The development of Mexico's ICT industry is being driven by the mobile telephony, broadband and broadcasting sectors. A major telecommunications reform bill was ratified in 2013, with the secondary laws implementing the reform being passed during 2014. The reforms are intended to increase growth in the sector, open up the market, improve the regulatory environment and increase competition.

The Mexican ICT sector represents CAD 51.6 billion annual worth in market value, which is expected to grow by 5.7 per cent in 2014. Some markets will experience double digit expansion, such as cloud services (50.8 per cent), IT services (16.1 per cent), software (15.5 per cent), cable TV and connectivity (12.5 per cent) and IT equipment (10.8 per cent).

Key drivers in the ICT market growth are software, IT services and mobile solutions. The expected dynamics of the Mexican economy in the next three years, together with the positive impacts of regulatory reforms in telecommunications and energy, provide additional opportunities. Most of the software and hardware technologies sold in Mexico are imported and are valued at CAD 2.6 billion and CAD 12.3 billion, respectively.

Mexico is also a gateway to Latin America, and can consequently provide a base for Canadian ICT firms that want to open up new markets in South and Central America, and the Caribbean. Mexican ICT firms are already doing this: América Móvil, the region's largest telecom operator, is expanding internationally and other Mexican ICT companies are following suit.