South America 3D Secure Authentication Market
No. of Pages: 73 | Report Code: TIPRE00024104 | Category: Technology, Media and Telecommunications
No. of Pages: 73 | Report Code: TIPRE00024104 | Category: Technology, Media and Telecommunications
SAM economy, which includes more than 10 countries, is extremely diverse. Brazil, Argentina, and Chile are among the major contributors to the economy of this region. The South American region is continuously seeking and monetizing advanced technologies to cope up with the increasing adoption rate of enhanced technologies across the globe. The countries in the region have started witnessing the emergence of 3D secure authentication technology. Numerous merchants and e-commerce platforms operate across different countries of SAM, which is projected to increase the scope of online payments. The rise in demand for card-based payment has started recently due to the easy affordability and availability of debit cards and credit cards. The increase in number of shoppers or individuals opting for card-based payment is encouraging the merchants and banks to provide authentication technology. This is influencing the 3D secure authentication market in the region.
The COVID-19 pandemic has severely impacted SAM due to wide disease spread; countries in this region are among the highly populated, which leads to the greater risk infection spread. Brazil has reported the highest number of COVID-19 cases in South America, followed by Ecuador, Chile, Peru, and Argentina, among others. Most of the commercial operations in the region have been shut down to prevent the spread of the disease. However, lockdowns imposed in cities have compelled most businesses and merchants to move online which has positively boosted the adoption of online payment portals. Increase on online payment has positively contributed towards the market growth.
Strategic insights for the South America 3D Secure Authentication provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 31.28 Million |
| Market Size by 2028 | US$ 60.96 Million |
| Global CAGR (2021 - 2028) | 10.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America 3D Secure Authentication refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The 3D secure authentication market in SAM is expected to grow from US$ 31.28 million in 2021 to US$ 60.96 million by 2028; it is estimated to grow at a CAGR of 10.0% from 2021 to 2028. Purchasing through online portals is becoming popular, and it is becoming a habit for majority of the populous. In countries like Brazil, there are more than 150 million internet users which, is contributing towards making Brazil a largest ecommerce market in SAM. The market in Brazil is also projected to reach BRL 106 billion in 2020 as per Brazilian Electronic Commerce Association. With the rise in e-commerce, security enhancements in payments will continue to be a constant concern in the market. This aspect will positively foster the penetration of 3D Secure 2.0 protocol that gives safer transactions, along with frictionless payment experience. In respect to 3D Secure 2.0, it is anticipated that adoption of debit card transaction adoption for e-commerce platform will grow in the region. With a positive increase in the adoption of debit card, the use of online payment portals will rise and give growth opportunities to 3D secure authentication technology providers.
The SAM 3D secure authentication market is segmented into component and end user. Based on component, the 3D secure authentication is segmented into solution and services. The solution segment dominated the 3D secure authentication market growth in 2020. With growing online frauds while making online payments, the penetration of 3D secure authentication solution will rise. Based on end-user, the 3D secure authentication is segmented into banks, merchants & payment processor. As merchants banks are the prominent end user of 3D secure authentication technology, the merchant & payment processor dominated the market growth in 2020. Based on country, the SAM 3D secure authentication market is segmented into Brazil and Argentina.
A few major primary and secondary sources referred to for preparing this report on the 3D secure authentication market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are GPayments Pvt. Ltd.; Modirum; Netcetera; Ravelin Technology Ltd; and UL, LLC.
The South America 3D Secure Authentication Market is valued at US$ 31.28 Million in 2021, it is projected to reach US$ 60.96 Million by 2028.
As per our report South America 3D Secure Authentication Market, the market size is valued at US$ 31.28 Million in 2021, projecting it to reach US$ 60.96 Million by 2028. This translates to a CAGR of approximately 10.0% during the forecast period.
The South America 3D Secure Authentication Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America 3D Secure Authentication Market report:
The South America 3D Secure Authentication Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America 3D Secure Authentication Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America 3D Secure Authentication Market value chain can benefit from the information contained in a comprehensive market report.
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