Generative AI - Mexico

The Generative AI market in Mexico is seeing an extraordinary growth rate, fueled by factors like widespread adoption of digital technologies, increased health consciousness among consumers, and the convenience of online health services. This market's growth is primarily impacted by the country's strong focus on advancing artificial intelligence in various industries.

Customer preferences: As the use of Generative AI continues to expand in Mexico, there is a growing trend towards personalized and tailored solutions in various industries. This is driven by consumer preferences for more personalized experiences and the desire for products and services that cater to their specific needs and preferences. Additionally, there is a shift towards incorporating cultural and demographic nuances into AI algorithms to better understand and cater to the diverse Mexican population. This trend is also fueled by the increasing adoption of technology and the rise of digital natives in the country.

Trends in the market: In Mexico, the Generative AI market is experiencing a significant increase in demand, as companies across various industries are incorporating AI-driven solutions to improve efficiency and productivity. This trend is further fueled by the government's initiatives to promote digital transformation and innovation. Additionally, there is a growing focus on using Generative AI for creative tasks, such as content creation and design, in industries like advertising and media. This trajectory is expected to continue, with the potential to revolutionize traditional production processes and disrupt the job market. Industry stakeholders must adapt to these changes and invest in AI capabilities to remain competitive in the evolving market.

Local special circumstances: In Mexico, the Generative AI Market within the Artificial Intelligence Market is experiencing significant growth due to the country's strong focus on innovation and technological advancements. The government has actively encouraged the adoption of AI in various industries, such as healthcare and finance, leading to a surge in demand for generative AI solutions. Additionally, Mexico's close proximity to the United States has allowed for easy access to resources and expertise, further fueling the growth of the market.

Underlying macroeconomic factors: The Generative AI market in Mexico is greatly affected by macroeconomic factors such as the country's economic stability, government policies, and technological advancements. Mexico's strong economic growth and supportive regulatory environment have fostered a conducive environment for the growth of the Generative AI market. Additionally, the country's increasing investment in AI technology and digital infrastructure has further propelled the market's growth. Moreover, the rising demand for AI-driven solutions across various industries, such as healthcare, finance, and retail, has also contributed to the market's expansion.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.