Cloud PBX Market: Global Industry Analysis and Forecast (2023-2029)

Cloud PBX Market is expected to grow at a CAGR of 16.71 % over the forecast period 2023-2029, to account for US$ 18.86 Bn in 2029.
Cloud PBX Market Overview:
A Cloud PBX is one part cloud computing & one part PBX. The act of storing and accessing data over the Internet rather than on a computer or other hard drive is referred to as cloud computing. The term PBX stands for Public Branch Exchange. Voicemail, call blocking, conference calling, call auditing, call records, faxing, and automated messaging will all continue to be available.



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The MMR report studies the effectiveness of Cloud PBX on a global, regional, and company level. This research analyses historical data and future prospects to depict the Cloud PBX Market size from a global perspective.

Cloud PBX Market Trends:

The Telco Cloud is Becoming More Popular.

Rising Trend of Network Convergence and UC Applications.

Cloud Computing and Unified Communications are gaining popularity.

The Importance of Migrating from a Traditional PBX to a Cloud-Based PBX
Cloud PBX Market Dynamics:
The research comprehensively studies and explains the dynamics of the Global Cloud PBX Market, allowing readers to better understand emerging market trends, drivers, restraints, opportunities, and challenges on a global and regional level for the Global Cloud PBX Market. The following are some of the drivers their complete explanations are given in the study along with other supporting evidence:

• Growing Demand for Reducing Infrastructure Costs to Fuel the Industry Growth:

The adoption of sophisticated communication services to satisfy the requirement to reduce telecom equipment cost is rapidly growing in the hosted PBX industry. Enterprises are increasingly opting for hosted PBX services to save CAPEX and OPEX, as hosted services require less hardware investment, opening up new market opportunities.

• In Brazil, there is a rising trend in the delivery of digital services.

The government sector in Brazil is expected to increase at a rate of around 15% by 2029, owing to federal agencies' increasing use of contemporary telephony technologies to provide citizens with rapid and reliable digital services. Furthermore, rising demand for VoIP to offset the higher costs of traditional voice calling technologies is a major driver of market growth. Brazilian federal agencies are profiting from hosted PBX services, which help them cut expenses while improving connection.

• In France, a surge in demand for high system availability is driving the solution segment.

In France, the solution segment held over 40% market share in 2022, driven majorly by the gradual shift of enterprises from traditional voice & data services to high-quality hosted PBX services. Hosted PBX solutions are proven to be a profitable avenue for market expansion, as traditional hosted services suffer from regular system failures and sluggish response time, disrupting corporate continuity. The change to IP in the French telecom business has provided new opportunities for market players.
Cloud PBX Market Market Segmentation:
The MMR report covers all segments in the flag computing market such as Service, Organization, and End User

The SMEs organization which accounted for about 65% of the Cloud PBX market's revenue share, is predicted to continue to be the leading revenue segment between 2023 and 2029: SMEs organizations are seen as right customers for cloud PBX solutions, for countless reasons. The lower cost of providing enterprise-grade phone system capability is one of the key reasons. SMEs can utilise cloud PBX instead of purchasing and maintaining their own PBX system because they only have to pay a monthly fee that includes phone service, phone system apps, and equipment. Furthermore, cloud PBX offers online PBX management tools that enable organisations to make adjustments to their phone systems without having to contact their provider.

IT And Cloud Services segment is projected to grow at the highest CAGR of 17.03% during forecast period. However, it is expected to lose its dominance to BFSI by 2029. Cloud PBX delivers numerous benefits to the BFSI segment, which contains managing multiple office locations with virtual extensions, and improvement of call quality with features like call monitoring and recording. Financial institutions can also use call recording to re-examine discussions to eliminate misunderstandings, as well as noncompliance concerns. The BFSI sector is projected to boost the cloud PBX market because of these benefits.

Cloud PBX Market Market Reginal Overview:
Asia Pacific accounted for the largest xx% market share in 2022, with a market value of US$ xx Mn; the regional market is expected to register a CAGR of 17.45% during the 2023-2029. APAC's various economies are driving growth in a wide range of industries, including infrastructure, industry, technology, and a variety of others. As organisations in the region focus heavily on advanced digital transformation, the Asia Pacific market presents tremendous business opportunities for investing in cloud PBX technology. The growing number of BYOD and internet users in the region is driving up demand for improved mobile and internet services, resulting in more investment in better internet infrastructure. One of the main reasons for the market's strength is increased government assistance in nations like India. MNF Enterprise became the first Australian customer of Cisco's new cloud-based Webex Calling technology in May 2021.

The objective of the report is to present a comprehensive analysis of the Global Cloud PBX Market to the stakeholders in the industry. The past and current status of the industry with the 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 include market leaders, followers, and new entrants.

PORTER, 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 analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Cloud PBX Market dynamic, structure by analyzing the market segments and projecting the Cloud PBX Market size. Clear representation of competitive analysis of key players by Organization, price, financial position, product portfolio, growth strategies, and regional presence in the Cloud PBX Market make the report investor’s guide.
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Cloud PBX Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 6.39 Bn


Forecast Period 2023 to 2029 CAGR:
16.71 %
Market Size in 2029:
US $ 18.86 Bn.


 Segments Covered:
by Service
Managed Services
Professional Services
Network Services
IT And Cloud Services


by Organization
SMEs
Large Enterprises


by End User
BFSI
Real Estate
Healthcare
Retail



Cloud PBX Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players
1. Microsoft Corporation (U.S.)
2. RingCentral Inc.(U.S)
3. Vonage America Inc.(U.S.)
4. ShoreTel, Inc. (U.S.)
5. Five9 Inc. (U.S.)
6. Nextiva Inc.(U.S.)
7. Avaya Inc.(U.S.)
8. MegaPath Inc.(U.S.)
9. Jive Software Inc. (U.S.)
10.Phone.com (U.S.)
11.XO Communications, LLC
12.VirtualPBX.com, Inc.
13.Digium, Inc.
14.8x8, Inc.
15.Intermedia.net, Inc.
16.TelePacific Communications
17.Megapath
18.Engin
19.Bullseye Telecom
20.Vonage
21.Mitel Networks Corporation
22.Barracuda Networks Inc.
23.Cisco system Inc.
24.D-Link System Inc.
25.Allworx Corporations
Frequently Asked Questions:
1] What segments are covered in the Cloud PBX Market report?
Ans. The segments covered in the Cloud PBX Market report are based on Service, Organization, and End User

2] Which region is expected to hold the highest share in the Cloud PBX Market?
Ans. APAC region is expected to hold the highest share in the market.

3] What is the market size of the Cloud PBX Market by 2029?
Ans. The market size of the Cloud PBX Market by 2029 is US$ 18.86 Bn.

4] What is the forecast period for the Cloud PBX Market?
Ans. The forecast period for the Cloud PBX Market is 2023-2029.

5] What was the market size of the Cloud PBX Market in 2022?
Ans. The market size of the Cloud PBX Market in 2022 was US$ 6.39 Bn.