The future of audio conferencing is resilience, innovation and strategic value

by Scarlett Woodford, Head of Collaboration, Futuresource Consulting 

In an era defined by economic uncertainty and shifting work dynamics, the audio conferencing market is proving its resilience and adaptability. At Futuresource Consulting, our latest market report highlights how this industry is evolving, responding to challenges and opportunities as businesses navigate the realities of hybrid working. 

A backbone for modern communications 

Audio conferencing has transitioned from being a simple tool for meetings to becoming a cornerstone of integrated communication strategies. In 2023, the market achieved a value of $3.2 billion, with unit volumes rising slightly from 40.8 million in 2022 to 41.2 million. These numbers reflect the industry's ability to adapt to changing enterprise needs. 

However, this shift isn’t just about incremental growth. It’s about redefining the role of audio in today’s workplaces. Companies are prioritising seamless, high-quality experiences that foster better collaboration, even in the face of tighter budgets and economic pressures. 

Meeting room microphones gaining in popularity 

One standout form factor in 2023 has been the meeting room microphone, which saw a 3% increase in volume and a 5% growth in market value, reaching $368 million. This underscores a growing demand for premium, high-performance solutions that enable dynamic and flexible meeting environments. 

As hybrid meetings become the norm, businesses are recognising the value of investing in future-resilient technologies. High-quality microphones ensure clear, reliable communication, which is a necessity for diverse meeting formats and room layouts. The trend towards premium solutions demonstrates how businesses are aligning their investments with the long-term needs of hybrid working. 

Challenges and opportunities in other categories 

While meeting room microphones thrived, other segments faced mixed results. Meeting room speakerphones experienced a slight dip, ending 2023 with a market value of $344 million. Similarly, conference phones saw an 8% decline in volumes and a 6% decrease in revenue. These shifts reflect a broader move towards feature-rich alternatives, such as advanced speakerphones and video conferencing systems, which offer greater flexibility and functionality. 

Office-based headsets, on the other hand, experienced modest volume growth, surpassing 37 million units. However, market value declined by nearly 6%, as budget-friendly wired solutions gained traction amidst tightened enterprise spending. 

Looking ahead for innovation and strategic value 

Despite the challenges, we’re optimistic about the future of audio conferencing. We expect stronger growth to resume in 2025, driven by evolving workplace models and increased stability in enterprise operations. One key driver will be the integration of AI-powered features, which will include features such as natural sound optimisation and automation, all designed to enhance flexibility and productivity in hybrid work environments. 

Above all else, what we are seeing is that audio conferencing is no longer just a standalone necessity. It’s an integral part of comprehensive workplace strategies. Companies are recognising its potential to foster better communication and collaboration, creating workplaces that are more connected and efficient. 

Why does this matter to the industry?

For tech executives and industry leaders operating in the audio conferencing space, the message is clear: the market’s evolution is not just about surviving economic pressures. It’s about reimagining how businesses communicate and how they collaborate in a hybrid world. The organisations that thrive will be those that invest in future-forward solutions, prioritise quality and innovation, and understand the strategic value of audio as a linchpin of modern enterprise. 

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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.