Scandinavia: Smart Card Market 2025

Smart Card Market Size in Scandinavia

The Scandinavia smart card market expanded remarkably to $X in 2022, with an increase of 11% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Smart Card Production in Scandinavia

In value terms, smart card production soared to $X in 2022 estimated in export price. Overall, production, however, saw a mild shrinkage. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Smart Card Exports

Exports in Scandinavia

In 2022, the amount of cards incorporating an electronic integrated circuit (smart card) exported in Scandinavia soared to X units, jumping by 52% against 2021 figures. Over the period under review, exports posted a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 65% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, smart card exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a noticeable decline. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden was the main exporting country with an export of about X units, which reached 58% of total exports. It was distantly followed by Finland (X units), creating a 39% share of total exports. Norway (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Sweden (with a CAGR of +15.1%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Finland ($X), Sweden ($X) and Norway ($X) appeared to be the countries with the highest levels of exports in 2022.

Sweden, with a CAGR of +4.6%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2022, dropping by -4.4% against the previous year. Overall, the export price showed a abrupt setback. The pace of growth appeared the most rapid in 2014 when the export price increased by 7.8% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Norway ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (-1.2%), while the other leaders experienced a decline in the export price figures.

Smart Card Imports

Imports in Scandinavia

In 2022, purchases abroad of cards incorporating an electronic integrated circuit (smart card) was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 20%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, smart card imports soared to $X in 2022. In general, imports, however, continue to indicate a abrupt downturn. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Sweden (X units) and Finland (X units) were the largest importers of cards incorporating an electronic integrated circuit (smart card) in Scandinavia, together making up 82% of total imports. It was distantly followed by Norway (X units), mixing up an 18% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Sweden (with a CAGR of +8.3%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Sweden ($X), Finland ($X) and Norway ($X) were the countries with the highest levels of imports in 2022.

Sweden, with a CAGR of -0.1%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, surging by 6.5% against the previous year. Overall, the import price, however, showed a deep setback. The pace of growth was the most pronounced in 2021 when the import price increased by 15% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (-5.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform