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.
Market Insight
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.
Segment Covered
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.
Geographic Coverage
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.
Companies Profiled:
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.
Report Highlights:
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.