Global Cloud PBX Market was valued at USD 5.63 Bn in 2019 and is expected to reach at USD 6.36 Bn by 2027 at a CAGR of 12.98% over forecast period 2020-2027.
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The report covers an in depth analysis of COVID 19 pandemic impact on Global Cloud PBX Market by region and on the key players revenue affected till April 2020 and expected short term and long term impact on the market.
Global Cloud PBX Market Dynamics:
A cloud PBX system is based on cloud computing technology, where data is stored and transferred over the Internet, rather than on a computer or piece of hardware that an end-user owns. Cloud technology that has been around for many years, but has only more recently become popular for consumer use with the introduction of programs like MobileMe and the iCloud, both consumer-based cloud computing technologies. Various factors such as rising need for enterprise mobility, low Capex and TCO, an increasing adoption of the cloud and UC, necessity to upgrade from traditional PBX to cloud-based PBX are driving the market growth over forecast period. Rising adoption of the telco cloud, advent of Webrtc, growing trend of network convergence and UC applications are expected to create lucrative opportunities over forecast period.
However, factors such as security and privacy concerns, growing concerns about QOS, most of the VoIP companies require clients to train their staff for the self-install and maintenance of the system are expected to restrain the market growth over forecast period.
Global Cloud PBX Market is segmented by Service, by Organization Size, End-Users and by region. By organization size, SMEs are dominating the global market with xx% of market share in 2019 and is expected to keep its dominance over forecast period. An increasing number of SMEs in developing countries of Asia-Pacific such as China, India and Japan is fuelling the demand for global cloud PBX market over forecast period. With a cloud-based PBX system, there is little hassle for SMEs that want to create and manage virtual offices, which gives them opportunities in creating a local, nationwide, or even global presence. By Service, professional services dominating the global market with xx% of market share over forecast period. Cloud PBX gives businesses the flexibility they need to be able get the latest phone system features without dealing with hardware updates.
By geography, market is segmented into North America, APAC, Europe, MEA& Africa and Latin America. Among all of these, North America is leading the global cloud PBX market with xx% of market share over forecast period. In North America large enterprises are investing in wireless technologies trending technologies, such as cloud, IoT, mobility, and UC, which is driving the market growth in this region. North America is followed by APAC and Europe. APAC is expected to hold 27.87% of market share over forecast period. The start-up culture in china, India and South Korea is growing at rapidly. These start-ups are adopting hosted PBX solutions and services to achieve a reliable communication system to improve the connectivity within organizations with less investments and minimal maintenance.
Report covers in depth analysis of key development and company profiles of market leaders, potential players and new entrants. Some of the key players operating in this market are Cisco Systems (US), AT&T (US), Microsoft Corporation, Avaya (US), BT Group (UK), Mitel Networks (Canada), 8x8 (US), Polycom (US), Comcast Business (US), MegaPath (US), CenturyLink (US), RingCentral (US), and XO Communications (US). New product launches is the main growth strategy adopted by these key players. Among all of these Cisco Systems is dominating the market with xx% of market share. Cisco’s, small business PBX (Private Branch Exchange) is a telephone switching system that manages incoming and outgoing calls for a company's internal users. It also shares and manages multiple lines. A typical small business are adopting Cisco’s PBX system for their managed and professional services. BroadSoft, a leading provider cloud-based calling and contact centre service provider entered into an agreement with Cisco for its acquisition. The acquisition is expected to boost Cisco’s capabilities for enabling robust cloud-based PBX solutions suite for their small and large emperies owners.
The objective of the report is to present a comprehensive analysis of the Global Cloud PBX Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Cloud PBX Market dynamics, structure by analyzing the market segments and project Global Cloud PBX Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Cloud PBX Market make the report investor’s guide.
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Scope of Global Cloud PBX Market: Inquire before buying
Global Cloud PBX Market by Service
• Managed Services
• Professional Services
• Network Services
• IT And Cloud Services
Global Cloud PBX Market by Organization Size
• Large Enterprises
Global Cloud PBX Market by End User
• Real Estate
Global Cloud PBX Market by Region
• North America
• MEA& Africa
• Latin America
Global Cloud PBX Market Major Players
• Microsoft Corporation (U.S.)
• RingCentral Inc.(U.S)
• Vonage America Inc.(U.S.)
• ShoreTel, Inc. (U.S.)
• Five9 Inc. (U.S.)
• Nextiva Inc.(U.S.)
• Avaya Inc.(U.S.)
• MegaPath Inc.(U.S.)
• Jive Software Inc. (U.S.)
• Phone.com (U.S.)
• XO Communications, LLC
• VirtualPBX.com, Inc.
• Digium, Inc.
• 8x8, Inc.
• Intermedia.net, Inc.
• TelePacific Communications
• Bullseye Telecom
• Mitel Networks Corporation
• Barracuda Networks Inc.
• Cisco system Inc.
• D-Link System Inc.
• Allworx Corporations
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