Between 2013 and 2023, the production volumes of advertising and market research in Mexico showed a pattern of moderate growth with some variability. In 2023, the value stood at 54.59 Billion Mexican Pesos. The highest annual year-on-year growth rate was observed in 2018 at 9.25%, while significant declines occurred in 2019 and 2020 with -0.69% and -3.53% respectively. Over the past five years, the average annual growth (CAGR) was 1.03%, indicating overall stability but modest growth.
Looking forward to the forecasted period from 2024 to 2028, the industry is expected to grow at an average annual rate (forecast CAGR) of 1.09%, reaching 58.5 Billion Mexican Pesos by 2028. The projected five-year growth rate stands at 5.58%, suggesting a continuation of steady growth.
Future trends to monitor include the impact of digital transformation on advertising and market research, consumer behavior shifts, and potential economic fluctuations in Mexico. Technological advancements and the integration of AI and data analytics could also play crucial roles in shaping the industry.
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