In 2023, VoIP connections in the US stood at 21 units. Between 2013 and 2023, the market has shown consistent growth with minor fluctuations, reaching its highest historical value in 2021 at 21 units. The most notable growth occurred from 2019 to 2021, with a peak year-on-year increase of 5.26% in 2021. However, a slight dip followed in 2022 with a decrease of 4.76%. The year 2023 saw a recovery with a 5% increase. Over the last five years, the Compound Annual Growth Rate (CAGR) has been around 3.13%.
For the future, forecasted data suggests a steady but slower growth trend with a CAGR of 1.73% from 2024 to 2028. By 2028, the market is expected to grow by 8.98% from 2023 levels, reaching approximately 23.43 units.
Future trends to watch include:
- Technological advancements in VoIP systems enhancing user experience and reliability.
- Increased adoption of cloud-based VoIP solutions among businesses.
- Potential impacts of regulatory changes on VoIP service providers.
- Integration of VoIP with emerging communication technologies like 5G and IoT.