Fixed Voice Market: Trends, Challenges, and Future Opportunities for 2022-2028
The global fixed voice market size is expected to reach USD 121.2 billion by 2028, registering a CAGR of -2.3 % from 2022 to 2028, according to a new report by Grand View Research, Inc. Fixed voice service revenue is predicted to decline in the next few years as a result of lower circuit-switched subscriptions among companies and consumers, as well as a drop in fixed voice ARPU. Due to a strong preference for mobile and OTT-based network communication services, fixed voice services revenues will be pulled down over the forecast timeline. Consumers and companies have shifted heavily towards mobile voice and internet voice communication platforms in recent years. As a result, the overall revenue streams for the worldwide fixed voice services industry have decreased. With the widespread use of 5G technology, an increase in the number of internet-connected mobile smartphones, and consumer interest in next-generation technologies, there has been a signifi...