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Already on a tear, VoIP service is predicted to grow 18-fold -- from $1.24 billion in 2004 to $23.4 billion in 2009 -- representing total revenues of $62 billion to be spent on the technology over the five-year period, according to a report released Wednesday.
The figures were contained in a report from Infonetics that also predicted 24 million subscribers will be using VoIP service in 2008.
In an interview, Kevin Mitchell, Infonetics principal analyst, Service Provider Next Gen Voice & Mobile Core, noted that Vonage leads the residential and SoHO VoIP subscriber market with 32 percent market share.
The report marks movement among the top three providers. Vonage, the leader, with more than one million subscribers, has seen its market share drop to 32 percent from 36 percent in the first quarter of 2005. Cablevision dropped to 19 percent market share from 21 percent. Time Warner Cable, on the other hand, has been gaining, from 21 percent in the first quarter to 25 percent in the current report.
“Time Warner was playing around with VoIP for sometime,” Mitchell said. “At the end of last year they brought it out for full availability in all Time Warner markets in their footprint. Time Warner has tens of millions of cable subscribers.”
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