
B.C. exports range from software-as-a-service (SaaS) and enterprise-level solutions, to Internet of Things (IoT) and mobile technologies, cloud computing, big data and machine learning, e-commerce and quickly growing fintech and security clusters.
ICT and wireless export opportunities exist around the world. The United States, Europe and Asia have been identified as the most significant export markets.
The U.S. is a global tech leader, with multinational brand name companies in all subsectors anda large pool of investment and venture capital available. The global information technology (IT) industry market, which encompasses hardware, software, services and telecommunications, surpassed $4.5 trillion in 2017. The U.S. market accounts for approximately 31% of the total, or slightly more than $1.5 trillion.
Export markets are important for ICT and wireless companies and direct access to the U.S. market is a major advantage for B.C.’s industry.
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The Indian market for ICT products and services is projected to increase to $350 billion by 2025. Business ICT spending is increasing, led by demand from the small- and medium-enterprise sector. Disruptive technologies, such as cloud computing, social media and data analytics, are offering new avenues of growth across vertical markets for IT companies.
Mobile communication is also creating unprecedented market opportunities in India. India has the second highest number of mobile subscribers in the world. The country is also the world’s second largest smartphone market. This growth has triggered significant opportunities in value-added services (such as gaming, messaging, m-commerce and mobile Internet) and enhanced demand for mobile-based solutions and services.
Indian companies are interested in B.C.’s leading-edge research capabilities, domestic talent pool and growing hub of high technology companies.
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South Korea has made significant investments over the years in its knowledge economy and generates world-class research and innovation. It has the world’s highest level of internet connectivity and the fastest internet speeds. Consumers and companies are sophisticated early technology adopters and the country has world-leading IT and digital media clusters. South Korea has an appetite for technologies that are new, cutting edge and that provide greater efficiencies.
South Korea offers opportunities related to digital media, video gaming, mobile and other wireless technologies and e-learning applications. For example, the explosive growth of smart phones in South Korea has driven a market for video games and particularly mobile games and applications. This provides B.C. ICT and wireless companies with partnership and export opportunities.
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Japan is one of the largest ICT markets in the world. The country’s ICT infrastructure has seen considerable development in recent years, featuring some of the fastest broadband connection speeds and highest Internet penetration rates in the world. Japan continues to be one of the leaders in broadband penetration, next generation cell phone networks and gaming.These qualities support the quick spread of multi-function mobile telephones, which include camera, barcode reader, music player and contactless payment functions, as well as an increasing number of ways for people to connect to the internet.
British Columbia is a worldwide leader in the industry with diverse companies creating innovative products. Key opportunities for B.C. companies exist in mobile phone services, IC card/RFID, visual communications, online affiliate marketing, gaming and IT use in the public sector.
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In 2015, the European Commission adopted a digital single market strategy as one of its top 10 political priorities. The strategy had 16 initiatives that covered three broad pillars: promoting better online access to goods and services across Europe; designing an optimal environment for digital networks and services to develop; ensuring that the European economy and industry takes full advantage of the digital economy as a potential driver for growth. In the 2017 mid-term review, the Commission identified three main areas where further action is needed; developing the European Data Economy, protecting Europe's assets by tackling cybersecurity challenges and promoting the online platforms as responsible players of a fair internet ecosystem.
The growing demand of ICT services and wireless devices/applications within the EU creates substantial opportunities for B.C. developers and manufacturers. Focus markets for ICT products and services in the EU are Germany, France, the UK and Italy.
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