The global average mobile termination rate fell to 4.3 US cents per minute in 2013 from 6.1 cents in 2011, research from Telecommunications Management Group (TMG) shows.
An analysis of 123 telecom markets shows that MTRs have nearly halved since 2009, when the average rate was 8.4 cents.
Based on the markets for which historical data is available, MTRs have also fallen 75% since 2005, the consultancy firm said.
The prices are likely to continue their downward trajectory as a result of ongoing regulatory interventions seeking to align interconnection rates with costs, TMG predicted.
There is a large disparity between MTR prices in different regions of the world, and even within regions.
North America has the highest average MTRs of 6.2 cents per minute, more than double the 2.8 cents per minute average from the Middle East and North Africa region.
MTRs are lower than the global average in Asia-Pacific, TMG said, but within the region rates range from 0.3 cents to 10.1 cents.