Global Hosted PBX Market is expected to grow at a CAGR of 15.70% over the Forecast Period of 2018 – 2024
By Infinium Global Research Aug, 2020
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 the 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 market growth.
The report on Global
Hosted PBX Market covers segments such as organization size and
end-users. The report provides regional analysis covering geographies such as
North America, Europe, Asia-Pacific, 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 report provides profiles of the companies in the global ShoreTel
Inc, Mitel Networks Corporation, Vonage, Bullseye Telecom, 8x8 Inc,
Intermedia.net Inc, XO Communications, 3CX, Megapath, and Digium Inc.