Northern America: Smart Card Market 2024

Smart Card Market Size in Northern America

The North American smart card market expanded modestly to $X in 2022, rising by 2.7% against the previous year. In general, consumption recorded a strong expansion. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Smart Card Production in Northern America

In value terms, smart card production expanded modestly to $X in 2022 estimated in export price. The total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.6% against 2020 indices. The growth pace was the most rapid in 2019 when the production volume increased by 20%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Smart Card Exports

Exports in Northern America

In 2022, shipments abroad of cards incorporating an electronic integrated circuit (smart card) was finally on the rise to reach X units for the first time since 2015, thus ending a six-year declining trend. In general, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, smart card exports surged to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United States was the key exporter of cards incorporating an electronic integrated circuit (smart card) in Northern America, with the volume of exports finishing at X units, which was near 81% of total exports in 2022. It was distantly followed by Canada (X units), making up a 19% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to smart card exports from the United States stood at -2.5%. At the same time, Canada (+40.2%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +40.2% from 2012-2022. While the share of Canada (+19 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (-18.6 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest smart card supplier in Northern America, comprising 91% of total exports. The second position in the ranking was taken by Canada ($X), with a 9.5% share of total exports.

In the United States, smart card exports plunged by an average annual rate of -1.3% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per unit in 2022, rising by 6.7% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 17% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per unit), while Canada stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.2%).

Smart Card Imports

Imports in Northern America

In 2022, purchases abroad of cards incorporating an electronic integrated circuit (smart card) increased by 37% to X units, rising for the fifth consecutive year after two years of decline. Over the period under review, imports recorded a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, smart card imports soared to $X in 2022. In general, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 56%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

The United States prevails in imports structure, finishing at X units, which was near 97% of total imports in 2022. Canada (X units) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the cards incorporating an electronic integrated circuit (smart card) imports, with a CAGR of +14.1% from 2012 to 2022. At the same time, Canada (+4.2%) displayed positive paces of growth. While the share of the United States (+3.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Canada (-3.8 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported cards incorporating an electronic integrated circuit (smart card) in Northern America, comprising 89% of total imports. The second position in the ranking was taken by Canada ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +10.7%.

Import Prices by Country

The import price in Northern America stood at $X per unit in 2022, reducing by -9.2% against the previous year. Overall, the import price showed a perceptible reduction. The growth pace was the most rapid in 2017 when the import price increased by 28% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per unit), while the United States totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (-0.6%).

Source: IndexBox Platform

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