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. The research firm expects a gradual recovery in 2025 as enterprises find stability in their office models, and work patterns evolve.
Despite the challenges faced in 2023, Futuresource Consulting is optimistic about the audio conferencing market’s future trajectory. 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.
Scarlett Woodford, head of collaboration research at Futuresource Consulting, said: “Audio conferencing has evolved beyond more than just a standalone tech necessity. It is now a critical part of comprehensive workplace strategies.”
She added: “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. Audio conferencing is no longer just a tool for meetings. 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.”
In 2023, the audio conferencing market achieved a total value of $3.2bn. Unit volumes edged forward from 40.8m in 2022, to 41.2m 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.
Within the product segments, meeting room microphones has proven to be the standout performer. With a 3 percent increase in volume and 5 percent growth in market value, reaching $368m, this category reflects the demand for premium, high-performance microphones that support flexible, dynamic meeting room environments.
Woodford said: “The growth of microphone solutions reveals a broader trend, of businesses investing in higher-quality, future-resilient technologies. 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.”
Beyond microphones, other audio conferencing product categories faced mixed fortunes in 2023. Meeting room speakerphones saw a slight dip in market value, down 1 percent, to end the year on $344m. 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 percent and revenues decreasing by 6 percent. 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 percent growth in unit volumes, surpassing 37m units. However, market value saw a decline of almost 6 percent. This reflects the growing preference for budget-friendly wired headsets, as companies tighten their spending amid economic uncertainty.
