Hosted PBX or hosted private branch exchange is a telephone exchange system which is delivered, built, and managed by a third-party service provider. This technology provides small, medium-sized organizations with a PBX phone system while minimizing equipment costs. Installation of a cloud phone allows an employee to work from remote offices, a hotel or on their cell phone while remaining connected to the same office telephone system. Moreover, it provides call control features and services and is connected with customer telephone systems through IP based networks or the internet. Moreover, the necessity of enterprise mobility is an important factor fuelling the growth of global hosted PBX market during the forecast period of 2017- 2025.
The cost-saving benefits offered by PBX phone systems is the key driver for the growth of the global hosted PBX market. Also, the increasing adoption of cloud and UCis a major factor for making this market more demanding during the estimated period. The global hosted PBXbusinesses are growing with the implementation of the PBX phone system. This creates a virtual presence at sites where they do not have a physical presence. Therefore, a number of companies started adopting these services. In addition to this, another important factor which drives the market of hosted pox market is instinctive web interfaces which are manageable and can be monitored by anyone, and hence, hosted PBX is user-friendly. The advent of WebRTCis further expected to make the market demanding in the near future. Numerous security layer coupled with failover expertise accessible by service earner is more likely to surge the growth of this market during the estimated period.
The global hosted PBX market in the report is segmented by organization size which includes small & medium- size enterprises, and large organizations. Based on service type, the market has been analyzed as managed service, cloud & IT service, network Service, and others. Moving forward, the global hosted PBX market is divided into the end- users which include banking, financial services, and insurance, media & entertainment, telecom & IT, government, and others. Moreover, the global hosted PBX market is segmented geographically which includes North America, Europe, Asia-Pacific, Middle East, and Africa and Latin America.
Increasing number of cloud phone system project and fast growing technological advancement in Asia-Pacific, makes the region holds the largest market share. Rising internet of things and massive investment by the key vendors along with the adoption of the latest technology for providing better connectivity are mainly driving the North America market. Additionally, the presence of large IT industries in the U.S.hasraised the demand for this market in this region.
However, in recent years, lack of cloud phone system users is expected to pose a threat to the growth of the global hosted PBX market.
Some of the major players in the global hosted PBX include Alpha Telecom Services Inc., Allstream Inc., AstraQom International, Bell Canada, Birch Communication, Broadsoft Inc., Broad connect 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: ByEnd-User
Global Hosted PBX Market: By Geography