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Market Entry-Fingerprint Sensor Market in South Africa: Analysis of Growth, Trends and Progress (2020 - 2025)

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About the Market

Fingerprint scanners have been there in the industry for years. Many offices, banks, healthcare facilities, homes and manufacturing centers use this technology. Mobile devices are expected to lead the fingerprint sensors market due to the increasing demand for more secure mobile devices, rise in mobile payments and mobile payment platforms such as Samsung Pay, Apple Pay, Alipay, and WeChat Pay among others. The developing nations of Asia-Pacific are expected to dominate the fingerprint sensors market between 2015 and 2020; as these countries have a considerable market size and offer a significant scope for development. The major players in the fingerprint sensors market include Apple Inc. (U.S.), Fingerprint Cards AB (Sweden), Synaptics Inc. (U.S.), Goodix Ltd. (China), Egis Technology Inc. (Taiwan), Silead Inc. (China), IDEX ASA (Norway), Safran Identity & Security (France), Thales SA (France), Suprema Inc. (South Korea), Dermalog Identification Systems GmbH (Germany), Crossmatch (U.S.), NEC Corp. (Japan), and 3M Cogent Inc. (U.S.).

About the Geography                  

South Africa is a developing, young country with a median age of 25.9 years and has a population of 52.98 million. It has a well-developed constitutional democracy. The country has brought economic reforms, which have led to macroeconomic stability and one of the largest stock exchanges in the world. The country has a well-developed transport infrastructure, sound macro conditions and robust financial and legal framework.

South Africa is among the top developing nations but faces problems such as skills deficit, poor labor relations, lack of electricity, violent crime, corruption, unemployment rate and immigration laws. In order to attract foreign investors, the government has initiated simple tax rules, investment incentives, protection of intellectual rights, and better regulatory policies through foreign investment grant, skills support program, the Protection of Investment Act, and the strategic industrial project programs. South Africa has great potential for foreign investors as it is largely a free market economy, has a transparent regulatory framework, a large population, access to raw materials and political stability.

The country is the third largest FDI recipient in Africa with most of it going to the telecommunications sector. The government is taking steps to curb the unemployment rate and provide continuous electricity. It has a large English-speaking population and hence is a popular choice for foreign investment.

Component Name

Unit

GDP (USD billion)

313

GDP Annual Growth Rate

0.6

GDP Per Capita

7575

Unemployment Rate

26.6

                                                             Wages           

1246.64

Inflation Rate

5.9

Consumer Price Index (CPI)

123

Interest Rate

7

Loans to Private Sector (USD billion)

219.536

Balance of Trade (USD billion)

0.591

Business Confidence

42

Manufacturing PMI (Index Points)

49.5 Index Points

Ease of Doing Business

73

Competitiveness Rank

47

Corruption Rank

61

Consumer Confidence

-11

Consumer Spending (USD billion)

128.347

Bank Lending Rate (Consumers)

10.5

Corporate Tax Rate

28

                                                     Sales Tax Rate              

14

 

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

 

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