The IT services output in Mexico has shown steady growth over the past decade. In 2023, the value stood at 76.29 Billion Mexican Pesos. From 2013 to 2019, the market exhibited a consistent upward trend, with a notable increase in 2017 at 7.53% year-on-year. The year 2020 saw a dip of 5.4% due to global disruptions, but the sector rebounded with a significant 8.11% increase in 2021 and an impressive 11.76% rise in 2022. The year 2023 recorded a moderate growth of 1.87%. The last five years (2018-2023) had a CAGR of 4.34%, indicating steady and robust growth.
From 2024 onwards, the forecast suggests continued growth, reaching 86.41 Billion Mexican Pesos by 2028. The forecasted 5-year CAGR stands at 1.98%, with an expected 10.28% growth over the next five years, indicating a moderate but sustained expansion of the market.
Future trends to watch for include digital transformation initiatives across various sectors, increased adoption of cloud services, and the potential impact of emerging technologies such as AI and blockchain. Additionally, continued investments in IT infrastructure and cybersecurity will be critical drivers of growth in the Mexican IT services sector.
