Market Insights Technology IT Services IT Outsourcing

Application Outsourcing - Mexico

Mexico

Revenue in the Application Outsourcing market is projected to reach €1.13bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.87%, resulting in a market volume of €1.18bn by 2029.
The average Spend per Employee in the Application Outsourcing market is projected to reach €18.87 in 2024.
In global comparison, most revenue will be generated in the United States (€39,180.00m in 2024).

Key regions: Brazil, Germany, United Kingdom, Netherlands, China

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

Mexico has been experiencing a steady growth in its outsourcing industry, with the Application Outsourcing market being no exception.

Customer preferences: Mexican companies are increasingly turning to Application Outsourcing services to reduce costs and increase efficiency. They are looking for providers that can offer a wide range of services, including software development, maintenance, and support. In addition, Mexican companies are also placing a greater emphasis on security and data privacy, which is driving demand for outsourcing providers with strong security protocols in place.

Trends in the market: One of the key trends in the Application Outsourcing market in Mexico is the growing popularity of cloud-based solutions. Mexican companies are increasingly adopting cloud-based technologies to streamline their operations and reduce costs. This is driving demand for outsourcing providers that can offer cloud-based solutions and services. Another trend in the market is the growing importance of automation and artificial intelligence. Mexican companies are looking for outsourcing providers that can help them automate their processes and leverage AI to improve efficiency and productivity.

Local special circumstances: Mexico has a large pool of skilled IT professionals, which is driving the growth of the Application Outsourcing market. In addition, the country's close proximity to the United States makes it an attractive outsourcing destination for US-based companies. Mexico also has a strong cultural affinity with the US, which makes it easier for Mexican outsourcing providers to work with US clients.

Underlying macroeconomic factors: Mexico's strong economic growth and stable political environment are also contributing to the growth of the Application Outsourcing market. The country's growing middle class is driving demand for technology services and solutions, which is creating new opportunities for outsourcing providers. In addition, Mexico's strategic location and trade agreements with other countries are making it an attractive destination for foreign investment. This is driving the growth of the outsourcing industry as a whole, including the Application Outsourcing market.

Methodology

Data coverage:

The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. 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 exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.