Global VoIP Market Growth (Status and Outlook) 2020-2025
According to this study, over the next five years the VoIP market will register a 3.2%% CAGR in terms of revenue, the global market size will reach $ 91670 million by 2025, from $ 80770 million in 2019. In particular, this report presents the global revenue market share of key companies in VoIP business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of VoIP market by product type, application, key manufacturers and key regions and countries.
This study specially analyses the impact of Covid-19 outbreak on the VoIP, covering the supply chain analysis, impact assessment to the VoIP market size growth rate in several scenarios, and the measures to be undertaken by VoIP companies in response to the COVID-19 epidemic.
Segmentation by type: breakdown data from 2015 to 2020 in Section 2.3; and forecast to 2025 in section 10.7.
Hosted PBX Equipment
IP PBX Equipment
Segmentation by application: breakdown data from 2015 to 2020, in Section 2.4; and forecast to 2025 in section 10.8.
Residential Use
Enterprise Use
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
NTT
Vonage
Comcast
KT
Charter
Orange
Verizon
Microsoft (Skype)
AT & T
Cablevision
Sprint
KDDI
Liberty Global
Cox
Numericable-SFR
Time Warner Cable
Shaw Communications
Rogers
Telmex
TalkTalk
Ring Central
MITEL
8x8
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global VoIP market size by key regions/countries, type and application, history data from 2015 to 2019, and forecast to 2025.
To understand the structure of VoIP market by identifying its various subsegments.
Focuses on the key global VoIP players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the VoIP with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of VoIP submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
1 Scope of the Report
1.1 Market Introduction
1.2 Research Objectives
1.3 Years Considered
1.4 Market Research Methodology
1.5 Economic Indicators
1.6 Currency Considered
2 Executive Summary
2.1 World Market Overview
2.1.1 Global VoIP Market Size 2015-2025
2.1.2 VoIP Market Size CAGR by Region
2.2 VoIP Segment by Type
2.2.1 Hosted PBX Equipment
2.2.2 Hosted PBX Equipment
2.3 VoIP Market Size by Type
2.3.1 Global VoIP Market Size Market Share by Type (2015-2020)
2.3.2 Global VoIP Market Size Growth Rate by Type (2015-2020)
2.4 VoIP Segment by Application
2.4.1 Residential Use
2.4.2 Enterprise Use
2.5 VoIP Market Size by Application
2.5.1 Global VoIP Market Size Market Share by Application (2015-2020)
2.5.2 Global VoIP Market Size Growth Rate by Application (2015-2020)
3 Global VoIP by Players
3.1 Global VoIP Market Size Market Share by Players
3.1.1 Global VoIP Market Size by Players (2018-2020)
3.1.2 Global VoIP Market Size Market Share by Players (2018-2020)
3.2 Global VoIP Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) (2018-2020)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 VoIP by Regions
4.1 VoIP Market Size by Regions
4.2 Americas VoIP Market Size Growth
4.3 APAC VoIP Market Size Growth
4.4 Europe VoIP Market Size Growth
4.5 Middle East & Africa VoIP Market Size Growth
5 Americas
5.1 Americas VoIP Market Size by Countries
5.2 Americas VoIP Market Size by Type
5.3 Americas VoIP Market Size by Application
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Key Economic Indicators of Few Americas Countries
6 APAC
6.1 APAC VoIP Market Size by Regions
6.2 APAC VoIP Market Size by Type
6.3 APAC VoIP Market Size by Application
6.4 China
6.5 Japan
6.6 Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 Key Economic Indicators of Few APAC Regions
7 Europe
7.1 Europe VoIP by Countries
7.2 Europe VoIP Market Size by Type
7.3 Europe VoIP Market Size by Application
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
7.9 Key Economic Indicators of Few Europe Countries
8 Middle East & Africa
8.1 Middle East & Africa VoIP by Countries
8.2 Middle East & Africa VoIP Market Size by Type
8.3 Middle East & Africa VoIP Market Size by Application
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers and Impact
9.1.1 Growing Demand from Key Regions
9.1.2 Growing Demand from Key Applications and Potential Industries
9.2 Market Challenges and Impact
9.3 Market Trends
10 Global VoIP Market Forecast
10.1 Global VoIP Market Size Forecast (2021-2025)
10.2 Global VoIP Forecast by Regions
10.2.1 Global VoIP Forecast by Regions (2021-2025)
10.2.2 Americas Market Forecast
10.2.3 APAC Market Forecast
10.2.4 Europe Market Forecast
10.2.5 Middle East & Africa Market Forecast
10.3 Americas Forecast by Countries
10.3.1 United States Market Forecast
10.3.2 Canada Market Forecast
10.3.3 Mexico Market Forecast
10.3.4 Brazil Market Forecast
10.4 APAC Forecast by Countries
10.4.1 China Market Forecast
10.4.2 Japan Market Forecast
10.4.3 Korea Market Forecast
10.4.4 Southeast Asia Market Forecast
10.4.5 India Market Forecast
10.4.6 Australia Market Forecast
10.5 Europe Forecast by Countries
10.5.1 Germany Market Forecast
10.5.2 France Market Forecast
10.5.3 UK Market Forecast
10.5.4 Italy Market Forecast
10.5.5 Russia Market Forecast
10.5.6 Spain Market Forecast
10.6 Middle East & Africa Forecast by Countries
10.6.1 Egypt Market Forecast
10.6.2 South Africa Market Forecast
10.6.3 Israel Market Forecast
10.6.4 Turkey Market Forecast
10.6.5 GCC Countries Market Forecast
10.7 Global VoIP Forecast by Type
10.8 Global VoIP Forecast by Application
11 Key Players Analysis
11.1 NTT
11.1.1 Company Details
11.1.2 VoIP Product Offered
11.1.3 NTT VoIP Revenue, Gross Margin and Market Share (2018-2020)
11.1.4 Main Business Overview
11.1.5 NTT News
11.2 Vonage
11.2.1 Company Details
11.2.2 VoIP Product Offered
11.2.3 Vonage VoIP Revenue, Gross Margin and Market Share (2018-2020)
11.2.4 Main Business Overview
11.2.5 Vonage News
11.3 Comcast
11.3.1 Company Details
11.3.2 VoIP Product Offered
11.3.3 Comcast VoIP Revenue, Gross Margin and Market Share (2018-2020)
11.3.4 Main Business Overview
11.3.5 Comcast News
11.4 KT
11.4.1 Company Details
11.4.2 VoIP Product Offered
11.4.3 KT VoIP Revenue, Gross Margin and Market Share (2018-2020)
11.4.4 Main Business Overview
11.4.5 KT News
11.5 Charter
11.5.1 Company Details
11.5.2 VoIP Product Offered
11.5.3 Charter VoIP Revenue, Gross Margin and Market Share (2018-2020)
11.5.4 Main Business Overview
11.5.5 Charter News
11.6 Orange
11.6.1 Company Details
11.6.2 VoIP Product Offered
11.6.3 Orange VoIP Revenue, Gross Margin and Market Share (2018-2020)
11.6.4 Main Business Overview
11.6.5 Orange News
11.7 Verizon
11.7.1 Company Details
11.7.2 VoIP Product Offered
11.7.3 Verizon VoIP Revenue, Gross Margin and Market Share (2018-2020)
11.7.4 Main Business Overview
11.7.5 Verizon News
11.8 Microsoft (Skype)
11.8.1 Company Details
11.8.2 VoIP Product Offered
11.8.3 Microsoft (Skype) VoIP Revenue, Gross Margin and Market Share (2018-2020)
11.8.4 Main Business Overview
11.8.5 Microsoft (Skype) News
11.9 AT & T
11.9.1 Company Details
11.9.2 VoIP Product Offered
11.9.3 AT & T VoIP Revenue, Gross Margin and Market Share (2018-2020)
11.9.4 Main Business Overview
11.9.5 AT & T News
11.10 Cablevision
11.10.1 Company Details
11.10.2 VoIP Product Offered
11.10.3 Cablevision VoIP Revenue, Gross Margin and Market Share (2018-2020)
11.10.4 Main Business Overview
11.10.5 Cablevision News
11.11 Sprint
11.12 KDDI
11.13 Liberty Global
11.14 Cox
11.15 Numericable-SFR
11.16 Time Warner Cable
11.17 Shaw Communications
11.18 Rogers
11.19 Telmex
11.20 TalkTalk
11.21 Ring Central
11.22 MITEL
11.23 8x8
12 Research Findings and Conclusion
Tables and Figures
List of Tables
Table 1. Research Methodology
Table 2. Data Source
Table 3. VoIP Market Size CAGR by Region 2015-2025 ($ Millions)
Table 4. Major Players of Hosted PBX Equipment
Table 5. Major Players of IP PBX Equipment
Table 6. VoIP Market Size by Type (2014-2019) ($ Millions)
Table 7. Global VoIP Market Size Market Share by Type (2015-2020)
Table 8. Global VoIP Market Size by Application (2015-2020) ($ Millions)
Table 9. Global VoIP Market Size Market Share by Application (2015-2020)
Table 10. Global VoIP Revenue by Players (2018-2020) ($ Millions)
Table 11. Global VoIP Revenue Market Share by Players (2018-2020)
Table 12. Global VoIP Key Players Head office and Products Offered
Table 13. VoIP Concentration Ratio (CR3, CR5 and CR10) (2018-2020)
Table 14. New Products and Potential Entrants
Table 15. Mergers & Acquisitions, Expansion
Table 16. Global VoIP Market Size by Regions 2015-2020 ($ Millions)
Table 17. Global VoIP Market Size Market Share by Regions 2015-2020
Table 18. Americas VoIP Market Size by Countries (2015-2020) ($ Millions)
Table 19. Americas VoIP Market Size Market Share by Countries (2015-2020)
Table 20. Americas VoIP Market Size by Type (2015-2020) ($ Millions)
Table 21. Americas VoIP Market Size Market Share by Type (2015-2020)
Table 22. Americas VoIP Market Size by Application (2015-2020) ($ Millions)
Table 23. Americas VoIP Market Size Market Share by Application (2015-2020)
Table 24. APAC VoIP Market Size by Regions (2015-2020) ($ Millions)
Table 25. APAC VoIP Market Size Market Share by Regions (2015-2020)
Table 26. APAC VoIP Market Size by Type (2015-2020) ($ Millions)
Table 27. APAC VoIP Market Size Market Share by Type (2015-2020)
Table 28. APAC VoIP Market Size by Application (2015-2020) ($ Millions)
Table 29. APAC VoIP Market Size Market Share by Application (2015-2020)
Table 30. Europe VoIP Market Size by Countries (2015-2020) ($ Millions)
Table 31. Europe VoIP Market Size Market Share by Countries (2015-2020)
Table 32. Europe VoIP Market Size by Type (2015-2020) ($ Millions)
Table 33. Europe VoIP Market Size Market Share by Type (2015-2020)
Table 34. Europe VoIP Market Size by Application (2015-2020) ($ Millions)
Table 35. Europe VoIP Market Size Market Share by Application (2015-2020)
Table 36. Middle East & Africa VoIP Market Size by Countries (2015-2020) ($ Millions)
Table 37. Middle East & Africa VoIP Market Size Market Share by Countries (2015-2020)
Table 38. Middle East & Africa VoIP Market Size by Type (2015-2020) ($ Millions)
Table 39. Middle East & Africa VoIP Market Size Market Share by Type (2015-2020)
Table 40. Middle East & Africa VoIP Market Size by Application (2015-2020) ($ Millions)
Table 41. Middle East & Africa VoIP Market Size Market Share by Application (2015-2020)
Table 42. Key and Potential Regions of VoIP
Table 43. Key Application and Potential Industries of VoIP
Table 44. Key Challenges of VoIP
Table 45. Key Trends of VoIP
Table 46. Global VoIP Market Size Forecast by Regions (2021-2025) ($ Millions)
Table 47. Global VoIP Market Size Market Share Forecast by Regions
Table 48. Global VoIP Market Size Forecast by Type (2021-2025) ($ Millions)
Table 49. Global VoIP Market Size Market Share Forecast by Type (2021-2025)
Table 50. Global VoIP Market Size Forecast by Application (2021-2025) ($ Millions)
Table 51. Global VoIP Market Size Market Share Forecast by Application (2021-2025)
Table 52. NTT Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 53. NTT VoIP Product Offered
Table 54. NTT VoIP Revenue and Gross Margin (2018-2020E)
Table 55. NTT Main Business
Table 56. NTT Latest Developments
Table 57. Vonage Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 58. Vonage VoIP Product Offered
Table 59. Vonage Main Business
Table 60. Vonage VoIP Revenue and Gross Margin (2018-2020E)
Table 61. Vonage Latest Developments
Table 62. Comcast Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 63. Comcast VoIP Product Offered
Table 64. Comcast Main Business
Table 65. Comcast VoIP Revenue and Gross Margin (2018-2020E)
Table 66. Comcast Latest Developments
Table 67. KT Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 68. KT VoIP Product Offered
Table 69. KT Main Business
Table 70. KT VoIP Revenue and Gross Margin (2018-2020E)
Table 71. KT Latest Developments
Table 72. Charter Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 73. Charter VoIP Product Offered
Table 74. Charter Main Business
Table 75. Charter VoIP Revenue and Gross Margin (2018-2020E)
Table 76. Charter Latest Developments
Table 77. Orange Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 78. Orange VoIP Product Offered
Table 79. Orange Main Business
Table 80. Orange VoIP Revenue and Gross Margin (2018-2020E)
Table 81. Orange Latest Developments
Table 82. Verizon Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 83. Verizon VoIP Product Offered
Table 84. Verizon Main Business
Table 85. Verizon VoIP Revenue and Gross Margin (2018-2020E)
Table 86. Verizon Latest Developments
Table 87. Microsoft (Skype) Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 88. Microsoft (Skype) VoIP Product Offered
Table 89. Microsoft (Skype) Main Business
Table 90. Microsoft (Skype) VoIP Revenue and Gross Margin (2018-2020E)
Table 91. Microsoft (Skype) Latest Developments
Table 92. AT & T Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 93. AT & T VoIP Product Offered
Table 94. AT & T Main Business
Table 95. AT & T VoIP Revenue and Gross Margin (2018-2020E)
Table 96. AT & T Latest Developments
Table 97. Cablevision Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 98. Cablevision VoIP Product Offered
Table 99. Cablevision Main Business
Table 100. Cablevision VoIP Revenue and Gross Margin (2018-2020E)
Table 101. Cablevision Latest Developments
Table 102. Sprint Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 103. KDDI Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 104. Liberty Global Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 105. Cox Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 106. Numericable-SFR Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 107. Time Warner Cable Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 108. Shaw Communications Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 109. Rogers Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 110. Telmex Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 111. TalkTalk Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 112. Ring Central Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 113. MITEL Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
Table 114. 8x8 Details, Company Total Revenue (in $ million), Head Office, VoIP Major Market Areas and Its Competitors
List of Figures
Figure 1. VoIP Report Years Considered
Figure 2. Market Research Methodology
Figure 3. Global VoIP Market Size Growth Rate 2015-2025 ($ Millions)
Figure 4. Global VoIP Market Size Market Share by Type (2015-2020)
Figure 5. Global Hosted PBX Equipment Market Size Growth Rate
Figure 6. Global IP PBX Equipment Market Size Growth Rate
Figure 7. VoIP in Residential Use
Figure 8. Global VoIP Market: Residential Use (2015-2020) ($ Millions)
Figure 9. VoIP in Enterprise Use
Figure 10. Global VoIP Market: Enterprise Use (2015-2020) ($ Millions)
Figure 11. Global VoIP Market Size Market Share by Application in 2019
Figure 12. Global VoIP Market Size Market Share by Regions 2015-2020
Figure 13. Americas VoIP Market Size 2015-2020 ($ Millions)
Figure 14. APAC VoIP Market Size 2015-2020 ($ Millions)
Figure 15. Europe VoIP Market Size 2015-2020 ($ Millions)
Figure 16. Middle East & Africa VoIP Market Size 2015-2020 ($ Millions)
Figure 17. Americas VoIP Market Size Market Share by Countries in 2019
Figure 18. Americas VoIP Market Size Market Share by Type in 2019
Figure 19. Americas VoIP Market Size Market Share by Application in 2019
Figure 20. United States VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 21. Canada VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 22. Mexico VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 23. APAC VoIP Market Size Market Share by Regions in 2019
Figure 24. APAC VoIP Market Size Market Share by Type in 2019
Figure 25. APAC VoIP Market Size Market Share by Application in 2019
Figure 26. China VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 27. Japan VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 28. Korea VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 29. Southeast Asia VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 30. India VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 31. Australia VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 32. Europe VoIP Market Size Market Share by Countries in 2019
Figure 33. Europe VoIP Market Size Market Share by Type in 2019
Figure 34. Europe VoIP Market Size Market Share by Application in 2019
Figure 35. Germany VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 36. France VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 37. UK VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 38. Italy VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 39. Russia VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 40. Spain VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 41. Middle East & Africa VoIP Market Size Market Share by Countries in 2019
Figure 42. Middle East & Africa VoIP Market Size Market Share by Type in 2019
Figure 43. Middle East & Africa VoIP Market Size Market Share by Application in 2019
Figure 44. Egypt VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 45. South Africa VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 46. Israel VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 47. Turkey VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 48. GCC Countries VoIP Market Size Growth 2015-2020 ($ Millions)
Figure 49. Global VoIP arket Size Forecast (2021-2025) ($ Millions)
Figure 50. Americas VoIP Market Size 2021-2025 ($ Millions)
Figure 51. APAC VoIP Market Size 2021-2025 ($ Millions)
Figure 52. Europe VoIP Market Size 2021-2025 ($ Millions)
Figure 53. Middle East & Africa VoIP Market Size 2021-2025 ($ Millions)
Figure 54. United States VoIP Market Size 2021-2025 ($ Millions)
Figure 55. Canada VoIP Market Size 2021-2025 ($ Millions)
Figure 56. Mexico VoIP Market Size 2021-2025 ($ Millions)
Figure 57. Brazil VoIP Market Size 2021-2025 ($ Millions)
Figure 58. China VoIP Market Size 2021-2025 ($ Millions)
Figure 59. Japan VoIP Market Size 2021-2025 ($ Millions)
Figure 60. Korea VoIP Market Size 2021-2025 ($ Millions)
Figure 61. Southeast Asia VoIP Market Size 2021-2025 ($ Millions)
Figure 62. India VoIP Market Size 2021-2025 ($ Millions)
Figure 63. Australia VoIP Market Size 2021-2025 ($ Millions)
Figure 64. Germany VoIP Market Size 2021-2025 ($ Millions)
Figure 65. France VoIP Market Size 2021-2025 ($ Millions)
Figure 66. UK VoIP Market Size 2021-2025 ($ Millions)
Figure 67. Italy VoIP Market Size 2021-2025 ($ Millions)
Figure 68. Russia VoIP Market Size 2021-2025 ($ Millions)
Figure 69. Spain VoIP Market Size 2021-2025 ($ Millions)
Figure 70. Egypt VoIP Market Size 2021-2025 ($ Millions)
Figure 71. South Africa VoIP Market Size 2021-2025 ($ Millions)
Figure 72. Israel VoIP Market Size 2021-2025 ($ Millions)
Figure 73. Turkey VoIP Market Size 2021-2025 ($ Millions)
Figure 74. GCC Countries VoIP Market Size 2021-2025 ($ Millions)
Reason to Buy
- Current and future of Telecommunications Market outlook in the developed and emerging markets
- Highlights key business priorities in order to assist companies to realign their business strategies
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- Regions that are expected to witness the fastest growth during the forecast period
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