DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/gbrh3p/smart_card_market) has announced the addition of the "Smart Card Market in Latin America 2015-2019" report to their offering.
The Smart Card market in Latin America to grow at a CAGR of 8.8 percent over the period 2014-2019.
The report, the Smart Card Market in Latin America 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the Smart Card market in Latin America and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
The increased adoption of near- field communication payments is a major trend emerging in this market. With growing awareness of NFC payment solutions, the adoption of smart cards by the BFSI sector is increasing. NFC-enabled mobile devices operate in card emulation mode for mobile contactless payments. Therefore, they are being widely adopted by some of the emerging sectors.
According to the report, the entry of prominent global vendors in developing countries is one of the major drivers of growth. As Latin America lacks local players with expertise, it is the global players who control the market in this region. This leads to a high degree of competition among vendors, which forces them to offer smart cards at nominal rates.
Further, the report states that smart cards are priced high in developing countries because of the small number of vendors. However, in regions where there are a large number of vendors, there is intense competition, leading to price wars among vendors, thereby forcing them to reduce the prices of smart cards, and this poses a serious challenge for the Smart Card market in Latin America.
To calculate the market size, the report considers revenue generated from the sales of the following type of smart cards:
The report consolidates the revenues generated from the following major sectors:
- BFSI Sector
- Government Sector
- Transportation Sector
- Giesecke & Devrient
- Oberthur Technologies
- Watchdata System
Other Prominent Vendors
- AB Note
- Arm Holdings
- Crocus Technology
- Infineon Technologies
- Inside Contactless
- Verifone System
For more information visit http://www.researchandmarkets.com/research/gbrh3p/smart_card_market