The advertising and market research sector in Mexico has shown steady growth from 2013 to 2023, with the value standing at 34.55 billion Mexican Pesos in 2023. The year-on-year variation over the last two years has seen rates of 3.02% in 2022 and 2.88% in 2023, indicating a relatively stable growth during this period. The compound annual growth rate (CAGR) over the last five years reaching up to 2023 is 2.67%. Projections for the next five years forecast a CAGR of 2.14%, with the sector expected to reach 39.6 billion Mexican Pesos by 2028, representing an overall growth rate of 11.19% from 2023.
Future trends to watch for include the increasing impact of digital advertising, driven by higher internet penetration and the adoption of new technologies. Additionally, data-driven market research and the application of advanced analytics will be key in shaping the sector's future dynamics.
