The production of ICT and Information Services in Mexico experienced considerable growth from 2013 to 2023, with a notable increment from 34.08 billion Mexican Pesos to 64.39 billion Mexican Pesos. The year-on-year variations reflected periods of swift growth, particularly in 2014 and 2016, where it saw increases of 12.49% and 14.86%, respectively. However, the sector also encountered minor declines, like in 2020 with a 1.46% drop. The most recent year-on-year growth in 2023 stood at 3.16%, signaling a moderate yet steady uptick.
Over the last five years from 2018 to 2023, the Compound Annual Growth Rate (CAGR) averaged around 3.5%. This suggests a gradual but consistent escalation in production volumes.
Looking forward, forecasted data till 2028 indicates a continuation of this growth trajectory, with a forecasted CAGR of 2.33% and an anticipated increase in production to 74.77 billion Mexican Pesos. Future trends to watch for include technological advancements, increased digital transformation, potential policy shifts, and investment in IT infrastructure, which could significantly influence production dynamics in the ICT and Information Services sector in Mexico.
