Software - Mexico

  • Mexico
  • Revenue in the Software market is projected to reach €3.86bn in 2024.
  • Enterprise Software dominates the market with a projected market volume of €1.61bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.43%, resulting in a market volume of €4.59bn by 2028.
  • In global comparison, most revenue will be generated in the United States (€327.80bn in 2024).

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

Comparaison de régions

Analyst Opinion

Mexico, a country with a rich cultural heritage, is also known for its rapidly developing economy. The Software market in Mexico has been showing remarkable growth in the past decade, and this trend is expected to continue in the coming years.

Customer preferences:
The Mexican market is highly receptive to new technologies and software solutions. The country has a large and young population, with a growing middle class that is increasingly tech-savvy. Mexican customers are looking for software solutions that are user-friendly, cost-effective, and can be easily integrated into their existing systems. Cloud-based solutions are particularly popular, as they offer flexibility, scalability, and cost savings.

Trends in the market:
One of the major trends in the Mexican software market is the shift towards cloud-based solutions. This trend is driven by the growing demand for software solutions that can be accessed from anywhere, on any device. Another trend is the increasing use of artificial intelligence (AI) and machine learning (ML) in software development. Mexican companies are investing heavily in AI and ML technologies to improve their efficiency, productivity, and customer experience.

Local special circumstances:
Mexico has a large and diverse economy, with a mix of traditional industries and modern, high-tech sectors. The country is home to a number of multinational corporations, as well as a thriving startup ecosystem. The Mexican government has implemented a number of policies to support the growth of the software industry, including tax incentives and funding for research and development. However, the market is also highly competitive, with many local and international players vying for market share.

Underlying macroeconomic factors:
Mexico's economy has been growing steadily in recent years, driven by a combination of factors including a young and growing population, political stability, and a strategic location. The country has a highly skilled workforce, particularly in the fields of science, technology, engineering, and mathematics (STEM). However, Mexico also faces some challenges, including high levels of inequality, corruption, and crime. These factors can impact the software market by affecting consumer confidence, investment decisions, and business operations.


Data coverage:

The data encompasses B2B, B2G, and B2C enterprises, except for the Enterprise Software segment, in which consumer (B2C) spending is not considered. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

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 segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, level of digitization, GDP sector composition, and observed level of software piracy. This data helps us estimate the market size for each country individually.


In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

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 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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