India: Smart Card Market 2024

Smart Card Market Size in India

In 2022, the Indian smart card market decreased by X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption continues to indicate a perceptible slump. The growth pace was the most rapid in 2019 when the market value increased by X%. Smart card consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Smart Card Production in India

In value terms, smart card production shrank slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Smart card production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Smart Card Exports

Exports from India

In 2022, shipments abroad of cards incorporating an electronic integrated circuit (smart card) increased by X% to X units, rising for the second year in a row after four years of decline. Overall, exports recorded a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, smart card exports skyrocketed to $X in 2022. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

France (X units), Malaysia (X units) and South Africa (X units) were the main destinations of smart card exports from India, together comprising X% of total exports. Belgium, the United States, Egypt, Germany, Romania, Jordan, Democratic Republic of the Congo, Turkey, Saudi Arabia and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

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

In value terms, France ($X), Malaysia ($X) and Belgium ($X) were the largest markets for smart card exported from India worldwide, with a combined X% share of total exports. Germany, the United States, South Africa, the United Arab Emirates, Egypt, Saudi Arabia, Turkey, Democratic Republic of the Congo, Romania and Jordan lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

In 2022, the average smart card export price amounted to $X per unit, declining by X% against the previous year. In general, the export price saw a pronounced descent. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Jordan ($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 Malaysia (X%), while the prices for the other major destinations experienced a decline.

Smart Card Imports

Imports into India

In 2022, the amount of cards incorporating an electronic integrated circuit (smart card) imported into India amounted to X units, picking up by X% on the previous year. In general, imports, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, smart card imports soared to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Taiwan (Chinese) (X units) constituted the largest smart card supplier to India, accounting for a X% share of total imports. Moreover, smart card imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Malaysia (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Taiwan (Chinese) stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Malaysia (X% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of cards incorporating an electronic integrated circuit (smart card) to India, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Taiwan (Chinese) totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average smart card import price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the import price recorded a strong increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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

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

Source: IndexBox Platform

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