During the last year, the Mexican electronics industry has seen significant growth. This is due to the conditions that companies are currently experiencing and the difficulties they are facing. It has become increasingly necessary to find new solutions to optimize costs in supplies for production processes.
Electronic technology has become essential due to the increasing use of circuits. Every piece of equipment, computer, or machine has a system based on them. For this reason, in countries like Mexico, where the electronics industry represents a sector of essential opportunities, great interest, and an optimistic vision has been generated.
Mexico’s electronics industry has gained a significant global role.
The role of the Mexican electronics industry has become evident around the world. After all, Mexico is well positioned in the rankings for the electronics industry, and this reflects how changes have taken place concerning the objectives of the Mexican company.
Initially, Mexico focused its production on its domestic market; however, the Latin American country has become a significant assembler and exporter. Proof of this is the almost 60,902 million dollars registered in exports, according to data from the Department of Commerce.
Mexico’s electronics manufacturing industry could position the country as a global hub for this market. Companies from other countries have already shown interest in using Mexican production plants.
Challenges and opportunities for Mexico’s electronics industry
cIt is clear that electronic manufacturing services in Mexico will have a challenging road to consolidation. They are currently facing challenges, among which we can highlight the following:
Establishment of global networks in association with leading companies in the electricity sector. The aim is for companies to collaborate through competition, allowing us to create significant advantages in the Mexican electronics supply chain.
Shortening cycles in Mexico’s electrical equipment manufacturing industry. This is one of the trends that has gained the most important among companies. After all, it makes it possible to respond to customer needs.
They are taking center stage in the face of the diminished participation of other countries. Mexico can gain the ground that countries like Japan and the United States have ceded. After all, the latter preferred moving their production plants to third countries.
Of course, we must not only talk about the challenges facing the electronics technology industry in Mexico. There are many opportunities to highlight, among which we mention the following:
- High demand for electronic components from other countries.
- Massive variety of areas within electronics that are growing and represent market opportunities. We highlight the automotive, medical, aerospace, computer, and industrial sectors.
- Specific industries, such as automotive, have followed the electronics industry trend. This represents new opportunities to take advantage of.
- Mexico can train highly qualified labor. This means that companies will always have the proper personnel.
- The Mexican government has been seen as a guarantor of technological development in the country. This can be seen in the legal instruments that support the activity of the Mexican technology industry.
Thanks to the opportunities available to the electronic technology industry in Mexico, growth can be exponential. That is why the outlook is identified as positive to see the Mexican nation as an exporting hub.
What public policies are in place for the Mexican electronics industry?
One thing we can highlight about the Mexican electronics industry is its excellent legal framework. We highlight instruments such as:
- Drawback: This allows exporters to reduce taxes on their products. It is a refund based on the amount paid.
- PROSEC: represents the possibility for manufacturers to import with preferential tariffs.
- IMMEX: which benefits companies when importing machinery or technology. It is a means that simplifies the procedures that must be complied with for the such purpose.
The Mexican government seeks to encourage electronic manufacturing companies in Mexico with these instruments. After all, it grants enormous facilities so that they can continue to grow in the market.
There are enormous possibilities for the Mexican technology industry.
While it is true that there are many challenges to overcome, the Mexican electronics industry can continue to grow. Some of the major powers have chosen to leave gaps that Mexico’s manufacturing sector can fill.
Technology continues to advance, and to be competitive requires an ideal scenario. Given Mexico’s political and economic condition, the stage is set for even more significant growth.
