IT Services - Mexico

Mexico

The IT Services market in Mexico is expected to witness significant growth in the coming years.
According to projections, the revenue in this sector is anticipated to reach €16.33bn by 2024.
Among the various segments within the IT Services market, IT Outsourcing dominates with a projected market volume of €5.67bn in 2024.
This indicates the strong demand for outsourcing services in Mexico.
Furthermore, the revenue in the IT Services market is expected to demonstrate a steady annual growth rate of 5.35% from 2024 to 2029.
This consistent growth trajectory is estimated to result in a market volume of €21.19bn by 2029.
When considering the average spend per employee in the IT Services market, it is projected to reach €271.90 in 2024.
This figure showcases the level of investment made by companies in Mexico to enhance their IT capabilities.
In a global perspective, it is worth noting that United States is expected to generate the highest revenue in the IT Services market, reaching €479.00bn in 2024.
This highlights the dominance of the US market in terms of revenue generation within the IT Services market sector.
Mexico's growing IT services market is driven by a skilled workforce, favorable government initiatives, and a strong demand for digital transformation solutions.

Key regions: United States, China, India, Japan, Germany

Definition:
The IT Services market encompasses a wide range of services used by organizations to create, manage, and deliver information, and it includes services that provide assistance with various other business functions. The primary goal of IT services is to ensure that information technology infrastructure, applications, and systems are effectively implemented, operated, and optimized to support an organization's business objectives and requirements. The specific range of services offered may vary depending on the service provider and the client's requirements.

Structure:

IT Services contains four distinct markets that are based on different services:

IT Consulting & Implementation covers advisory services that help businesses evaluate their technology strategies and align them with their business strategies or internal processes.
Business Process Outsourcing (BPO) refers to the transfer of entire business processes or individual activities from a company to a third party and is often IT based. BPO covers a wide variety of business processes, usually either in the back office (e.g., human resources) or in the front office (e.g., customer service in call centers).
IT Outsourcing refers to the external contracting of all IT-related services instead of relying on company-owned resources. In an IT context, these activities include IT administration, IT application, and web hosting services.
The Other IT Services market covers revenues for areas that are not specifically mentioned in the other markets, such as system integration, software installation and support, and IT education and training.

Additional Information:

The IT Services market comprises revenues, revenue change, average spend per employee, and a list of the key players in the market and their consolidated revenues. Market values represent revenues that are generated by primary vendors either directly or through distribution channels at the manufacturer price level (excluding VAT). Reported market revenues include spending by enterprises (B2B) and governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed. Key players in the market include IBM, Cognizant, Hewlett Packard Enterprise, and TCS.

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Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

Mexico, a country located in North America, has been experiencing a steady growth in its IT Services market.

Customer preferences: Mexican customers have been increasingly interested in cloud computing, digital transformation, and cybersecurity services. The demand for these services has been driven by the country's growing economy, the need for businesses to remain competitive, and the increasing awareness of cybersecurity threats.

Trends in the market: One of the main trends in the IT Services market in Mexico is the growth of the cloud computing sector. Mexican businesses are increasingly adopting cloud-based solutions to optimize their operations, reduce costs, and improve their overall efficiency. Additionally, there has been a rise in demand for digital transformation services, as businesses seek to modernize their operations and remain competitive in the market.

Local special circumstances: Mexico's proximity to the United States has made it an attractive location for outsourcing IT services. Many US-based companies have chosen to outsource their IT services to Mexico due to its lower labor costs and favorable business environment. Additionally, the Mexican government has implemented policies to encourage foreign investment and promote economic growth in the country.

Underlying macroeconomic factors: Mexico's growing economy has been a driving force behind the growth of the IT Services market. The country's GDP has been steadily increasing, and its middle class has been expanding. This has led to an increase in consumer spending, which has in turn driven demand for IT services. Additionally, the Mexican government has been investing in infrastructure and technology, which has created a favorable environment for the IT Services market to grow.

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.