The Latin America, Middle East and Africa Smart Finance Technologies Market would witness market growth of 6.3% CAGR during the forecast period (2022-2028).
Artificial intelligence applications will pervade the financial industry's front, middle, and back offices. Tailor-made products, personalized user experiences, and analytics services, intelligent service robots and chat interfaces, market trackers, automated transactions, and robot-advisors, as well as alternative credit ratings based on non-financial data and facial recognition authentication, are all examples of customer-facing applications. Smart procedures, increased information representation tools (epitomized by knowledge graphs), and natural language processing for fraud detection are among the middle and back-office applications.
Many financial institutions are still only using AI in sporadic and scattered ways, focusing on certain use cases or verticals. Leaders in the banking business, on the other hand, are using AI to alter their operations across the whole lifecycle of their digital operations. Specifically, the financial industry is realizing that algorithms are only as good as the data they use. The focus is shifting to acquiring a competitive edge from previously underutilized consumer behavior data gathered through traditional operations.
The UAE has a strong banking sector, which is governed onshore by the UAE Central Bank, which was founded in 1980. The Central Bank directs and oversees monetary, credit, and banking policy in conformity with the state's overall policy, with the goal of supporting the national economy and currency stability. It manages the UAE government's gold and foreign currency reserves, functions as a bank for UAE-based banks, and acts as the UAE's financial agent at international financial institutions.
Islamic, commercial (merchant or investment), and industrial banks are the four types of banks in the UAE. Given the size of the population, many commentators believe the onshore banking sector is overcrowded. Local banks, the majority of which are state-owned, dominate the market. The 23 licensed local banks owned more than 85% of the sector's total gross assets and 90% of its branch network as of April 2017. Furthermore, the Central Bank identifies 26 international banks with 85 branches as licensed.
The Brazil market dominated the LAMEA Smart Finance Technologies Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $11.1 Million by 2028. The Argentina market is poised to grow at a CAGR of 6.9% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 6.1% during (2022 - 2028).
Based on Type, the market is segmented into Smart Finance Platforms, Smart Finance Connectivity, Smart Finance Hardware, and Smart Finance Services. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Smart Finance Technologies Market is Predict to reach $622.6 Million by 2028, at a CAGR of 4.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Intel Corporation, Fujitsu Limited, Diebold Nixdorf, Inc., IMS Evolve, Miles Technologies, Inc., Zicom SaaS Pvt. Ltd., Zoho Corporation Pvt. ltd., GRGBanking Equipment Co., Ltd., Dialog Axiata PLC, and Virtusa Corporation.
Recent Strategies Deployed in Smart Finance Technologies Market
- Apr-2022: E Ink launched Spectra 3100 Plus, a five-color ePaper. Following this launch, the company aimed to offer a range of display sizes to enable retailers to select an appropriate size of five-color ePaper for distinct applications.
- Mar-2022: PARC launched Xerox VersaLink B7100 and Xerox VersaLink C7100 Series, new lines of new A3 Multifunction Printers. Through this launch, the company aimed to streamline office workflows while also complying with the rigorous sustainability standards in order to cut electricity costs.
- Feb-2022: Xerox completed its acquisition of Powerland, a leader in IT services. With this acquisition, the company aimed to strengthen its IT services portfolio across North America.
- Dec-2020: BASF introduced the Elastollan Soft Touch Feel TPU series. Through this launch, the company aimed to address the demand for convenience and functionality across the consumer electronics sector through the launch of this ideal solution for consumer electronics products and accessories.
- Nov-2019: BASF New Business completed its acquisition of Sculpteo, an online 3D printing service provider. This acquisition aimed to allow BASF 3D Printing Solutions to establish and commercialize new industrial 3D printing materials rapidly. In addition, the company would also leverage the expertise of Sculpteo’s management team to offer an expanded service spectrum to its customers and partners.
- Jul-2019: Xerox rolled out B205, B210, and B215, a range of affordable multifunction printers. Through this launch, the company aimed to improve small office mobility without conceding security and image quality. Moreover, the new devices also deliver wireless high-speed connectivity to enable the user to print remotely.
- Jun-2019: Xerox unveiled the Baltoro HF, the latest Inkjet Press. The new product is developed to streamline high-volume transactional work and direct brochures and mails via automated intelligence, Xerox High Fusion W-Series Inkjet Heads, and High Fusion ink.
- Feb-2019: Xerox took over Vader Systems, a liquid metal jet 3D printer manufacturer. This acquisition aimed to complement the company's vision to access a Total Addressable Market for digital/additive manufacturing.
- May-2018: E Ink teamed up with SES-imagotag, a leading provider of digital price tags. With this collaboration, the companies aimed to expand and expedite their mutual growth objectives across the retail IoT market. In addition, the companies would also focus on accelerating the adoption of electronic paper in smart retail applications.
- Jan-2018: NovaCentrix acquired the technical and business-related intellectual property of Intrinsiq Materials, an advanced materials company. Under this acquisition, the company would offer copper-based ink technology of Intrinsiq Materials to its customer in order to allow them to leverage an expanded line of capabilities.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Smart Finance Platforms
- Smart Finance Connectivity
- Smart Finance Hardware
- Smart Finance Services
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Intel Corporation
- Fujitsu Limited
- Diebold Nixdorf, Inc.
- IMS Evolve
- Miles Technologies, Inc.
- Zicom SaaS Pvt. Ltd.
- Zoho Corporation Pvt. ltd.
- GRGBanking Equipment Co., Ltd.
- Dialog Axiata PLC
- Virtusa Corporation
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Smart Finance Technologies Market, by Type
1.4.2 LAMEA Smart Finance Technologies Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. LAMEA Smart Finance Technologies Market by Type
3.1 LAMEA Smart Finance Platforms Market by Country
3.2 LAMEA Smart Finance Connectivity Market by Country
3.3 LAMEA Smart Finance Hardware Market by Country
3.4 LAMEA Smart Finance Services Market by Country
Chapter 4. LAMEA Smart Finance Technologies Market by Country
4.1 Brazil Smart Finance Technologies Market
4.1.1 Brazil Smart Finance Technologies Market by Type
4.2 Argentina Smart Finance Technologies Market
4.2.1 Argentina Smart Finance Technologies Market by Type
4.3 UAE Smart Finance Technologies Market
4.3.1 UAE Smart Finance Technologies Market by Type
4.4 Saudi Arabia Smart Finance Technologies Market
4.4.1 Saudi Arabia Smart Finance Technologies Market by Type
4.5 South Africa Smart Finance Technologies Market
4.5.1 South Africa Smart Finance Technologies Market by Type
4.6 Nigeria Smart Finance Technologies Market
4.6.1 Nigeria Smart Finance Technologies Market by Type
4.7 Rest of LAMEA Smart Finance Technologies Market
4.7.1 Rest of LAMEA Smart Finance Technologies Market by Type
Chapter 5. Company Profiles
5.1 Intel Corporation
5.1.1 Company Overview
5.1.2 Financial Analysis
5.1.3 Segmental and Regional Analysis
5.1.4 Research & Development Expenses
5.1.5 SWOT Analysis
5.2 Fujitsu Limited
5.2.1 Company Overview
5.2.2 Financial Analysis
5.2.3 SWOT Analysis
5.3 Diebold Nixdorf, Inc.
5.3.1 Company Overview
5.3.2 Financial Analysis
5.3.3 Segmental and Regional Analysis
5.3.4 Research & Development Expense
5.3.5 Recent strategies and developments:
5.3.5.1 Partnerships, Collaborations, and Agreements:
5.4 IMS Evolve
5.4.1 Company Overview
5.5 Miles Technologies, Inc.
5.5.1 Company Overview
5.6 Zicom SaaS Pvt. Ltd.
5.6.1 Company Overview
5.7 Zoho Corporation Pvt. Ltd. (WebNMS)
5.7.1 Company Overview
5.8 GRGBanking Equipment Co., Ltd.
5.8.1 Company Overview
5.9 Dialog Axiata PLC
5.9.1 Company Overview
5.9.2 Financial Analysis
5.9.3 Segmental Analysis
5.10. Virtusa Corporation
5.10.1 Company Overview
5.10.2 Recent strategies and developments:
5.10.2.1 Partnerships, Collaborations, and Agreements:
TABLE 1 LAMEA Smart Finance Technologies Market, 2018 - 2021, USD Million
TABLE 2 LAMEA Smart Finance Technologies Market, 2022 - 2028, USD Million
TABLE 3 LAMEA Smart Finance Technologies Market by Type, 2018 - 2021, USD Million
TABLE 4 LAMEA Smart Finance Technologies Market by Type, 2022 - 2028, USD Million
TABLE 5 LAMEA Smart Finance Platforms Market by Country, 2018 - 2021, USD Million
TABLE 6 LAMEA Smart Finance Platforms Market by Country, 2022 - 2028, USD Million
TABLE 7 LAMEA Smart Finance Connectivity Market by Country, 2018 - 2021, USD Million
TABLE 8 LAMEA Smart Finance Connectivity Market by Country, 2022 - 2028, USD Million
TABLE 9 LAMEA Smart Finance Hardware Market by Country, 2018 - 2021, USD Million
TABLE 10 LAMEA Smart Finance Hardware Market by Country, 2022 - 2028, USD Million
TABLE 11 LAMEA Smart Finance Services Market by Country, 2018 - 2021, USD Million
TABLE 12 LAMEA Smart Finance Services Market by Country, 2022 - 2028, USD Million
TABLE 13 LAMEA Smart Finance Technologies Market by Country, 2018 - 2021, USD Million
TABLE 14 LAMEA Smart Finance Technologies Market by Country, 2022 - 2028, USD Million
TABLE 15 Brazil Smart Finance Technologies Market, 2018 - 2021, USD Million
TABLE 16 Brazil Smart Finance Technologies Market, 2022 - 2028, USD Million
TABLE 17 Brazil Smart Finance Technologies Market by Type, 2018 - 2021, USD Million
TABLE 18 Brazil Smart Finance Technologies Market by Type, 2022 - 2028, USD Million
TABLE 19 Argentina Smart Finance Technologies Market, 2018 - 2021, USD Million
TABLE 20 Argentina Smart Finance Technologies Market, 2022 - 2028, USD Million
TABLE 21 Argentina Smart Finance Technologies Market by Type, 2018 - 2021, USD Million
TABLE 22 Argentina Smart Finance Technologies Market by Type, 2022 - 2028, USD Million
TABLE 23 UAE Smart Finance Technologies Market, 2018 - 2021, USD Million
TABLE 24 UAE Smart Finance Technologies Market, 2022 - 2028, USD Million
TABLE 25 UAE Smart Finance Technologies Market by Type, 2018 - 2021, USD Million
TABLE 26 UAE Smart Finance Technologies Market by Type, 2022 - 2028, USD Million
TABLE 27 Saudi Arabia Smart Finance Technologies Market, 2018 - 2021, USD Million
TABLE 28 Saudi Arabia Smart Finance Technologies Market, 2022 - 2028, USD Million
TABLE 29 Saudi Arabia Smart Finance Technologies Market by Type, 2018 - 2021, USD Million
TABLE 30 Saudi Arabia Smart Finance Technologies Market by Type, 2022 - 2028, USD Million
TABLE 31 South Africa Smart Finance Technologies Market, 2018 - 2021, USD Million
TABLE 32 South Africa Smart Finance Technologies Market, 2022 - 2028, USD Million
TABLE 33 South Africa Smart Finance Technologies Market by Type, 2018 - 2021, USD Million
TABLE 34 South Africa Smart Finance Technologies Market by Type, 2022 - 2028, USD Million
TABLE 35 Nigeria Smart Finance Technologies Market, 2018 - 2021, USD Million
TABLE 36 Nigeria Smart Finance Technologies Market, 2022 - 2028, USD Million
TABLE 37 Nigeria Smart Finance Technologies Market by Type, 2018 - 2021, USD Million
TABLE 38 Nigeria Smart Finance Technologies Market by Type, 2022 - 2028, USD Million
TABLE 39 Rest of LAMEA Smart Finance Technologies Market, 2018 - 2021, USD Million
TABLE 40 Rest of LAMEA Smart Finance Technologies Market, 2022 - 2028, USD Million
TABLE 41 Rest of LAMEA Smart Finance Technologies Market by Type, 2018 - 2021, USD Million
TABLE 42 Rest of LAMEA Smart Finance Technologies Market by Type, 2022 - 2028, USD Million
TABLE 43 Key Information – Intel Corporation
TABLE 44 Key Information – Fujitsu Limited
TABLE 45 Key Information – Diebold Nixdorf, Inc.
TABLE 46 Key Information – IMS Evolve
TABLE 47 Key Information – Miles Technologies, Inc.
TABLE 48 Key Information – Zicom SaaS Pvt. Ltd.
TABLE 49 Key Information – Zoho Corporation Pvt. Ltd.
TABLE 50 Key Information – GRGBanking Equipment Co., Ltd.
TABLE 51 Key Information – Dialog Axiata PLC
TABLE 52 Key Information – Virtusa Corporation
List of Figures
FIG 1 Methodology for the research
FIG 2 SWOT analysis: Intel corporation
FIG 3 SWOT Analysis: Fujitsu Limited