IT Consulting & Implementation - Mexico

Mexico

Revenue in the IT Consulting & Implementation market is projected to reach US$0.94bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.12%, resulting in a market volume of US$1.15bn by 2029.
The average Spend per Employee in the IT Consulting & Implementation market is projected to reach US$15.61 in 2024.
In global comparison, most revenue will be generated in the United States (US$27,220.00m in 2024).

Key regions: Brazil, Netherlands, Spain, Italy, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The IT Consulting & Implementation market in Mexico has been steadily growing in recent years, with increasing demand from both small and large businesses for technology solutions that can help them improve their operations and stay competitive in the market.

Customer preferences: Mexican businesses are increasingly looking for IT consulting and implementation services that can help them streamline their operations and improve their overall efficiency. Many businesses are also looking for solutions that can help them improve their customer experience, such as by developing mobile apps or implementing chatbots to support customer service.

Trends in the market: One of the key trends in the IT Consulting & Implementation market in Mexico is the growing demand for cloud-based solutions. As businesses increasingly rely on data to drive their operations, cloud-based solutions offer a cost-effective and scalable way to store and access data. Another trend is the growing demand for cybersecurity solutions, as businesses seek to protect their sensitive data from cyber threats.

Local special circumstances: Mexico's proximity to the United States has made it an attractive destination for US companies looking to outsource their IT services. This has created a strong market for IT consulting and implementation services in Mexico, with many businesses looking for local partners who can provide high-quality services at a lower cost than US-based providers.

Underlying macroeconomic factors: Mexico's growing economy and expanding middle class have created a strong market for IT consulting and implementation services. As businesses seek to stay competitive in the market, they are increasingly turning to technology solutions to help them improve their operations and customer experience. Additionally, Mexico's strong ties to the US and its membership in NAFTA have made it an attractive destination for US companies looking to outsource their IT services, further driving demand for IT consulting and implementation services in the country.

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.