Verizon Wireless has shown fluctuating service revenue in the US over the past decade. Service revenue stood at $78.49 billion USD in 2023. Key observations include a peak in 2021 at $79.62 billion, followed by a dip in 2022, then a slight recovery in 2023. Year-on-year variations reveal periods of notable growth, particularly in 2020 (7.02%), contrasting with declines such as in 2016 (-5.42%). The compound annual growth rate (CAGR) from 2019-2023 averaged at 1.85%.
Looking forward, the forecast indicates steady growth with a projected CAGR of 1.16% over the next five years, reaching $84.86 billion by 2028, implying a 5.94% growth from 2024. Such trends suggest a moderate upward trajectory for Verizon's service revenue in the near term.
Future trends to watch for include the impact of 5G adoption, potential market saturation, and competitive pressures which could influence Verizon’s ability to maintain or exceed forecasted growth rates.
