Report Singapore - Cards Incorporating An Electronic Integrated Circuit (Smart Card) - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Singapore - Cards Incorporating An Electronic Integrated Circuit (Smart Card) - Market Analysis, Forecast, Size, Trends and Insights

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Singapore: Smart Card Market 2024

Smart Card Market Size in Singapore

For the third consecutive year, the Singaporean smart card market recorded growth in sales value, which increased by 65% to $X in 2022. Over the period under review, consumption continues to indicate notable growth. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the near future.

Smart Card Production in Singapore

In value terms, smart card production declined modestly to $X in 2022 estimated in export price. In general, production saw a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 28%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Smart Card Exports

Exports from Singapore

In 2022, overseas shipments of cards incorporating an electronic integrated circuit (smart card) were finally on the rise to reach X units after nine years of decline. In general, exports, however, recorded a abrupt decrease. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, smart card exports expanded significantly to $X in 2022. Over the period under review, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by 22% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X units), the United States (X units) and Indonesia (X units) were the main destinations of smart card exports from Singapore, together comprising 45% of total exports. Bangladesh, Cambodia, Malaysia, China, France, Pakistan, Vietnam, Italy, Germany and the UK lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +98.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for cards incorporating an electronic integrated circuit (smart card) exports from Singapore, comprising 22% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 9.7% share of total exports. It was followed by Indonesia, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-13.1% per year) and Indonesia (-5.8% per year).

Export Prices by Country

The average smart card export price stood at $X per unit in 2022, rising by 2% against the previous year. In general, the export price, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 41%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Smart Card Imports

Imports into Singapore

In 2022, purchases abroad of cards incorporating an electronic integrated circuit (smart card) increased by 55% to X units, rising for the second year in a row after two years of decline. In general, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2013 with an increase of 233%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, smart card imports skyrocketed to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 130%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of smart card to Singapore, accounting for a 72% share of total imports. Moreover, smart card imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), fourfold. South Korea (X units) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +24.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+35.9% per year) and South Korea (+63.6% per year).

In value terms, the largest smart card suppliers to Singapore were China ($X), Malaysia ($X) and Thailand ($X), with a combined 73% share of total imports.

Malaysia, with a CAGR of +30.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average smart card import price stood at $X per unit in 2022, waning by -7.9% against the previous year. In general, the import price saw a deep reduction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 21% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for China ($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 (-4.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

South Africa remains the largest smart card consuming country worldwide, accounting for 93% of total volume.
The country with the largest volume of smart card production was South Africa, accounting for 93% of total volume. It was followed by China, with a 2.5% share of total production.
In value terms, China constituted the largest supplier of smart card to Singapore, comprising 46% of total imports. The second position in the ranking was occupied by Malaysia, with a 13% share of total imports.
In value terms, Malaysia, the United States and India constituted the largest markets for smart card exported from Singapore worldwide, together accounting for 28% of total exports. The UK, Vietnam, Cambodia, Indonesia, China, Hong Kong SAR, Turkey, Myanmar, Brazil and Mexico lagged somewhat behind, together accounting for a further 19%.
In 2021, the average smart card export price amounted to $0.3 per unit, waning by -20.1% against the previous year.
The average smart card import price stood at $0.2 per unit in 2021, with a decrease of -6.8% against the previous year.

This report provides an in-depth analysis of the smart card market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 26123000 - Smart cards

Country coverage:

  • Singapore

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Singapore
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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