The household expenditure on telecom services in Mexico has demonstrated a general upward trajectory from 2013 to 2023, starting at 351.14 billion Mexican Pesos in 2013 and reaching 489.2 billion Mexican Pesos in 2023. Annual growth rates have fluctuated over these years, with notable declines in 2015 and 2016, but overall positive growth patterns prevailed, especially post-2017. Key recent increases include a 7.12% rise in 2021 and a consistent growth around 4.6% in 2022 and 2023.
The compound annual growth rate (CAGR) over the last five years (2019-2023) has been 5.18%, demonstrating a healthy expansion in household telecom expenditures. Moving forward, the forecast suggests continued growth with a five-year CAGR of 3.13% from 2024 to 2028, projecting the market to reach 596.08 billion Mexican Pesos in 2028, indicating a forecasted growth rate of 16.65% over this period.
Future trends to watch for include:
- The potential impact of emerging technologies such as 5G and IoT on consumer spending patterns.
- Shifts in consumer behavior due to evolving digital services and online content consumption.
- Regulatory changes and competitive dynamics within the telecommunications sector.
- Economic factors influencing disposable household incomes and spending priorities.
