Voice over Internet Protocol (VOIP) service revenue in North America is expected to grow to $23.4 billion by the year 2009, up from $1.24 billion last year.
According to Infonetics Research`s latest VOIP services report, more than $62 billion will be spent on VOIP services in the region over the five-year forecast period.
"VOIP subscriber growth is skyrocketing right along with revenue growth: we`re forecasting triple-digit growth from 2005 to 2006, with six million new subscribers a year every year from 2006 to 2008, when there will be over 24 million," says Kevin Mitchell, principal analyst of Infonetics Research and author of the report.
"Vonage leads the residential and SOHO VOIP subscriber market, but its share is the lowest it`s been in nine months due to cable companies making gains," Mitchell says.
"Cablevision and Time Warner Cable each have double-digit share and combined have over 40% of all North American residential VOIP subscribers."
The report says the US makes up 93% of the North American VOIP services market in 2004, with Canada making up only 7%. However, Canada will make up a greater portion of North American VOIP services revenue by 2009, especially in the residential market.
Share
