Conference Phone Systems Market is Expected to Experience a Swift Development by 2026
Business conference call is a telephonic call involving three or more people from different geographic locations for business discussion. Conference phone system conducts and initiates a call, which enables multiple callers to converse and listen to each other on the same call. In a conference call, the host participant runs the call, while the other participants dial a number to connect to the call through a conference bridge. Manufactures use traditional public switched telephone network (PSTN), IP phones that utilize internet telephony, or voice over internet protocol (VoIP) for connectivity of conference calls. IP telephone system is an advanced technology in conference phone systems; the caller can use VoIP services in IP phones for better voice quality and advanced features of IP telephony.
PSTN lines are used for traditional analog phone with limited functionalities. Highly advanced conference phones are available with a touch panel and better sound system, and captures voice in 360 degrees in a conference room. In standard analog phones, background noise, lack of voice clarity, and volume fluctuations usually create disturbances; in order to avoid such issues, enterprises are using dedicated conference phone systems.
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Rise in demand for standard business conferences, time saving methods, and simple solutions for making business calls are driving the growth of the conference phone systems market across the globe. Additionally, artificial intelligence in conference phone systems is anticipated to boost the market in the next few years. Enterprises are adopting new trends in communication media, such as users can communicate with each other with head mounted displays, which enable them to have hands-free communication experience during conference. Conference phone systems are a time-saving and cost-effective solution for enterprises for business communication.
Demand from enterprises for more advanced technology solutions is expected to create opportunities for manufactures and solution vendors. Industries such as education and government are also adopting conference phone system to expand their international contacts. However, integration challenges associated with video conference system are expected to affect the growth of conference phone systems market in the near future. One box solution is more preferred among enterprises for conference system as it has low maintenance cost and less integration issues. The global conference phone systems market can be segmented based on product type, end-user, enterprise size, and geography.
Based on product type, the conference phone systems market can be divided into wired devices and wireless devices. Wired devices can further be classified into analog system and IP phone. In terms of end-user, the conference phone systems market can be categorized into BFSI, government, IT & telecom, retail, automotive, education, health care, and manufacturing. Based on enterprise size, the conference phone systems market can be bifurcated into small & medium enterprises and large enterprises.
In terms of geography, the global conference phone systems market can be segmented into South America, Asia Pacific, Middle East & Africa, Europe, and North America. North America is expected to be the leading revenue-generating region in the global conference phone systems market, mainly due to rise in demand for conference phone systems with latest technologies to enhance user experience. Asia Pacific is expected to be a rapidly growing conference phone systems market in the near future due to the growing IT & telecom sector and significant presence of electronic equipment manufacturers in the region. Major companies are expanding their services with managed distribution network through local dealers to reduce their operating expenses and increase operational skills to manage sales and distribution process. This is expected to supplement the overall growth of the conference phone systems market during the forecast period.
Key players operating in the conference phone systems market include Koninklijke Philips N.V., Sony Corporation, Yamaha Motor Company Limited, Robert Bosch LLC, Sennheiser electronic GmbH & Co. KG, ClearOne Communications Inc., Phoenix Audio Technologies Revolabs, Inc., D&M Holdings, Inc., StarTech.com, Audio-Technica Corporation, TOA Corporation, Anchor Audio, Inc., Shure Incorporated, Acoustic Magic Inc., and Pyle Audio.
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