A recent report published by Infinium Global Research on hosted PBX market provides in-depth analysis of segments and sub-segments in global as well as regional hosted PBX market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional hosted PBX market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global hosted PBX market. According to the report, the global hosted PBX market is projected to grow at a CAGR of 15% over the forecast period of 2018-2024.
Hosted private branch exchange is a telephone exchange system built, delivered and managed by third-party service provider. A Hosted PBX allows companies to utilize and take complete advantage of their phone system features such as voicemail, faxing, automated greetings, and conferences and so on. The benefits offered by hosted PBX solutions are Initial and ongoing cost savings. There is no need for a large investment before installing the phone system and also the maintenance cost of the phone system is much lower as it does not need to hire someone in-house to operate and maintain the PBX.
The increasing need for enterprise mobility and rising adoption of the cloud and integrated communication drives the hosted PBX market. Cloud-based telecommunications in the form of hosted PBX services enables medical professionals to have access to their patients and center of operations from a certain location at any time of the day. The hosted PBX systems provide more freedom to the workforce enabling employees to work from their desired locations or smartphones under a single office telephone system. In addition, multiple security layers and failover of the technology offered by the service providers are strengthening the growth of the hosted PBX market. However, security and privacy concerns are the factors likely to curtail the growth of the Hosted PBX market. Furthermore, increasing convergence of network and universal control (UC) applications expedite various growth opportunities for the key players in the Hosted PBX market. On the other hand, the rising need to upgrade from the traditional on-premise PBX systems to cloud-based PBX systems will also foster the market growth.
Among the geographies, North America is anticipated to hold the largest market share in the Hosted PBX market. The growth in the North American region is due to the adoption of various trending technologies such as cloud, IoT, mobility, and UC. Furthermore, a growing number of small and medium-sized enterprises and increasing digitalization in organizations are projected to drive the North American market. On the other hand, Asia Pacific is anticipated to witness significant growth and is expected to be the fastest growing region in the hosted PBX market. The demand for UC and video conferencing is growing, and therefore the companies are looking for advanced UC components and delivery platforms in the Asia Pacific regions. Moreover, increasing trend of adopting VoIP (Voice over Internet protocol) solutions and services, are expected to provide added benefits to the growth of the hosted PBX market in Asia Pacific regions.
The report on global hosted PBX market covers segments such as organization size and end-users. On the basis of organization size, the global hosted PBX market is categorized into small and medium-sized enterprises and large enterprises. On the basis of end-users, the global hosted PBX market is categorized into financial services, healthcare, education, manufacturing, it and telecommunication, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the hosted PBX market. As a result, the APAC region is projected to experience a growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global hosted PBX markets such as ShoreTel Inc, Mitel Networks Corporation, Vonage, Bullseye Telecom, 8x8 Inc, Intermedia.net Inc, XO Communications, 3CX, Megapath, and Digium Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global hosted PBX market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of hosted PBX market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the hosted PBX market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the hosted PBX market to understand the present and future trends in this market and formulate their strategies accordingly.