Southern Asia: Smart Card Market 2025

Smart Card Market Size in Southern Asia

The South Asian smart card market totaled $X in 2022, picking up by 3.8% against the previous year. Overall, consumption saw a strong expansion. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Smart Card Production in Southern Asia

In value terms, smart card production reduced to $X in 2022 estimated in export price. Overall, production posted resilient growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 53%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Smart Card Exports

Exports in Southern Asia

In 2022, overseas shipments of cards incorporating an electronic integrated circuit (smart card) increased by 44% to X units, rising for the second year in a row after four years of decline. Over the period under review, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of 51% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, smart card exports soared to $X in 2022. In general, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 171%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The shipments of the one major exporters of cards incorporating an electronic integrated circuit (smart card), namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the cards incorporating an electronic integrated circuit (smart card) exports, with a CAGR of +7.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest smart card supplier in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +5.5%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, dropping by -8.6% against the previous year. Overall, the export price saw a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the export price increased by 79% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -2.1% per year.

Smart Card Imports

Imports in Southern Asia

In 2022, the amount of cards incorporating an electronic integrated circuit (smart card) imported in Southern Asia soared to X units, with an increase of 22% on the previous year. Overall, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 111%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, smart card imports expanded remarkably to $X in 2022. Over the period under review, imports continue to indicate a tangible increase. The growth pace was the most rapid in 2021 with an increase of 156%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

Bangladesh represented the major importing country with an import of around X units, which accounted for 70% of total imports. India (X units) held the second position in the ranking, distantly followed by Pakistan (X units). All these countries together held near 28% share of total imports. Sri Lanka (X units) held a minor share of total imports.

Bangladesh was also the fastest-growing in terms of the cards incorporating an electronic integrated circuit (smart card) imports, with a CAGR of +70.0% from 2012 to 2022. At the same time, Pakistan (+6.5%) and Sri Lanka (+4.4%) displayed positive paces of growth. By contrast, India (-8.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bangladesh increased by +69 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported cards incorporating an electronic integrated circuit (smart card) in Southern Asia, comprising 67% of total imports. The second position in the ranking was taken by Bangladesh ($X), with an 18% share of total imports. It was followed by Pakistan, with a 9.7% share.

In India, smart card imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+47.8% per year) and Pakistan (+2.5% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, reducing by -7.4% against the previous year. In general, the import price showed a pronounced slump. The pace of growth appeared the most rapid in 2013 when the import price increased by 49%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices failed to regain momentum.

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 India ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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