North America dominates the Hosted Private Branch Exchange (PBX) Market as the region is the largest purchaser of hosted PBX. These systems deliver efficient functioning capabilities such as enhanced web connectivity and efficient use of the office space and budgets expanding the adoption rate. Furthermore, a rise in the adoption of cloud services, IoT, and UC in the U.S. and the growth of the telecommunication sector also drives the hosted PBX market demand.
APAC is anticipated to grow at a high rate in the Hosted Private Branch Exchange (PBX) Market as the region is witnessing a rapid transformation of its IT infrastructure with rapid digitalization. The trend of enterprise mobility in this region is also a major contributor to the market growth. APAC holds around 60% of the market share for enterprise mobility followed by the UK and the U.S, making it important for the region to upgrade its traditional systems to the hosted PBX system.
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Hosted PBX Market size is set to see healthy CAGR to 2024 led by increase in the adoption of cloud and Unified Communication (UC), increasing requirements for enterprise mobility, and reduced Total Cost of Ownership (TCO). A hosted PBX is a cloud-based system accessible through an IP network. It allows organizations to use enhanced quality telephone systems without any additional investment costs. The entire telephone platform is managed by the service provider and for enabling the calling service, the subscriber connects through an IP to the provider. These systems provide businesses with an enhanced ability to manage their phone systems through a user-friendly control panel and are hence are becoming increasingly popular amongst SMEs.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Cisco Systems
- BT Group
- TPX Communications
- Comcast Business
- Mitel Networks
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However, maintaining the security and privacy of the hosted PBX systems is a major parameter restraining the market growth. As these systems carry huge amounts of customer-sensitive data, it is essential to take additional steps for enhancing the system safety against cyber threats. Moreover, if the service is unmanaged it may result into reduced quality of calls as the service is shared over the public internet, hampering the market growth.
The Hosted Private Branch Exchange (PBX) Market has been used for a wide array of services such as network traffic management services, virtual support, and assistance services, configuration and change management services, virtual deployments & setups, online charging services, protocol management services and emergency call routing services. The virtual deployment and setup services hold the largest market share as it assists the enterprises in deploying and setting up the entire hosted PBX and IP systems for efficient functioning at reduced operating cost. The protocol management services are projected to grow at the fastest rate over the forecast timespan as they provide the necessary parameters required for securely managing the protocols and establishing communication between IP phones and traditional phones with the highest voice quality. The service also reduces latency and delays thereby managing the information along with quality maintenance.
The Hosted Private Branch Exchange (PBX) Market is fragmented with the existence of a substantial number of players. Some of the major players present in the market are AT&T, Cisco Systems, BT Group, 3CX, Telesystem, TPX Communications, Digium, Oneconnect, Comcast Business, Mitel Networks, Avaya, and 8×8. These players are investing considerably in R&D activities and entering into strategic business partnerships to expand their presence in the competitive market.