Smart Card Market Overview in Greece
Market Overview
In 2019, the Greek smart card market decreased by -
% to $, falling for the fifth consecutive year after three years of growth. Overall, consumption, however, continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2013 with an increase of % year-to-year. Smart card consumption peaked at $ in 2009; however, from 2010 to 2019, consumption remained at a lower figure.
In value terms, smart card production stood at $ in 2019 estimated in export prices. Over the period under review, production continues to indicate a strong increase. The growth pace was the most rapid in 2013 when the production volume increased by % against the previous year. Over the period under review, production hit record highs in 2019 and is likely to continue growth in the immediate term.
% to $, falling for the fifth consecutive year after three years of growth. Overall, consumption, however, continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2013 with an increase of % year-to-year. Smart card consumption peaked at $ in 2009; however, from 2010 to 2019, consumption remained at a lower figure.In value terms, smart card production stood at $
in 2019 estimated in export prices. Over the period under review, production continues to indicate a strong increase. The growth pace was the most rapid in 2013 when the production volume increased by % against the previous year. Over the period under review, production hit record highs in 2019 and is likely to continue growth in the immediate term.Consumption
In 2019, smart card consumption in Greece shrank slightly to units, dropping by -% compared with 2018 figures. Overall, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the consumption volume increased by % year-to-year. As a result, consumption reached the peak volume of units. From 2018 to 2019, the growth of the consumption remained at a lower figure.
The size of the smart card market in Greece dropped to $ in 2019, which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2013 when the market value increased by % y-o-y. Smart card consumption peaked at $ in 2009; however, from 2010 to 2019, consumption stood at a somewhat lower figure.
units, dropping by -% compared with 2018 figures. Overall, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the consumption volume increased by % year-to-year. As a result, consumption reached the peak volume of units. From 2018 to 2019, the growth of the consumption remained at a lower figure.The size of the smart card market in Greece dropped to $
in 2019, which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2013 when the market value increased by % y-o-y. Smart card consumption peaked at $ in 2009; however, from 2010 to 2019, consumption stood at a somewhat lower figure.Market Forecast
Driven by increasing demand for smart card in Greece, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to units by the end of .
% for the period from 2019 to , which is projected to bring the market volume to units by the end of .Market Structure
Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in 2019. Greece domestic supply is expected to continue its growth.
% in 2007 to % in 2019. Greece domestic supply is expected to continue its growth.Trade Balance
Greece remains a net importer of smart card; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $-. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
units, which was equal to $-. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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