The Advertising and Market Research Gross Value Added in Mexico experienced significant fluctuations over the past years. Starting from 15.44 Billion Mexican Pesos in 2013, it showed strong growth up until 2018, peaked at 23.08 Billion. There was a notable decline in 2019 and a sharp drop in 2020 due to a possible external shock, after which it rebounded steadily, reaching 22.59 Billion in 2023. Year-on-year variation in 2022 and 2023 showed growth at 7.85% after a slight decline of -1.58% the previous year. The last five years' CAGR is -0.43%, indicating minor shrinkage.
**Future Trends to Watch For:**
Looking forward, the forecasted data indicates a positive trend with a steady growth rate. By 2028, the value is expected to reach 25.65 Billion Mexican Pesos with a projected 5-year CAGR of 2.02%. This suggests a more stable and resilient growth trajectory. Future trends to monitor include the impact of digital transformation, shifts in consumer behavior, and potential economic fluctuations. Additionally, the adoption of advanced technologies like AI in advertising and market research is anticipated to create new growth opportunities.
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