Consultancy iSuppli are claiming projections of 103m IPTV homes by 2011 (from 4m in 2006).
As I've stated in previous posts, I've no doubt that 100% compound growth can be achieved in some countries - especially in the Middle East and Eastern Europe, legislation allowing.
But the big question is what will happen in the US. To reach this figure there will have to be strong take up of Fios and U-verse.
However, by 2011 the notion of IPTV will have disappeared anyway (or rather, internet TV and IPTV will have become interchangeable), so I think we can assume, since there are already 100m regular internet tv viewers around the world that iSuppli may have got it right for the wrong reason.