Mexico Cloud Computing Market | Analysis 2019-2031

MEXICO CLOUD COMPUTING INDUSTRY SNAPSHOT

• The Mexico cloud computing market is expected to experience healthy growth in the near future, expanding at a CAGR of 19.11% during 2023 to 2031, to achieve market value of US$ 45.28 billion in 2031.
• Among the different segments within the cloud computing market, the Software as a Service (SaaS) segment is projected to be the largest segment in the Mexico.
• By end user, the IT and Telecom sector to remain dominant in the Mexico cloud computing market throughout the forecast period.
• The market is witnessing a surge in Public Cloud adoption in Mexico, with a market value reaching US$ 30.59 billion by 2031, primarily fuelled by growing demands for scalability, agility, and cost efficiency.
• In summary, the presented facts and figures underscore the promising potential of Mexican cloud computing market, pointing towards significant growth in the upcoming years.

MEXICO CLOUD COMPUTING INDUSTRY SCENARIO, TRENDS, AND DEVELOPMENTS

The cloud–based services model has revolutionized the entire IT industry in last one decade owing to dramatic adoption in SaaS based model and public cloud services. According to industry experts, around 80% of end user enterprises in Mexico use cloud-based services either through private or hybrid cloud models. In Mexico, adoption of cloud computing is anticipated to grow due to rising IT spending by end user organizations from public and private sectors on migration towards cloud. This is stimulating the growth of Mexico cloud computing market. Also, favourable government initiatives will result in contraction of entry barriers for cloud vendors in the country and lower the investment risk associated with technological obsolescence and changes, thereby boosting Mexico cloud computing industry expansion.
 

Cloud computing is being largely considered as the next generation computing revolution across major end user verticals such as public sector, BFSI, healthcare, and retail sectors. This is likely to present new opportunities for cloud service providers in the country. Furthermore, government agencies in Mexico are going digital and focused towards offering cloud-based e-government services which in turn is fuelling growth of the Mexican cloud computing market. Other key factors such as flexible pricing & customization related to cloud service subscriptions, consumerization of information technology, and growing internet penetration is promoting growth of the cloud computing market in Mexico. However, inefficient fibre optic network and connectivity infrastructure and threat of data security are primary obstacles impeding Brazil cloud computing market growth. Moreover, the Brazilian cloud computing industry has seen various developments and trends in recent years.
 

• Mexico's digital economy constitutes around 25% of its overall GDP, with cloud services emerged as key drivers of economic growth. Recent advancements in network connectivity and the technology industry have catalysed the expansion of e-commerce and the development of startups, further amplifying the nation's digital landscape.
   
• In September 2022, Amazon unveiled plans to inaugurate a 'local zone' in Mexico in early 2023, with an aim to enhance bandwidth capacity for Mexican enterprises utilizing cloud computing services. This hub will bring computing, database, storage, and other IT services closer to large populations and IT centres. Thus, is expected to fuel progress of Mexico cloud computing market during the forecast period.
   
• Microsoft made headlines in February 2020 with its announcement of a US$1.1 billion investment initiative geared towards propelling digital transformation in Mexico. As a part of “Innovate for Mexico” strategic initiative the company planned to utilize the investment on its first cloud datacenter in the country as well, thereby catalyzing Mexico's digital evolution.
   
• Huawei Cloud made significant strides in 2019 by introducing public cloud services especially for finance, media, government, and telecommunications sectors in Mexico. With a burgeoning demand for cloud services across various industries in Mexico, cloud providers are witnessing robust market growth, prompting the rollout of innovative solutions tailored to the specific requirements of local businesses and organizations. Such developments are the way for Mexico cloud computing market growth at a faster pace.

MEXICO CLOUD COMPUTING MARKET COMPETITIVE LANDSCAPE

The intensity of competition in Mexico cloud computing market is high at present with majority of the market share is captured by organized players. Key players offering cloud services in Mexico cloud computing industry are Microsoft Corporation, Amazon Web Services, IBM Corporation, Accenture, Oracle Corporation, SAP SE, Google Inc., Rackspace, Inc., Salesforce.com, Inc., Telefonica, TIVIT Technology, Dell EMC, VMware Inc., Kio Networks, and Hewlett Packard Company. Prominent cloud service providers are aiming at enhancing their existing cloud service portfolio and delivery models such as private and public cloud model to offer one stop solution to customers. Additionally, introduction of cloud service at highly competitive price is another major strategy followed by leading players in Mexico cloud computing market.

This research report on Mexico cloud computing market has been produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.

MEXICO CLOUD COMPUTING MARKET COVERAGE: