The South Korean VoIP calls market has shown a continuous decline in Unit Minutes from 2013 to 2023, dropping from 164 in 2013 to 70 in 2023. The year-on-year decline rates increased over time, with the most significant yearly decrease of 11.39% observed in 2023. The five-year CAGR from 2018 to 2023 was -9.61%, indicating a steady decline.
Forecasts from 2024 to 2028 project further decline, with the five-year CAGR expected to average -16.74%, highlighting an accelerated reduction in VoIP call usage. By 2028, the Unit Minutes is forecasted to drop to 24, marking a 60% decrease from 2024.
Future trends to watch for:
- Increased competition from alternative communication platforms
- Growing adoption of emergent communication technologies
- Potential regulatory changes impacting VoIP services
- Shifts in consumer behavior towards newer communication solutions
