Over the past decade, the number of debit cards in Sweden has demonstrated considerable fluctuations. From 2013 to 2023, there were notable peaks in 2014 and 2018, followed by significant downturns in 2015, 2020, and minor downward trends in other years. As of 2023, the number of debit cards stood at 10.87 million units, reflecting a minor increase of 0.16% from 2022. A compound annual growth rate (CAGR) of -0.37% was observed between 2019 and 2023, indicating a slight overall decline.
Future trends suggest a stabilizing market with moderate growth. The forecasted period from 2024 to 2028 shows incremental increases year-on-year, projecting a CAGR of 0.12% and a total growth rate of 0.6% over five years. Factors such as increased digital transactions, fintech innovation, and consumer behavior shifts will be critical moving forward.
Trends to watch for include:
- Adoption of new payment technologies and digital wallets
- Regulatory changes impacting debit card usage
- Shifts in consumer payment preferences
- Economic conditions affecting consumer spending and banking behavior