Global Hosted PBX market in terms of revenue is expected to reach $11.8 Billion by 2025 at a CAGR of 15.8% from 2018 to 2025 as per new market research report titled Global Hosted PBX Market (By organization size- small & medium size enterprises, and large organizations. By service type- managed service, cloud & IT services, network service, and others. By end-user- banking, financial services & insurance (BFSI), media & entertainment, telecom & IT, government, and others) – global industry analysis, size, share, growth, trends, and forecast, 2017 – 2025, by Sheer Analytics & Insights Pvt. Ltd.
Hosted PBX is a telephonic exchange system. This technology is built, managed, and delivered by a third-party service provider. It provides the small & medium-sized organizations with a PBX phone system at the time of minimizing the equipment cost. The technology enables the installation of cloud phone for remote access. It is noted that services and call control features is provided to the user’s telephone systems through the internet or through the IP based networks. Moreover, the market of the hosted PBX is boosting due to the increasing need for cloud along with the unified communication and for the bringing flexibility in the enterprise and thus Global hosted PBX market is expected to grow in the near future.
“The contact center industry is expected to experience explosive growth over the next few years, and we intend to be at the forefront of that explosive growth. With the launch of the Hosted Contact Center and PBX, we are giving our clients all the VOIP solutions they need to operate like a big business at an affordable price.” David Spore, President and CEO of Alcor Consulting, Inc., said while announcing the launch of Contact Center, and VoipCor Hosted PBX, two advanced VOIP solutions by Alcor.
Global hosted PBX market is expanding with the increasing adoption of cloud-based PBX and unified communication by the end-user. The market is also influenced by the rising demand for video conferencing and hence, the major players are looking for the improved unified communication for delivering the best platforms to their users. Another prime factor which is driving the market is instinctive web interfaces which are manageable and can be monitored by an individual. Presently, Advent of WebRTC is expected to fuel the growth of this market during the estimated period.
Among the other regions, North-America is estimated to hold the largest market size for the hosted PBX market during the estimated period. Increasing adoption of cloud-based PBX, internet of things, and unified communications among the others drives the critical need for effective communication and reliable in this region and therefore, helps the region for holding the largest market share of the hosted PBX market. The increasing investment by the key players for the development of cloud phone system and rising internet of things in the Asia Pacific is expected to be the fastest growing region during the projected period. Furthermore, the presence of big IT industries in the U.S has raised the demand for Global hosted PBX market in this region.
In the recent market research reports published by Sheer Analytics & Insights, Global hosted PBX market has been segmented based on the organization size, service type, and end-user. Based on the organization size, the market has been analysed as small & medium- size enterprises, and large organizations. The major service type of Global hosted PBX market includes managed service, cloud & IT service, network Service, and others. On the basis of end-user, the market is segmented into banking, financial services and insurance, media & entertainment, telecom & IT, government, and others. The market is also further segmented into geographical region North America, Middle East & Africa, Asia-Pacific, and Latin America.
The major companies in Global hosted PBX market are as follows, Alpha Telecom Services Inc., Allstream Inc., AstraQom International, Bell Canada, Birch Communication, Broadsoft Inc., Broadconnect Telecom Inc., Cisco System Inc., and Nurango Networks.
Global Hosted PBX Market: By Organization Size
Global Hosted PBX Market: By Service Type
Global Hosted PBX Market: By End- User
Global Enterprise Software Market: By Geography
Middle East and Africa
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