Global Audio Conferencing Services Market : Things You Need To Know

 

The Global Audio Conferencing Services Market was valued at USD 25.03 Billion in 2021, and it is expected to reach a value of USD 41.85 Billion by 2028, at a CAGR of 7.62% over the forecast period (2022 - 2028).

Audio conferencing is the use of electronic communication channels to hold meetings between three or more people who exclusively communicate through audio. Audio conferencing is in high demand these days for better corporate and staff management, as well as more productive interactions with partners. Many audio conferencing solutions can be used with a variety of online collaboration capabilities, such as screen sharing, team messaging, and conference recording, to make audio meetings even more valuable.

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Global Audio Conferencing Services Market Regional Insights

With a market share of more than 35%, North America is expected to dominate the global Audio Conferencing Services market. The need for lower-cost bridging compared to video conferencing, easy set-up, and a rich automated conference service feature are all factors influencing the growth of the audio conference market in this region. With the increasing adoption of audio conferencing, cloud computing and enterprise mobility have emerged as major trends in this market. Cloud-based platforms are increasingly being used to host audio conferencing services, and with mobility, users can now install a wireless app on their devices that encourage "bring your own device" (BYOD) participation in the audio conference. With Major market participants in APAC, the APAC region is expected to grow at the fastest rate.

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Top Player's Company Profiles

  • 8x8 (US)
  • Aastra Technologies (Canada)
  • BroadSoft (US)
  • Cisco (US)
  • Configure (US)
  • Corex (South Africa)
  • CSC(US)

Recent Developments

  • In May 2022, Xilica and Sennheiser have expanded their collaboration with the introduction of two new pre-validated, plug-and-play "room kits" for medium and large collaboration spaces. The IT-compliant room kits combine premium PoE-powered Xilica and Sennheiser audio conferencing solutions in a single compact in-ceiling system, with all components connected via CatX network cable.
  • In June 2022, Nureva has announced the appointment of AV Supply Group as its Australian distributor. Nureva's audio conferencing products were first introduced to the New Zealand market in 2017, and the group's expansion into Australia recognizes the demand from the shift to hybrid working and learning models.

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