Market Entry- Removable Media Industry in Peru: Analysis of Growth, Trends and Progress (2020 - 2025)

About the Market

Removable media market including CDs, DVDs, and Blu-Ray disks, as well as diskettes and USB drive, is growing at a very fast pace as they make it easy for a user to move data from one computer to another. On the basis of application, the market is segmented into industrial automation, energy and power distribution, automotive and transportation, consumer electronics, healthcare, and military. In this era of information explosion, the problem of storing and managing data, with safety, back-up, and quick easy accessibility are reasons for increased use of storage devices. Developed regions that are technologically advanced are exploring the future of these devices through R&D. Emerging economies like China, India, Brazil, etc. have also developed their markets. Players offering products and related services in the market include Toshiba, Seagate Technology PLC, Kingston, SanDisk Corp., Netapp, IBM, etc.

About the Geography                  

Peru is located on the west coast of South America and has a republican presidential government. It has a young population with median age 25.9 years and has a workforce of 16.8 million. Peru has been voted the second safest country to do business with in Latin America by Bloomberg, due to low risk and a consistently improving credit score.

Peru is committed to free trade and is strategically positioned as a regional transport hub and Brazil’s gateway to Asia. Peru's FDI comes primarily from Spain, the United States, and Great Britain. The most appealing points in terms of FDI are the low cost of wages and the non-restrictive policy concerning dividends. Foreign investment in Peru is governed by the 1991 Promotion of Foreign Investment Law and the Framework Law on the Growth of Private Investment, 1991, which establishes equal treatment of national and foreign capital. PRO inversion was established by the government in 2002 and is the sole representative of current and future investors, which took part in the privatization of public companies and industries based on natural resources. Peru has also signed the constituent agreement of the International Center for Settlement of Investment Disputes (ICSID). Foreign capital can be invested in all sectors of economic activity without prior authorization, except for a few sectors, such as the press, or implantations in border zones.

There are several challenges like corruption, bureaucracy, dispute with the native population over natural resources, language barrier, and technology. Peru’s policies allow foreign-owned companies to setup corporation, closed corporation, limited liability company, branch office, joint venture, distributor, or public corporation type company.

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