Iceland: Smart Card Market 2020

Smart Card Market Size in Iceland

The revenue of the smart card market in Iceland amounted to $X in 2018, increasing by X% against the previous year. Overall, smart card consumption continues to indicate a mild setback. The most prominent rate of growth was recorded in 2011 when the market value increased by X% year-to-year. Over the period under review, the smart card market attained its peak figure level at $X in 2007; however, from 2008 to 2018, consumption stood at a somewhat lower figure.

Smart Card Production in Iceland

In value terms, smart card production totaled $X in 2018 estimated in export prices. Over the period under review, smart card production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Iceland smart card production peaked at $X in 2011; however, from 2012 to 2018, production remained at a lower figure.

Smart Card Exports

Exports from Iceland

Smart card exports from Iceland stood at X units in 2018, therefore, remained relatively stable against the previous year. Over the period under review, smart card exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 with an increase of X% against the previous year. In that year, smart card exports reached their peak of X units. From 2012 to 2018, the growth of smart card exports remained at a lower figure.

In value terms, smart card exports totaled $X in 2018. In general, smart card exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. In that year, smart card exports reached their peak and are likely to continue its growth in the immediate term.

Exports by Country

Vietnam represented the major exporting country with an export of around X units, which accounted for X% of total exports. It was distantly followed by China (X units), comprising a X% share of total exports. The following exporters - Malaysia (X units) and Mexico (X units) - each finished at a X% share of total exports.

Vietnam was also the fastest-growing in terms of the cards incorporating an electronic integrated circuit (smart card) exports, with a CAGR of +X% from 2007 to 2018. At the same time, Mexico (+X%), Malaysia (+X%) and China (+X%) displayed positive paces of growth. From 2007 to 2018, the share of Vietnam, China, Malaysia and Mexico increased by +X%, +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest smart card supplier from Iceland, comprising X% of global exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of global exports. It was followed by Malaysia, with a X% share.

From 2007 to 2018, the average annual growth rate of value in China stood at +X%. In the other countries, the average annual rates were as follows: Mexico (+X% per year) and Malaysia (+X% per year).

Export Prices by Country

In 2018, the smart card export price in Iceland amounted to $X per unit, increasing by X% against the previous year. In general, the smart card export price continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2012 when the export price increased by X% against the previous year. Iceland export price peaked in 2018 and is expected to retain its growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Mexico ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced a decline in the export price figures.

Smart Card Imports

Imports into Iceland

In 2018, the smart card imports into Iceland totaled X units, picking up by X% against the previous year. In general, smart card imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. Over the period under review, smart card imports attained their maximum at X units in 2016; however, from 2017 to 2018, imports failed to regain their momentum.

In value terms, smart card imports totaled $X in 2018. Over the period under review, smart card imports continue to indicate a deep drop. The pace of growth appeared the most rapid in 2014 with an increase of X% year-to-year. Over the period under review, smart card imports reached their peak figure at $X in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

Imports by Country

The U.S. (X units) and China (X units) represented roughly X% of total imports of cards incorporating an electronic integrated circuit (smart card) in 2018. India (X units) ranks next in terms of the total imports with a X% share, followed by Germany (X%) and Vietnam (X%). The Netherlands (X units), the UK (X units), France (X units), South Africa (X units), Indonesia (X units), China, Hong Kong SAR (X units) and Russia (X units) held a little share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Vietnam, while the other leaders experienced more modest paces of growth.

In value terms, the largest smart card importing markets into Iceland were the U.S. ($X), China ($X) and Germany ($X), together comprising X% of total imports. These countries were followed by China, Hong Kong SAR, France, the UK, India, Indonesia, the Netherlands, South Africa, Russia, Vietnam and Iceland, which together accounted for a further X recorded the highest rates of growth with regard to imports, in terms of the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The smart card import price in Iceland stood at $X per unit in 2018, reducing by -X% against the previous year. In general, the smart card import price continues to indicate a deep descent. The pace of growth appeared the most rapid in 2017 an increase of X% year-to-year. Over the period under review, the import prices for cards incorporating an electronic integrated circuit (smart card) attained their peak figure at $X per unit in 2008; however, from 2009 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was China, Hong Kong SAR ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, Hong Kong SAR, while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform