Mexico Continues to Draw Companies In

Mexico’s opportune macroeconomic conditions continue to attract investment and companies, including Intel and Deere & Co. Meanwhile, the global infrastructure as a service (IaaS) market recorded 40 percent growth from 2020 to 2021. 

In international news, CyberArk launched a multimillion-dollar global fund to support cybersecurity startups. 

This week in Technology news and trends:

Mexico

Intel Plans to Decentralize Semiconductor and Chip Manufacturing

Tech company Intel announced an US$80 billion investment to decentralize semiconductor and chip manufacturing. Mexico will play a central role in the design and validation of Intel’s manufacturing process, according to an announcement by Santiago Cardona, CEO, Intel. 

Deere To Move Production to Mexico by 2024

Agriculture manufacturer Deere & Co. will move its cab production from its plant in Iowa to Ramos Arizpe, Coahuila, due to labor market frustrations in the US, impacting some 250 employees in the US state, according to Reuters. 

SAS: 30 Years of Democratizing Business Analytics in Mexico

“This year is special for SAS as it celebrates 30 years of accompanying the country's organizations in their analytics and innovation projects, during which we have witnessed advances in the way we use data and the insights,” said Hector Cobo, Regional Vice President, SAS. 

Industry Trends

Top Five IaaS Providers Control 80 Percent of Global Market 

The global IaaS market grew over 40 percent in 2022, ballooning from a market value of US$64.3 billion in 2020 to over US$90 billion. Eighty percent of the market is controlled by the top five public cloud providers, according to a press release by Gartner. 

VTEX Aims to Grow Composable Commerce Network 

“VTEX aims to grow and originate an ecosystem that generates a network effect based on platforms and technologies. Composable commerce aims to connect marketplaces that already have a user base because for many brands it is important for their products to be accessible to consumers across marketplaces,” said Alejandro Colin, Vice President of Business Development Mexico and Central America, VTEX. 

International

CyberArk Launches US$30M Fund for Cybersecurity Startups

Identity security company CyberArk created an in-house global venture capital fund to support “disruptive” startups working on security technologies that could be shared with channel partners, according to a company press release.