Forecast: Household Expenditure on Telecom in Canada

Household expenditure on telecom in Canada stood at 37.89 billion Canadian Dollars in 2023. Over the last two years, this represented a year-on-year increase of 4.8% in 2022 and 3.76% in 2023. The average annual growth rate (CAGR) over the last five years (2019-2023) was 3.73%, showing a moderate but consistent upward trend.

Looking ahead, the forecasted expenditure for 2028 is anticipated to be 44.56 billion Canadian Dollars, reflecting a 13.53% growth over five years, with an average annual growth rate (forecast 5-year CAGR) of 2.57%.

Future trends to watch for:

• Increased adoption of 5G technologies and IoT devices contributing to higher household telecom expenditure.
• Emergence of new telecom services and bundled offerings aimed at improving customer retention and ARPU (Average Revenue Per User).
• Potential regulatory changes affecting telecom pricing and market competition.