Forecast: Value of Card Payments in the US

Analyzing the value of card payments in the US over the past decade shows a consistent growth trend, except for a significant dip in 2020. In 2023, the value stood at $7.01 trillion, reflecting a modest Year-on-Year (YoY) growth of 2.37% from 2022. The Compound Annual Growth Rate (CAGR) has seen fluctuations, with a five-year CAGR of 2.6% up to 2023. The forecasts predict steady growth with a 1.78% CAGR expected between 2023 and 2028, projected to reach $7.88 trillion by 2028. This indicates an overall growth rate of 9.22% over the next five years.

Future trends to watch for include technological advancements in payment systems, shifts in consumer behavior towards cashless transactions, and regulatory changes which may impact the card payment ecosystem. Additionally, economic fluctuations and emerging payment alternatives could also influence these trends.