Based on the forecast data, the number of cards with a payment function per inhabitant in the UK shows a steady increase from 2.75 in 2024 to 2.8 by 2028. This indicates a gradual growth trend post-2023, where the value stood at 2.74. The year-on-year growth between 2024 and 2025 is 0.36%, and between 2025 and 2026 is 0.72%. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is approximately 0.45%.
Future trends to watch for:
- Emergence of digital wallets offering competition to physical cards
- Increasing consumer preference for contactless payments
- Regulatory changes impacting card issuance and usage
- Technological advancements enhancing card functions
