ASEAN: Smart Card Market 2025

Smart Card Market Size in ASEAN

The ASEAN smart card market fell modestly to $X in 2022, remaining relatively unchanged against the previous year. In general, consumption posted prominent growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Smart Card Production in ASEAN

In value terms, smart card production expanded slightly to $X in 2022 estimated in export price. Overall, production posted a resilient expansion. The growth pace was the most rapid in 2017 when the production volume increased by 22%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Smart Card Exports

Exports in ASEAN

In 2022, overseas shipments of cards incorporating an electronic integrated circuit (smart card) increased by 3.8% to X units, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2021 when exports increased by 17%. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, smart card exports rose significantly to $X in 2022. In general, exports, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2013 with an increase of 11%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore (X units) and Malaysia (X units) represented roughly 74% of total exports in 2022. It was distantly followed by Thailand (X units), creating a 19% share of total exports. Vietnam (X units) and the Philippines (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +32.4%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest smart card supplying countries in ASEAN were Malaysia ($X), Singapore ($X) and Thailand ($X), together comprising 85% of total exports. Vietnam and the Philippines lagged somewhat behind, together comprising a further 8.4%.

In terms of the main exporting countries, Vietnam, with a CAGR of +28.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, with an increase of 2.8% against the previous year. Over the period under review, the export price, however, showed a mild decrease. The pace of growth was the most pronounced in 2018 when the export price increased by 35% against the previous year. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+2.6%), while the other leaders experienced a decline in the export price figures.

Smart Card Imports

Imports in ASEAN

In 2022, the amount of cards incorporating an electronic integrated circuit (smart card) imported in ASEAN amounted to X units, therefore, remained relatively stable against the year before. In general, imports recorded significant growth. The pace of growth was the most pronounced in 2018 with an increase of 101%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, smart card imports skyrocketed to $X in 2022. Total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.4% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by 52%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Vietnam represented the major importer of cards incorporating an electronic integrated circuit (smart card) in ASEAN, with the volume of imports recording X units, which was near 72% of total imports in 2022. It was distantly followed by Singapore (X units), mixing up a 19% share of total imports. Malaysia (X units), Indonesia (X units) and the Philippines (X units) held a minor share of total imports.

Vietnam was also the fastest-growing in terms of the cards incorporating an electronic integrated circuit (smart card) imports, with a CAGR of +36.7% from 2012 to 2022. At the same time, Singapore (+21.7%), the Philippines (+11.5%), Malaysia (+10.5%) and Indonesia (+4.4%) displayed positive paces of growth. Vietnam (+39 p.p.) and the Philippines (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Malaysia and Indonesia saw its share reduced by -9.2%, -10.8% and -13.4% from 2012 to 2022, respectively.

In value terms, Singapore ($X), Vietnam ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 67% of total imports.

Among the main importing countries, Vietnam, with a CAGR of +7.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, surging by 14% against the previous year. Overall, the import price, however, showed a abrupt shrinkage. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while Vietnam (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-3.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform