IT Outsourcing - Mexico

  • Mexico
  • Revenue in the IT Outsourcing market is projected to reach €5.73bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.84%, resulting in a market volume of €8.75bn by 2029.
  • The average Spend per Employee in the IT Outsourcing market is projected to reach €95.37 in 2024.
  • In global comparison, most revenue will be generated in the United States (€183.00bn in 2024).

Key regions: Netherlands, United States, Japan, Germany, Italy

 
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Comparaison de régions
 
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Analyst Opinion

Mexico, known for its rich cultural heritage, is also a significant player in the IT Outsourcing market.

Customer preferences:
The Mexican IT Outsourcing market is primarily driven by cost savings, access to skilled talent, and the ability to scale operations quickly. Companies from the United States and Canada are the major customers of Mexican IT outsourcing services due to the proximity of the country and the cultural similarities.

Trends in the market:
Mexico's IT Outsourcing market has been growing steadily over the past decade, with the country being ranked as the fourth-largest IT outsourcing destination in Latin America. The country's IT outsourcing industry is expected to continue to grow in the coming years, driven by the increasing demand for software development, data analytics, and cloud computing services. The COVID-19 pandemic has also accelerated the adoption of digital technologies, leading to an increased demand for IT outsourcing services in the country.

Local special circumstances:
Mexico has a highly skilled workforce, with a large pool of IT professionals and engineers. The country also has a favorable business environment, with the government offering tax incentives and other benefits to attract foreign investment. Additionally, Mexico has a strong cultural affinity with the United States, which has helped to establish strong business ties between the two countries.

Underlying macroeconomic factors:
Mexico's IT outsourcing market is closely tied to the performance of the US economy, as the majority of its customers are from the United States. The USMCA (United States-Mexico-Canada Agreement) has also created a favorable environment for trade and investment in the region, which is expected to further boost the growth of the IT outsourcing market in Mexico. Additionally, the Mexican government's focus on developing the country's digital infrastructure and promoting innovation is expected to create new opportunities for IT outsourcing companies 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.

Vue d’ensemble

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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