Mexico’s digitalization of business is accelerating, with surging e-commerce, growing enterprise software, IoT markets, and rising crypto adoption.
- Mexico’s eCommerce sector grew by 23% in 2022 and has consistently ranked among the world’s top five fastest-growing markets over the past four years (India, Philippines, China and Malaysia). || Source: ITA
- E-commerce now accounts for 15% of retail sales in Mexico, up from just 1% a decade ago. Online sales hit $74 billion in 2023 and are projected to reach $176.8 billion by 2026. || Source: CSIS
+ Enterprise software leads Mexico’s tech industry, generating $1.8 million in 2024 and set to surpass $2 million by 2027. Software-as-a-Service (SaaS) is projected to dominate IT products and services in the coming years. - Notably, Mexico’s IoT devices market generated $2.15 billion in 2024 and is projected to reach $4.95 billion by 2030, growing at a CAGR of 14.6% between 2025 and 2030. || Source: Grand View Research
+ Mexico ranks 16th globally in crypto adoption, as businesses and households increasingly embrace digital currencies—just behind Brazil (9th) and Argentina (15th). || Source: Alcor
