The number of business local telephone lines in Canada has shown a steady decline from 5.68 million units in 2013 to 4.88 million units in 2023, a decrease of approximately 0.93% from 2022. The overall trend from 2013 to 2023 is characterized by consistent reductions, except for a slight temporary increase in 2020. The compound annual growth rate (CAGR) over the last five years was approximately -0.96%.
The forecast from 2024 to 2028 shows a continuation of this decline, with a five-year CAGR projected at -0.77%, indicating a maintained downward trend. By 2028, the number is expected to fall to around 4.67 million units.
- Future trends to watch for include the potential impact of technological advancements, such as VoIP and mobile solutions, which may further decrease the need for traditional business telephone lines.
- Market adaptations and regulatory changes could also influence how telecommunication companies strategize to address declining demand.
