Telecom revenues for voice services in Western Europe to decline 3% a year

IDC estimates that European fixed-voice market will decline from $108 bln in 2003 to $95 bln by 2008, which represents a compound annual growth rate (CAGR) of -3%. This means a loss of $13 bln over the next five years ? a massive amount of revenue that will disappear over a relatively short period of time. This is due to a decline in connections and traffic revenue resulting from mobile substitution, dial-up broadband migration which offers unlimited use for a flat-rate monthly subscription, and increasing competition from both traditional voice carriers and those offering voice over IP (VoIP).