Fast Market Research recommends "Mexico Information Technology Report Q1 2014" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 01/06/2014 -- Mexico stands out as the second largest IT market in Latin America behind Brazil. Its proximity to the US is a huge advantage, ensuring consumers and businesses gain access to the latest services and products. We estimate the market passed MXN200bn in value in 2012 and will rise steadily to MXN260bn by 2017. Government projects aimed at getting more of the population online and providing e-government services will underpin market growth, while new developments such as cloud computing will provide strong growth impetus. The IT services segment will be supported by IT outsourcing demand from the US and key industries such as telecoms and financial services. Headline Expenditure Projections
- Computer hardware sales: MXN96.7bn in 2013 to MXN117.4bn in 2017, increasing 21.4% over the period. Migrations to Windows 8 should provide a boost to hardware upgrades in the short term, while increased connectivity and lower internet prices will help spur demand.
- Software sales: Fastest growing segment of the market, increasing from MXN39.8bn in 2013 to MXN50.1bn in 2013, an increase of 25.9%. Downside risk to this outlook depends on the success in bringing down illegal software use, which at 63% is well above OECD levels.
- IT services sales: This will increase from 35.3% of the market to 35.6% between 2013-2017, rising to MXN92.7bn. Driving growth will be sectors such as government, telecoms and financial services.
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Risk/Rewards Ratings: Mexico's score is 49.8 out of 100.0. Mexico ranks fourth in the Americas region in our latest RRR table.
Key Trends And Developments
- Government efforts to reduce the digital divide are beginning to come to fruition. The government will remain a major spender in the IT market over our five-year forecast period 2013-2017, with initiatives to provide greater e-government services and support informatisation for enterprises. SMEs will increasingly push growth trends as companies use IT services and software to lower their costs and improve efficiency.
- Increased access to mobile data networks will change the nature of hardware sales and IT service usage. Greater connectivity for fixed and mobile devices will drive interest in cloud computing, with the service's advantages easier to appreciate as networks extend and improve to offer the speeds necessary for a move to the cloud.
- Cities such as Mexico City, Guadalajara and Monterrey are the key markets for IT hardware, but we believe states in the south east and pacific regions offer growth over the medium term. New financing to acquire devices will help extend the reach of networks, to encourage more Mexicans to acquire the devices to get online.
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