Speakerphones (Global Market)

Main article: Videoconferencing

2023: Global Videoconferencing Speakerphone Market Size Reaches $3.78 Billion for the Year

In 2023, sales of videoconferencing speakerphones on a global scale reached $3.78 billion. For comparison, a year earlier, the volume of this market was $3.61 billion. Thus, an increase of almost 5% was recorded. This is stated in the Market Research Future review, released at the end of August 2024.

Analysts highlight several key factors that ensure the positive dynamics of the industry. One of them is the development of remote work and distance learning. Against the backdrop of the COVID-19 pandemic, the need for video conferencing facilities has significantly increased, which has generated additional demand for speakerphones. In addition, the integration of intelligent features such as voice assistants helps to increase sales. Plus, technological advances are constantly improving the capabilities and characteristics of speakerphones. Next-generation devices offer features such as noise cancellation, echo elimination and broadband sound, which improves call quality and provides a more immersive user experience.

Analysts divide speakerphones into portable and desktop models, as well as devices for conference rooms. The portable segment held the largest market share in 2023. By connection type, speakerphones are classified as wired and wireless: in 2023, their shares amounted to 28.5% and 71.5%, respectively. Harman Kardon, AudioCodes, VXi, Yealink, ClearOne, Jabra, Logitech, Sennheiser, Bose, Polycom, Yamaha, Biamp, Konftel, Cisco and Plantronics are named significant industry players.

It is estimated that in 2024 sales of videoconferencing speakers on a global scale will amount to about $3.95 billion. According to Market Research Future analysts, in the future, the CAGR (CAGR in complex percentages) will be at 4.64%. As a result, by 2032 the volume of the industry will reach $5.68 billion.^[1]

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