Why this is important to Wisconsin businesses: Wisconsin companies with innovative technology could help Spain achieve its goals for a digital transformation by 2025.
The market in Spain for information and communications technology (ICT) and the Internet of Things (IoT) has experienced one of the largest increases in Europe in the last decade, and it is poised for major expansion over the next few years.
In 2020, the Spanish government laid out its Digital Strategy 2025 with goals for the digital transformation of the country that include improved connectivity, heightened cybersecurity and the use of artificial intelligence.
Large corporations such as IBM, Microsoft and HP have chosen Spain to establish their international research and development centers. Google Cloud announced plans in 2020 to set up a cloud region in Spain, and in 2021, Amazon said it would invest $3 billion USD over 10 years to create data centers in Spain.
Software sales in Spain amounted to $7.3 billion USD in 2018 and are expected to reach $8.2 billion USD in 2021. Sales of IT services totaled $12.2 billion USD in 2018 and are expected to hit $13.8 billion USD for 2021. The sector accounts for 4.3% of Spain’s gross domestic product. More than 34,000 ICT companies employ more than 496,000 workers.
Spain's modern transportation and telecommunications infrastructure—complemented by an extensive network of science and technology parks and university centers, the availability of a highly qualified workforce at very competitive costs, and its strategic position as a door opener to the Latin American and North African markets—make it an attractive destination for ICT companies.
A predominant share of Spain’s ICT technology is imported, creating an opportunity for Wisconsin companies with unique innovations. The Spanish market can be particularly well served by special offerings in niche areas; for example, big data and data mining will play a key role in giving companies the information they need to make better decisions. Other digital technologies gaining ground in the industry include garments equipped with sensors and wearable devices. In the next few years, IoT and cybersecurity are also expected to become more prevalent in the industrial environment.
Spain has ambitious plans in the ICT field but accomplishing them will require the cooperation and support of reliable trading partners.
In order to get further insights into the Spanish market, the IOT Solutions World Congress (May 10-12, 2022, in Barcelona) is a good opportunity to meet relevant players in the local industry.