Adding functionalities to audio endpoints to transform them into media hubs will help vendors generate additional revenues, finds Frost & Sullivan
SANTA CLARA, California, Jan. 16, 2019 /PRNewswire/ -- The change in meeting room formats from large boardrooms to small huddle rooms in organizations all over the world has intensified the demand for voice over Internet protocol (VoIP) and universal serial bus (USB) tabletop audio conferencing endpoints. As huddle rooms are centered on robust audio that supports instant interaction and complements video conferencing, tabletop audio conferencing endpoints are increasingly being preferred by enterprises. In addition, the rapid migration from time division multiplexing (TDM) to IP infrastructure has boosted the demand for VoIP conference phones across small and medium meeting rooms.
"Although tabletop endpoints currently dominate the market, there still exists a market for installed audio conferencing endpoints," said Vaishno Srinivasan, Digital Transformation Industry Analyst. "Digital signal processors (DSPs) vendors are innovating by building installed audio systems with USB interfaces that can handle both audio and video streams."
Frost & Sullivan's recent analysis, Global Audio Conferencing Endpoints Market, Forecast to 2024, covers market sizing, key market trends and market forecasts for audio conferencing endpoints such as analog, VoIP, USB, and installed audio conferencing endpoints. This market is expected to reach $712.8 million by 2024, growing at a compounded annual growth rate (CAGR) of 8.1% between 2018 and 2024.
For further information on this analysis, please visit: http://frost.ly/32s.
"Participants that deliver innovative tabletop audio conferencing devices that double up as video and content-sharing media hubs will have a distinct edge. The growing deployment of video in medium/large meeting spaces across the globe is encouraging audio vendors such as Logitech and Polycom to bundle cams with their tabletop audio conferencing endpoints," noted Srinivasan.
Forward-looking audio conferencing endpoint vendors will aim to optimally tap the significant market expansion opportunities present in:
- Vendors focusing on cloud video services by ensuring tight integration between converged audio/video collaboration bundles.
- Integrating with enterprise UC and collaboration clients such as Microsoft Teams to realize the full potential of workflow enablement and leveraging existing expertise in microphone and loudspeaker technology to develop all-in-one (AIO) soundbars.
- Embedding artificial intelligence (AI) capabilities in conferencing endpoints to deliver more natural, contextual, and relevant meeting experiences. Polycom is already integrating Alexa Voice Services into its Trio conference phones.
"In addition, providing central management software for enhanced overall endpoint management is a strong differentiator in the highly competitive market. As audio endpoints are expected to be UC-compatible and work seamlessly with video endpoints and UC clients, it is vital that businesses implement central management software to effectively support installation, monitoring, and management of endpoints and infrastructure. It is also an important means to realize recurring revenues," concluded Srinivasan.
Global Audio Conferencing Endpoints Market, Forecast to 2024 is part of Frost & Sullivan's global Connected Workplace Growth Partnership Service program.
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Global Audio Conferencing Endpoints Market, Forecast to 2024
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SOURCE Frost & Sullivan