Audio conferencing market adapts to economic uncertainty, with stronger recovery expected in 2025, says Futuresource Consulting

Futuresource Consulting has published its latest global audio conferencing market report, detailing the essential insights and trends in the industry. Despite headwinds, including tighter enterprise budgets and economic caution, the market has demonstrated a capacity for growth.

“Audio conferencing is no longer just a tool for meetings,” says Scarlett Woodford, Head of Collaboration Research at Futuresource Consulting . “It’s the backbone of modern integrated communication in the hybrid work era. Organisations are investing in solutions that deliver seamless, high-quality experiences, even as they navigate economic pressures. This shift is reshaping the entire industry.”

A market with resilience

In 2023, the audio conferencing market achieved a total value of $3.2 billion. Unit volumes edged forward from 40.8 million in 2022, to 41.2 million in 2023. This modest growth underscores the industry's robust adaptability, as it pivots to meet the evolving needs of enterprises in an unpredictable economic landscape.

Meeting room mics going strong

Within the product segments, meeting room microphones has proven to be the standout performer. With a 3% increase in volume and 5% growth in market value, reaching $368 million, this category reflects the demand for premium, high-performance microphones that support flexible, dynamic meeting room environments.

“The growth of microphone solutions reveals a broader trend, of businesses investing in higher-quality, future-resilient technologies,” says Woodford. “As hybrid meetings become the norm, businesses are looking for solutions that support clear, reliable communication across a wide range of room layouts and meeting formats.”

Challenges and changing dynamics

Beyond microphones, other audio conferencing product categories faced mixed fortunes in 2023. Meeting room speakerphones saw a slight dip in market value, down 1%, to end the year on $344 million. Despite this, the demand for mid-to-high-range solutions remains strong, fuelled by continued investment in professional-grade devices designed for hybrid work.

Conference phones faced a significant downturn, with volumes falling by 8% and revenues decreasing by 6%. This decline signals a growing shift towards more dynamic, feature-rich communication alternatives, such as video conferencing solutions and advanced speakerphones.

Conversely, office-based headsets posted 1% growth in unit volumes, surpassing 37 million units. However, market value saw a decline of almost 6%. This reflects the growing preference for budget-friendly wired headsets, as companies tighten their spending amid economic uncertainty.

Market buoyancy and future growth

Despite the challenges faced in 2023, Futuresource Consulting is optimistic about the audio conferencing market’s future trajectory. The research firm expects a gradual recovery in 2025 as enterprises find stability in their office models, and work patterns evolve. The next phase of growth will be driven by increasing investments in audio solutions with AI-powered features for natural sound optimisation and automation, meeting the needs of flexible, hybrid workspaces.

“Audio conferencing has evolved beyond more than just a standalone tech necessity,” says Woodford. “It is now a critical part of comprehensive workplace strategies,” says Woodford. “As hybrid and flexible workspaces continue to expand, companies are investing in future-facing solutions that support better communication, collaboration and productivity. It is in this central strategic role that we see real  audio conferencing growth potential in the coming years.”

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About Futuresource Consulting

Futuresource Consulting, established in the 1980s, is a leading research and consulting firm specialising in global market analysis, forecasts and strategic insights. With a deep understanding of emerging trends and technologies, Futuresource helps businesses navigate complex markets and make informed decisions.

To learn more about the Video Conferencing Market Report or to make a purchase, please contact Benedict Greenwood at benedict.greenwood@futuresource-hq.com or visit www.futuresource-consulting.com.

Press Contact: Nicola Finn, Marketing Manager,   Futuresource Consulting, nicola.finn@futuresource-hq.com

About the author

Scarlett Woodford

Scarlett is a Senior Market Analyst in the Collaboration team at Futuresource Consulting, responsible for researching and consulting on the ways we work together, in an increasingly hybrid landscape.

 With a background in telecommunications and connectivity services, Scarlett is particularly interested in the impact of new technologies on existing business models.

 Scarlett has a degree in Psychology from the University of Surrey and has previous experience working as a research analyst in the service provider market.