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Trade Mission Focus on Key Sector Opportunities

Gaby M. Rojas
  • Information Technology
  • Renewable Energy,
  • Environmental Technologies
  • Safety and Security 

Information Technologies

  • Italy: Italy’s digital transformation is a top priority for Italian companies and government agencies, with the Italian government planning to spend more than USD 45.18 billion through its National Recovery and Resilience Plan. Emerging technologies include Artificial Intelligence, Blockchain, and Virtual/Augmented Reality. The Cloud for Public Administration or “national cloud” project proposed by the current government is a major catalyst for ICT investments. Spending by Italian companies in 2020 was estimated to exceed USD 2.8 billion, an increase of 24.4 percent compared to 2019. E-commerce is expected to show an annual growth rate of 16.8 percent for the period 2022-2025.
  • Spain: The country has embarked on a digital transformation and is being funded in part through 2026 by Next Generation EU funding. The country is also investing USD 680 million through 2025 in a National Artificial Intelligence Strategy and is laying the groundwork for a network of Smart Cities. Other key opportunities include cloud computing, artificial intelligence, and eCommerce. 
  • Portugal: With one of the highest rates of technology startups in Europe, Portugal is an innovation and technology leader, and key emerging player in the future of global connectivity. American-European investors are planning to put Portugal on the map of international mega data centers with a USD 3.9 billion hyperscale data center, and arrival of 4 subsea cables. As such, Portugal aims to become the major data hub between Europe, the Americas, Africa and beyond, and the gateway for growth of transatlantic connectivity. Portugal’s cybersecurity market is expected to reach over USD 200+ million in 2022. Through its Advanced Computing Portugal 2030 initiative, the country is expanding its advanced cyberinfrastructure by a factor of 100 until 2030.

Renewable Energy

  • Italy: Boasts the third-largest market in Europe for power consumption and generation from renewable sources. Italy plans to bring renewables’ share of final gross energy consumption to 30 percent by 2030, adding 60GW of new installed renewable power. U.S. exporters can find opportunities in hydrogen-related technologies, energy storage and by working directly with major Italian energy companies that launched ambitious decarbonization and sustainability strategies.
  • Spain: Spain’s investment in energy, climate, and transportation research and innovation will increase considerably in the coming years to almost USD 300 billion through 2030 to meet mid-term climate goals, 20 percent of which will be public sector investments. Spain’s green hydrogen roadmap investment is expected to reach almost USD 11 billion. Opportunities exist for U.S. firms to partner with Spanish companies in projects in Europe, Latin America, the Middle East and Africa.
  • Portugal: The country’s National Energy and Climate Plan for 2030 and roadmap to carbon neutrality by 2050 targets at least 80 percent of electricity production coming from renewables. This green transition is partly funded by EU funds via investments totaling USD 3 billion. This includes about USD 1.1 billion for green transport, USD 980 billion to decarbonize the industry sector and increase bio-based energy use, and nearly USD 914 million for improving the energy efficiency of buildings and expanding use of hydrogen and renewable fuels.

Environmental Technologies

  • Italy: Focusing heavily on waste management, Italy will invest $6.2 billion by 2026 to digitalize and improve recycling facilities and support industry transition to new production and packaging. It’s also investing USD 1.8 billion in more climate friendly waste facilities, and USD 588 million to cleanup polluted areas through its superfund. Among the opportunities are waste management technology, materials recovery, landfill gas reduction, waste-to-energy, remediation, soil conservation and erosion solutions, water treatment technologies and digital solutions.
  • Spain: Spain foresees a public investment of almost USD 9 billion in water management, treatment, and efficient use for the next six years. Solutions will be needed to address water shortages and loss of biodiversity. waste management, green and blue technology, water and air pollution control, soil remediation and waste technologies; Spanish industries will be guided by Spain’s strong commitment to climate action and focus on CO2 emissions reduction. 
  • Portugal: The country’s energy and climate plan addresses all five dimensions of the EU Energy Union: decarbonization, energy efficiency and security, internal energy markets and research, innovation, and competitiveness. To complete the decarbonization strategy by 2050, the waste and wastewater sector is expected to undergo substantial changes by 2030. New technologies will be needed to reduce the production of waste, separate collection of urban waste, biological treatment of waste and solutions to reuse and recycle materials.

Safety and Security: 

  • Italy: Widely used to protect data of increasingly smart systems, investments in Italy’s cybersecurity market totaled USD 1.7 billion in 2020. End users are receptive to advanced and sophisticated American technology such as AI solutions, cloud analytics software, mobile applications, video surveillance monitoring solutions, safety aides and CBRN solutions and tools, land/border surveillance solutions, airport screening equipment and smart cities solutions. 
  • Spain: The country has the fifth-largest security equipment industry market in Europe. Strong growth opportunities include access control and identity management, communications equipment, data analytics and storage, fire equipment for prevention, and risk management services. Drone technologies, port security/critical infrastructure, and disaster resilience are all Spanish government priorities. 
  • Portugal: Safety and security opportunities include screening and detection, surveillance and access control solutions. Portugal’s Ministry of Internal Affairs is also contemplating new possible investments in the modernization and operability of the security forces through the acquisition of armament and a wide range of equipment, including protection gear, surveillance systems and bodycams. U.S. technology is very well accepted and reputable in the Portuguese market.

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