Sweden: Smart Card Market 2024

Smart Card Market Size in Sweden

The Swedish smart card market reached $X in 2022, surging by 6.9% against the previous year. Overall, consumption, however, posted a temperate expansion. Smart card consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Smart Card Production in Sweden

In value terms, smart card production surged to $X in 2022 estimated in export price. In general, production enjoyed a strong increase. Smart card production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Smart Card Exports

Exports from Sweden

In 2022, the amount of cards incorporating an electronic integrated circuit (smart card) exported from Sweden soared to X units, jumping by 54% on the year before. Over the period under review, exports recorded prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by 93%. As a result, the exports reached 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 rose markedly to $X in 2022. In general, exports enjoyed pronounced growth. The most prominent rate of growth was recorded in 2020 with an increase of 99% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for smart card exports from Sweden, with a 85% share of total exports. Moreover, smart card exports to Germany exceeded the volume sent to the second major destination, Norway (X units), more than tenfold. Denmark (X units) ranked third in terms of total exports with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +45.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-4.5% per year) and Denmark (-5.3% per year).

In value terms, the largest markets for smart card exported from Sweden were Germany ($X), China ($X) and Denmark ($X), with a combined 58% share of total exports.

Among the main countries of destination, China, with a CAGR of +35.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average smart card export price stood at $X per unit in 2022, reducing by -26.7% against the previous year. Overall, the export price showed a abrupt decline. The pace of growth was the most pronounced in 2021 an increase of 11% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Germany ($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 the UK (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Smart Card Imports

Imports into Sweden

After two years of decline, overseas purchases of cards incorporating an electronic integrated circuit (smart card) increased by 3.8% to X units in 2022. In general, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2014 when imports increased by 30% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, smart card imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 30% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest smart card supplier to Sweden, with a 44% share of total imports. Moreover, smart card imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), threefold. France (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.9% per year) and France (+9.5% per year).

In value terms, the largest smart card suppliers to Sweden were China ($X), Germany ($X) and Finland ($X), together accounting for 47% of total imports. France, Poland, Norway, Belgium, Denmark, Austria and Italy lagged somewhat behind, together comprising a further 33%.

In terms of the main suppliers, Italy, with a CAGR of +56.3%, saw the highest rates of growth with regard to 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

The average smart card import price stood at $X per unit in 2022, rising by 12% against the previous year. In general, the import price, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2021 when the average import price increased by 26%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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