South-Eastern Asia: Smart Card Market 2024

Smart Card Market Size in South-Eastern Asia

The Southeast Asian smart card market fell to $X in 2022, remaining stable against the previous year. In general, consumption saw a buoyant increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Smart Card Production in South-Eastern Asia

In value terms, smart card production expanded slightly to $X in 2022 estimated in export price. In general, production recorded a strong increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 21% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Smart Card Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of cards incorporating an electronic integrated circuit (smart card) increased by 3.8% to X units, rising for the second year in a row after three years of decline. Overall, exports, however, saw a abrupt downturn. The growth pace was the most rapid in 2021 when exports increased by 17%. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, smart card exports expanded rapidly to $X in 2022. Over the period under review, exports, however, saw a deep downturn. The growth pace was the most rapid in 2013 with an increase of 11%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X units) and Malaysia (X units) were the major exporters of cards incorporating an electronic integrated circuit (smart card) in 2022, resulting at approx. 43% and 31% of total exports, respectively. It was distantly followed by Thailand (X units), constituting a 19% share of total exports. Vietnam (X units) and the Philippines (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 main exporting countries, was attained by Vietnam (with a CAGR of +32.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Malaysia ($X), Singapore ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 85% of total exports. Vietnam and the Philippines lagged somewhat behind, together comprising a further 8.4%.

Vietnam, with a CAGR of +28.8%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, surging by 2.8% against the previous year. Over the period under review, the export price, however, recorded a slight slump. The most prominent rate of growth was recorded in 2018 when the export price increased by 35% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Thailand ($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 (+2.6%), while the other leaders experienced a decline in the export price figures.

Smart Card Imports

Imports in South-Eastern Asia

Smart card imports amounted to X units in 2022, standing approx. at 2021. In general, imports enjoyed significant growth. The pace of growth was the most pronounced in 2018 with an increase of 101% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, smart card imports skyrocketed to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.4% against 2020 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 52% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Vietnam represented the key importer of cards incorporating an electronic integrated circuit (smart card) in South-Eastern Asia, with the volume of imports reaching X units, which was approx. 72% of total imports in 2022. It was distantly followed by Singapore (X units), making up a 19% share of total imports. Malaysia (X units), Indonesia (X units) and the Philippines (X units) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the cards incorporating an electronic integrated circuit (smart card) imports, with a CAGR of +36.7% from 2012 to 2022. At the same time, Singapore (+21.7%), the Philippines (+11.5%), Malaysia (+10.5%) and Indonesia (+4.4%) displayed positive paces of growth. Vietnam (+39 p.p.) and the Philippines (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Malaysia and Indonesia saw its share reduced by -9.2%, -10.7% and -13.4% from 2012 to 2022, respectively.

In value terms, Singapore ($X), Vietnam ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2022, together accounting for 67% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +7.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, picking up by 14% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt contraction. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while Vietnam (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 Indonesia (-3.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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