The cloud PBX is a virtual PBX system or Hosted PBX. It is a private branch exchange that is basically used for processing the transfer of load associated to manage voice calls and other telephones to the cloud. The cloud PBX system is being widely adopted by cloud service thereby providing the better delivery of the virtualized PBX system. In various systems, the data is being stored and transferred to the internet instead of a conventional computer or hardware. The systems are further hosted to support entire servers for both off-site data centers powered by the internet. In the past few years, many of the IT companies have started adopting cloud computing to their network infrastructure for better and efficient work balance. There are numerous benefits of cloud PBX which has increased employee productivity, improved customer satisfaction, and corporations could convert their capital disbursement into operational disbursement.
According to study, “Global Cloud PBX Market to reach USD XXX billion by 2026” the key companies operating in the global cloud PBX market are Microsoft Corporation, Barracuda Networks Inc., Nextiva Inc., Mitel Networks Corporation, RingCentral Inc., D-Link System Inc., Avaya Inc., Panasonic Corporation, Cisco Systems, Inc., and NEC Corporation. The key players have adopted various strategies to increase they’re the global presence and enhance their market shares. Some of the key strategies adopted by major players are new product developments in terms of advanced material, mergers & acquisitions (M&A), and the formation of strategic partnerships and collaborations.
Based on the type, the cloud PBX market is segmented as WAN and LAN. Based on services, the market is segmented as virtual assistance & support, online charging services, network traffic management, emergency call routing services, configuration & change management, virtual deployment & setup, compliance management services, bandwidth management & optimization, protocol management services, and others. Based on organization size, the market is segmented as large enterprises and small & medium enterprises (SMEs) and others. Based on the application, the market is segmented as industrial and commercial. In addition, based on end-user, the market is segmented as healthcare, government, retail, BFSI, real estate, and others.
The cloud PBX market is driven by the rise in the necessity for organization mobility, followed by growth in the adoption of the cloud. However, the rise in security & privacy issues may impact the market. Moreover, an increase in the trend of network convergence and growth in the implementation of the Telco cloud are key opportunities for the market. Furthermore, growth in the adoption of PLX cloud in the healthcare industry and the rise in popularity of Unified Communications (UC) applications are major trends for the market.
Based on geography, the North-American region holds a major share in the global cloud PBX market owing to growth in the early adoption of the technology along with the high number of connected devices in the region. Whereas, the Asian-Pacific and European regions are expected to exhibit considerable growth rate due to the presence of a large number of data centers and rise in investment in the high-speed Internet infrastructure over the forecast period. In near future, it is projected that the global cloud PBX market will be reached at a rapid pace on an account of the rise in availability of high-speed internet services such as 5G during the forecast period.
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