Mexico Generative AI Market Analysis, Size, and Forecast by Component, Deployment Model, Business Function, Technique, End User: 2019-2032

MEXICO GENERATIVE AI MARKET KEY TAKEAWAYS

• The Mexico generative AI market is expected to experience healthy growth in the near future, expanding at a CAGR of 28.71% during 2024 to 2032, to achieve market value of US$ 14.72 billon in 2032.
• Among the different segments within the generative AI market, the hardware 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 generative AI market throughout the forecast period.
• In summary, the presented facts and figures underscore the promising potential of Mexican generative AI market, pointing towards significant growth in the upcoming years.

MEXICO GENERATIVE AI MARKET OUTLOOK

In 2023, Mexico witnessed a notable 9.3% year-on-year rise in internet users, totalling 96.87 million, according to a report by Mexico's Internet Association (AIMX). This accounts for about 80.8% of the population aged 6 years and above, highlighting the country's swift adoption of digital connectivity and the significant influence of technological advancements on Mexican society. Since the debut of ChatGPT in November 2022, a pervasive fear of missing out on AI opportunities has permeated the corporate landscape. Speculations in Mexico generative AI industry suggest an impending surge of new AI-driven companies emerging in various sectors such as search, database management, enterprise resource planning, and supply chain management. Established players in these sectors are grappling with concerns over their relevance in the emerging Generative AI-centric era, leading to heightened paranoia. Consequently, a Generative AI "gold rush" is fuelling a flurry of Mergers and Acquisitions (M&A) activity, often at exorbitant price points, with boards approving such deals based on anticipated Return on Investment (ROI) over an extended period. The Mexico generative AI insights booklet by DataCube Research reveals that over 50% of businesses in Mexico leverage Generative AI (GenAI) to automate tasks and streamline operations.

MEXICO GENERATIVE AI MARKET TRENDS AND DEVELOPMENTS

Among companies yet to adopt AI tools, a lack of understanding of its functionalities and uncertainty about integration into existing processes are cited as barriers. These findings challenge previous assumptions, indicating widespread adoption and sophistication of GenAI across various business sizes, contrary to its perceived exclusivity to larger enterprises. The technology offers manifold benefits in a saturated market, empowering businesses to enhance consumer experiences through personalized recommendations tailored to individual budgets. Experts highlight the transformative impact of GenAI in e-commerce, enabling businesses to employ filters for curated product selections, improving the shopping journey for consumers while optimizing operational efficiency. Survey data reveals that GenAI for text leads the adoption trends, with applications ranging from content generation and summarization to translations, particularly prevalent in crafting email communications and social media content tailored to customer preferences.

MEXICO GENERATIVE AI MARKET COMPETITIVE LANDSCAPE

As generative AI systems are being developed and deployed, a new value chain is emerging to facilitate their training and utilization. While resembling a traditional AI value chain in many aspects, the emergence of generative AI introduces a new category: foundation models, alongside existing elements such as computer hardware, cloud platforms, model hubs, machine learning operations (MLOps), applications, and services. Kolors, Crabi, Aviva Credito, Trully, Confiabogado, and Tienditapp are some of the major players operating in the Mexico generative AI market.

This research report on Mexico generative AI 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 GENERATIVE AI MARKET COVERAGE: