From 2013 to 2023, the Gross Value Added (GVA) of IT services in Mexico has generally shown a positive growth trend, albeit with some fluctuations. Notable annual increases occurred in 2014 (5.89%), 2015 (6.34%), and 2017 (7.33%), indicating periods of robust growth. A significant decline (-5.91%) was witnessed in 2020, primarily due to the COVID-19 pandemic, but the sector rebounded quickly with a strong recovery in 2021 (8.74%) and a substantial increase in 2022 (12.54%). The data shows that in 2023, the IT services sector GVA stood at 45.88 Billion Mexican Pesos, with a modest growth of 0.88%. The compound annual growth rate (CAGR) over the last five years has been 4.33%. Looking forward, the forecast suggests a slower yet steady growth rate, with a five-year CAGR of 1.94% and an overall growth rate of 10.1% by 2028.
Future trends to watch for include:
- Continued digital transformation across industries, driving demand for IT services.
- Increased adoption of cloud computing, AI, and cybersecurity solutions.
- Expansion of IT service offerings by local firms to remain competitive with global players.
- Government initiatives and policies to boost the IT sector.