A recent report published by Infinium Global Research on virtual PBX market provides in-depth analysis of segments and sub-segments in global as well as regional virtual PBX market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional virtual 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 virtual PBX market. According to the report, the global virtual PBX market is projected to grow at a CAGR of 15.6% over the forecast period of 2018-2024.
A Virtual PBX (private branch exchange) is a phone system that uses Voice over Internet Protocol (VoIP) technology for Internet calling. Virtual PBX service providers are constantly evolving and offering more additional services. This includes features like call waiting, call forwarding, and messaging. Virtual PBX services also include voice and video conferencing that is helping businesses to interact with remotely-located employees and customers. Without the need to install special software, managers can collaborate online at minimal costs. The users may activate this PBX with gateways and special hardware or software. The connection happens through the local network or 3G/4G on the smartphones. The main advantage of using the virtual PBX is that it is much cheaper than to set up traditional PBX. It simply needs to pay a low monthly fee for service, and equipment. Use of internet, High-cost hardware, gateways, and connectors can make calls using the laptop and headset.
Reduction in the total cost of ownership by bringing the capital expenditure as the phone needs yearly phone fees drives the growth of the virtual PBX market. In addition, increased employee productivity and improved consumer satisfaction are strengthening the virtual PBX market. Cost savings through reduced phone and fax charges are aiding the market growth. However, mismatched hardware such as switches and equipment’s are the factor curtailing the virtual PBX market during the forecast period. Furthermore, Growth in mobile telecommunication technology has enabled people to remain connected to the Internet from anywhere in the world. This has created the need to develop specialized solutions for mobile operating systems such as Android and IOS. On the other hand, increasing adoption of Telco clouds, small and medium-sized enterprises are relying more on virtual PBX. This, in turn, is creating several growth opportunities for the key players in the Virtual PBX market over the years to come.
Among the geographies, Americas dominated the virtual PBX market. The growth in the Americas is due to the most of the contribution from the U.S. The flexible IT support and leveraging the IT infrastructure primarily drives the majority of the companies in this region. Moreover, increasing use of cloud and internet solutions is anticipated to expand at the rapid pace in the Asia Pacific region.
The report on global virtual PBX market covers segments such as enterprise size. On the basis of enterprise size, the global virtual PBX market is categorized into small & micro enterprises, medium enterprises, and large enterprises.
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 virtual 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 virtual PBX market such as Nextiva, Inc., Birch Communications, Inc., AstraQom, Voysis IP Solutions Inc., AllStream, Inc., Digitcom, TeraGo Networks Inc., BroadSoft, Inc., and Alpha Telecom Services 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 virtual 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 virtual PBX market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the virtual 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 virtual PBX market to understand the present and future trends in this market and formulate their strategies accordingly.
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