Audio Conferencing Services Market

Global Audio Conferencing Services Market Size (2024 to 2032)

The size of the global audio conferencing services market is expected to grow at a CAGR of 10.4% from 2024 to 2032 and be worth USD 63 billion by 2032 from USD 28.55 billion in 2024.

Nowadays, business travel has been an integral part of the businesses over the last decade. Due to the increasing competition and decreasing profits, as well as the need to cut down on operational costs, most enterprises have focused on adopting solutions that eliminate business travel. For these scenarios, audio conferencing acts as one of the prime solutions that can eliminate the need to travel from one place to another by conveying messages and conducting meetings over a simple phone call.

MARKET DRIVERS

Rising demand for a reliable, cost-effective and multi-party communication establishment is a factor that is expected to propel the growth of the audio conferencing services market during the forecast period.

Evolving communications infrastructure is expected to play an essential role in the growth of the audio conferencing services market across the globe. The growing investments in R&D activities and technological advancements are further boosting the growth of the audio conferencing services market during the forecast period. Rising demand for reliable, cost-effective and multi-party communication establishments which was associated with increasing travel costs is one of the major driving factors that promote the growth of the revenue rate of the audio conferencing services market during the forecast period.

MARKET RESTRIANTS

Limitations to the number of participants are one of the important barriers to market growth. Also, the inconvenience that occurred to the participants and the lack of visuals are some of the factors that act as an important deterrent to the growth of the audio conferencing services market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Audio Conferencing Services Market Analysis By Type

The phone-enabled conferencing segment held the prominent share and this segment is predicted to remain at the forefront throughout the forecast period since most of the users prefer the option that is enabled by phone and this form of conference takes place using both the cell phone as well as traditional telephone and due to the dearth of internet quality, most of the users prefer this phone enabled conferencing.

Global Audio Conferencing Services Market Analysis By Deployment Mode

The software as a service deployment mode segment holds the major share of the market and this segment is expected to hold the dominance during the forecast period.

Global Audio Conferencing Services Market Analysis By End User

The private sector segment held a prominent share of the market among the other segments since the communication innovation has facilitated the business and made it faster, easier and more cost-effective whereas the companies have started using these audio and web collaboration techniques to communicate with the customers and also the team members at different locations. Furthermore, it is not possible to travel to different locations for a meeting which is considered to be the most cost-effective and efficient system to reach the clients and the team through audio web conferencing.

REGIONAL ANALYSIS

North America region holds the prominent share of the market due to factors such as the rapid growth of the audio conference market in the region which includes the need for low-cost bridging when compared to video conferencing, easy setup, and a rich automated conference service feature. Furthermore, the increasing adoption of audio conferencing across different countries such as the US, Canada, and Mexico propels the growth of the market. The North America region is expected to hold dominance during the forecast period.

Asia Pacific region is expected to increase the market value due to the presence of major market participants in the region especially in some of the countries such as India, China and Japan, and also the strategy of expanding the existing portfolio of products and services to retain the existing customers helps the growth of the market.

Europe region is also expected to increase the market growth followed by the North American region and Asia Pacific region due to Rising demand for a reliable, cost-effective and multi-party communication establishment.

KEY PLAYERS IN THE GLOBAL AUDIO CONFERENCING SERVICES MARKET

Companies playing a leading role in the global audio conferencing services market include Mitel Networks, Adobe systems, Avaya Inc., Siemens Enterprise Communications, T&T Inc., PGi, Microsoft Corporation, Cisco Systems, IBM, British Telecom Group plc., 8x8, Aastra Technologies, Alcatel-Lucent and BroadSoft. Microsoft Corporation company from the U.S. is the leading company in the audio conferencing services market.

RECENT HAPPENINGS IN THE GLOBAL AUDIO CONFERENCING SERVICES MARKET

• Free conference services for Indian NGOs were launched in the month of January 2017, and this free call donation conference will be routed through a technology assistance program being offered by the Nasscom foundation in partnership with TechSoup and Eagle conferencing.

• Airtel company ties up with Zoom company in the month of March 2019 to launch a unified business communication solution whereas through this tie up the Airtel company will offer its corporate customers the benefits of Zoom which includes built-in audio conferencing for free.

DETAILED SEGMENTATION OF THE GLOBAL AUDIO CONFERENCING SERVICES MARKET INCLUDED IN THIS REPORT

This research report on the global audio conferencing services market has been segmented and sub-segmented based on type, deployment type, end user and region.

By Type

• Phone Enabled Conferencing
• Web-Based Voice Over Internet Protocol Technology

By Deployment Mode

• On-Premises
• Software As a Service
• Others

By End User

• Government Sector
• Private Sector
• Residential
• Others

By Region

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa