Mobile voice subscriptions in the US in 2023 stood at 364.17 million units, reflecting a 1.07% increase from the previous year. Over the last two years, the year-on-year variations were -3.71% in 2022 and 1.14% in 2021. Analyzing the last five years, the compound annual growth rate (CAGR) was approximately 1.14% from 2018 to 2023. Looking forward, the forecasted CAGR for 2024-2028 is around 0.72%, indicating a gradual but steady growth rate of 3.68% over this period.
Future trends to watch for include:
- Technological advancements in mobile voice services including 5G adoption.
- Shifts in consumer preferences towards data-centric communication services.
- Regulatory changes impacting mobile network operations and competition.
- Potential market saturation affecting growth in subscriber numbers.
- Impact of economic fluctuations on consumer spending behavior and subscription models.