Benelux: Smart Card Market 2024

Smart Card Market Size in Benelux

The Benelux smart card market reached $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption continues to indicate a prominent expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Smart Card Production in Benelux

In value terms, smart card production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a resilient increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 114%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Smart Card Exports

Exports in Benelux

For the sixth consecutive year, Benelux recorded growth in overseas shipments of cards incorporating an electronic integrated circuit (smart card), which increased by 6% to X units in 2022. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 92% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, smart card exports expanded to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.0% against 2015 indices. The growth pace was the most rapid in 2019 with an increase of 19% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

The Netherlands represented the largest exporter of cards incorporating an electronic integrated circuit (smart card) in Benelux, with the volume of exports amounting to X units, which was approx. 76% of total exports in 2022. It was distantly followed by Luxembourg (X units), making up a 22% share of total exports. Belgium (X units) held a minor share of total exports.

Exports from the Netherlands increased at an average annual rate of +24.8% from 2012 to 2022. At the same time, Luxembourg (+29.5%) and Belgium (+6.2%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing exporter exported in Benelux, with a CAGR of +29.5% from 2012-2022. While the share of Luxembourg (+7.2 p.p.) and the Netherlands (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Belgium (-9 p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) remains the largest smart card supplier in Benelux, comprising 93% of total exports. The second position in the ranking was held by Belgium ($X), with a 5.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands amounted to +5.0%. In the other countries, the average annual rates were as follows: Belgium (+5.4% per year) and Luxembourg (+12.4% per year).

Export Prices by Country

The export price in Benelux stood at $X per unit in 2022, declining by -2.5% against the previous year. Overall, the export price recorded a abrupt decrease. The pace of growth appeared the most rapid in 2016 when the export price increased by 28% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($X per unit), while Luxembourg (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 Belgium (-0.7%), while the other leaders experienced a decline in the export price figures.

Smart Card Imports

Imports in Benelux

In 2022, approx. X units of cards incorporating an electronic integrated circuit (smart card) were imported in Benelux; growing by 33% compared with the previous year. In general, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 158% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, smart card imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when imports increased by 33%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The Netherlands prevails in imports structure, recording X units, which was approx. 90% of total imports in 2022. It was distantly followed by Belgium (X units), mixing up a 6.7% share of total imports. Luxembourg (X units) followed a long way behind the leaders.

The Netherlands was also the fastest-growing in terms of the cards incorporating an electronic integrated circuit (smart card) imports, with a CAGR of +27.2% from 2012 to 2022. At the same time, Luxembourg (+16.5%) and Belgium (+6.6%) displayed positive paces of growth. From 2012 to 2022, the share of the Netherlands increased by +24 percentage points.

In value terms, the Netherlands ($X) constitutes the largest market for imported cards incorporating an electronic integrated circuit (smart card) in Benelux, comprising 73% of total imports. The second position in the ranking was taken by Belgium ($X), with a 24% share of total imports.

In the Netherlands, smart card imports expanded at an average annual rate of +6.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Belgium (-0.8% per year) and Luxembourg (-1.3% per year).

Import Prices by Country

The import price in Benelux stood at $X per unit in 2022, with a decrease of -22.1% against the previous year. In general, the import price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 an increase of 24%. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (-6.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform