The production volumes of ICT services in Mexico have experienced fluctuations from 2013 to 2023, with actual volumes standing at 8.06 billion Mexican Pesos in 2023. Key past trends demonstrate a mixture of growth and decline periods, particularly noticeable with declines in 2016, 2018, and 2020. Year-on-year variations reveal significant dips, particularly in 2018 and 2020, and slight recoveries in subsequent years. The compound annual growth rate (CAGR) over the past five years up to 2023 is modest at 1.01%.
Future forecasts indicate a slightly optimistic yet modest growth trend, with a predicted CAGR of 0.22% from 2024 to 2028, culminating in an estimated value of 8.19 billion Pesos by 2028. Hence, the overall growth from 2023 to 2028 is projected to be relatively stable but minimal.
Future trends to watch for:
- Technological advancements and their impact on ICT services efficiency and innovation
- Government policies and investments in ICT infrastructure
- Global economic conditions influencing ICT demand and service prices
- Competition and market saturation in the ICT sector
