From 2013 to 2023, the number of cards with a cash function in Sweden grew from 12.6 million to 18.44 million units, reflecting a moderate but fluctuating growth pattern. The values experienced a significant rise between 2014 and 2016, peaking in 2021 at 18.69 million units, followed by slight declines, stabilized growth, and a modest increase thereafter. Year-on-year variations highlight volatile growth, with notable dips in 2017 and 2020, contrasted by recoveries in 2021 and 2023. From 2019 to 2023, the CAGR stood at a modest 1.83%, indicating stability post-recessionary adjustments in 2020.
Moving forward, the forecast for 2024 to 2028 indicates a stable upward trend, with the number of cards expected to reach 20.14 million units by 2028, reflecting an average annual growth rate (CAGR) of 1.34%. Over the next five years, this growth pattern is forecasted to be steady, suggesting a continuation of the moderate but stable increase in the adoption of cards with cash functions.
Future Trends to Watch:
- Continued digital transformation and its impact on cash function cards
- Emerging fintech innovations and alternative payment methods
- Regulatory changes in financial services and their influence on card usage
- Consumer behavior shifts towards contactless and mobile payments
- Economic factors affecting disposable income and spending patterns
