British Columbia is a growing hub of information and communications technology (ICT) related businesses. B.C.'s advanced products and services are in demand globally, creating export opportunities for British Columbia's ICT companies.
British Columbia exports range from software, cloud computing, information technology and Internet of Things (IoT) to telecommunications and electronics manufacturing goods.
ICT export opportunities exist around the world. The United States, Europe and Asia are the most significant export markets.
The U.S. tech market is the largest in the world. British Columbia’s direct access is a major advantage to its ICT industry.
The U.S. is a global tech leader, with multinational brand name companies in all subsectors and a large pool of investment and venture capital. 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.
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The Indian market for ICT products and services is projected to increase to US $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. 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 British Columbia'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 in its knowledge economy. It generates first-rate research and innovation and has world-leading IT and digital media clusters. South Korea also has the world’s fastest internet speeds. South Korean consumers and companies are sophisticated early technology adopters with an appetite for technologies that are cutting-edge and provide greater efficiencies.
South Korea offers British Columbia partnership and export opportunities in digital media, video gaming, e-learning applications, mobile and other wireless technologies.
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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, giving Japan some of the fastest broadband connection speeds and highest internet penetration rates in the world.
Key opportunities for British Columbia’s world-leading companies exist in mobile phone services, IC/RFID cards, 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 single market strategy promotes better online access to goods and services across Europe and designs an optimal environment for digital networks and services to develop. This creates a good environment for British Columbia exports.
The European Union’s growing demand for ICT services, wireless devices and applications creates substantial opportunities for British Columbia developers and manufacturers.
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