The value of card payments in Sweden has experienced fluctuations over the years. Between 2013 and 2014, the value increased by 10.27% and 3.42% respectively. However, 2015 saw a significant drop of 23.96% followed by a slight recovery in 2016 with a 7.85% increase. From 2017 to 2019, the growth remained minimal, with year-on-year variations around 1.54%, 0.63%, and 0.62% respectively. The year 2020 marked a sharp decline of 16.5%, but the market bounced back in 2021 with a 27.24% increase in card payments. In 2022, the value dropped again by 4.22%, followed by a marginal increase of 0.55% in 2023.
As of 2023, the card payments in Sweden stood at 123.26 Billion US Dollars. The Compound Annual Growth Rate (CAGR) over the last five years was 0.58%. Looking forward, from 2024 onwards, the card payment market is expected to grow at a modest pace, with a forecasted 5-year CAGR of 0.43%. By 2028, the value is anticipated to reach 127.16 Billion US Dollars, indicating a growth of 2.19% over five years.
Future trends to watch for include the potential impact of digital payment technologies, changes in consumer behavior, regulatory developments, and economic conditions that could further influence the card payment market dynamics in Sweden.
