The ICT and Information Services sector in Mexico witnessed variable growth from 2013 to 2023, with values oscillating between highs and lows. As of 2023, the sector stood at 54.81 billion Mexican Pesos. Key inflection points include a significant rise between 2015 and 2017, with a year-on-year increase peaking at 11.18% in 2016. Post-2017, the sector experienced fluctuations, with slight declines in 2018 and 2020, countered by recoveries in 2021 and 2023. Over the last five years (2019-2023), the sector recorded an average annual growth rate (CAGR) of 2.35%.
Looking forward, forecasted data indicate a steady growth trajectory with an expected CAGR of 1.54% from 2024 to 2028, culminating in a projected value of 60.54 billion Mexican Pesos by 2028. This implies a cumulative growth rate of 7.96% over the forecast period.
Trends to watch for:
- Continued integration of digital services and transformation initiatives across various industries.
- Potential impacts of technological advancements such as 5G, artificial intelligence, and the Internet of Things (IoT) on sector growth.
- Government policies and investments aimed at bolstering the ICT infrastructure and digital economy in Mexico.
