The analysis of the number of cards with a debit function in Turkey shows a general upward trend from 2013 to 2023, with some fluctuations. The number of cards in 2023 stood at approximately 128.28 million units, showcasing a minor increase of 1.65% compared to 2022. The Compound Annual Growth Rate (CAGR) over the past five years (2018-2023) stands at 1.26%, indicating a steady yet moderate growth pattern.
Key variations include:
- Significant growth of 11.41% in 2017.
- A sharp decline of 15.46% in 2020, possibly linked to the COVID-19 pandemic.
- Rebound with a 28.76% increase in 2021.
- A minor decrease of 3.13% in 2022, followed by a stabilization in 2023.
Future trends to watch for:
- Projected steady growth with a CAGR of 1.27% from 2024 to 2028.
- Continued increase in the adoption of electronic payment methods and financial inclusion.
- Potential market shifts due to technological advancements and regulatory changes.