The advertising and market research sector in Mexico experienced considerable fluctuations from 2013 to 2023. The sector saw substantial growth until 2018, peaking at 40.97 billion MXN. A slight dip occurred in 2019, followed by a significant decline in 2020 due to COVID-19 impacts. However, the industry rebounded in 2021 with a 21.62% increase and recovered to 40.05 billion MXN in 2023, reflecting a 10.26% year-on-year growth.
Future trends to watch for:
- Sustainable and modest growth is anticipated for 2024 and beyond, with a forecasted CAGR of 1.98% over the next five years, projecting the market to reach 45.37 billion MXN by 2028.
- Technological advancements and digital transformation in advertising and market research could play a pivotal role in driving sector growth.
- Emerging trends in consumer behavior and data privacy regulations may shape industry strategies and investments.
Latest reports
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