Cloud PBX market growth accelerated to reach a CAGR of 21.43% in 2030

Future of market research

Future of market research

Growing adoption among businesses to remain competitive around the world

New York, USA, Nov. 23, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Global Cloud PBX Marketby Service, Organization Size, End User – Forecast to 2030”, the global cloud PBX market is set to fetch $68.4 billion by 2030, growing at a CAGR of 21.43% over the review period (2020 -2030).

Cloud PBX Market Overview

The global cloud PBX market is forecast to see rapid revenue growth. The proliferation of digital transformation and cloud infrastructure across all industries will provide a major boost to market growth. cloud switchboard (CPBX) adds features to the existing infrastructure for each carrier and service provider. The slim, self-contained CPBX features exceptional simplicity and ease of use and easily scales to multiple PBX phone systems, allowing customers to experience voice over IP and cloud calls. Businesses of all sizes around the world are undergoing a tremendous digital transformation. They are increasingly adopting cloud infrastructure to incorporate cloud-hosted platforms and services into their organizational structure.

With CPBX, telecommunication companies offer next generation access and provide cloud communication services to businesses. Growing customer demand for high-quality, easy-to-use hybrid PBX solutions from telcos and enterprises increases market value. Due to the significant transition from on-premise environments to the cloud, the market is anticipated to witness significant traction in the coming years.

The leading players in the Cloud PBX market include,

  • Microsoft Corporation (Skype – USA)

  • Nextiva Inc. (USA)

  • RingCentral Inc. (USA)

  • Avaya Inc. (USA)

  • Barracuda Networks Inc. (CudaTel – USA)

  • Vonage America Inc. (USA)

  • Cisco System Inc. (USA)

  • D-Link System Inc. (Taiwan)

  • Allworx Corporations (USA)

  • BullsEye Telecom Inc. (USA)

  • Mitel Networks Inc. (Canada)

  • MegaPath Inc. (USA)

  • NEC Corporation (Japan)

  • and Panasonic Corporation (Japan)

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Key trends of the global Cloud PBX market

In today’s competitive environment, companies must embrace a hybrid workplace into their organizational culture and procedures to stay ahead of the competition. Companies of all sizes are intent on supporting a hybrid workplace, as maintaining a hybrid workplace is crucial to staying competitive in the marketplace and attracting and retaining talented employees.

However, remote work poses significant challenges for companies, criticalities in the adoption of new digital technologies and a change in organizational culture that promotes the need for new work strategies to meet business objectives on time. In such scenarios, a cloud PBX system with features like auto attendant, advanced call handling, call recording and monitoring, reporting and analytics, and that can support online faxing and video conferencing becomes imperative.

Cloud PBX Market Scope of the report:

reporting metrics

Details

Cloud PBX Market Size by 2030

$68.4 billion

Cloud PBX Market CAGR during 2020-2030

21.43%

base year

2019

Forecast

2020-2030

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Key market opportunities

There are factors that go a long way in driving the opportunities for the growth of the Cloud PBX market.

Key Market Drivers

The contributing factor to the growth of the Cloud PBX market is the cost advantage in the overall upfront cost

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Global Cloud PBX Market segments

The Cloud PBX Market analysis is segmented into services, organization size, end-users, and region. The Service Type segment is sub-segmented into Managed Services, Professional Services, Network Services, IT, and Cloud Services. The Organization Size segment is sub-segmented into Small and Medium Enterprises (SMEs) and Large Enterprises.

The End-User segment is sub-segmented into Real Estate, BFSI, Healthcare, Government, Retail, and Other. The region segment is sub-segmented into Asia-Pacific, Americas, Europe, and Rest of the World.

Regional Analysis of the Global Cloud PBX Market

North America dominates the global cloud PBX market. The largest market share is attributed to leading providers of cloud telephony solutions and services and a well-established IT infrastructure, delivering seamless business applications and services.

Also, the increasing adoption of cloud-based IT services among many organizations positively influences the growth of the market. In addition, heavy investments made by major industry players and mobile service providers fuel the growth of the regional market. The United States, Canada and Mexico are the main cloud PBX markets in the region.

Europe is another fast growing market for cloud PBXs on the global platform. Market players in the region are looking for innovative and highly experienced telecom service operators with modern sales and marketing approaches and automated processes to lead their operations across the region. Suppliers can help them to enter other European markets faster, making the transaction beneficial for all parties involved.

Such a powerful combination of partners and online sales can not only lead to strong B2B growth, but can also significantly speed up your internationalization process. They also strive to gain access to a portfolio of products that can position them as innovation leaders in the local and regional markets of today and tomorrow. In addition, shareholders are looking for strategic partners to accelerate impressive growth.

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Competitive Analysis of the Cloud PBX Market

The highly competitive Cloud PBX market appears fragmented due to the competitive landscape made up of many notable players and new entrants. Product launch, deal and association, mergers and acquisitions, and expansion are the key strategic initiatives mapped out from recent in-market proceedings.

Leading cloud PBX providers are looking for unified communications platform developers to partner with to develop solutions suitable for telcos and enterprises. What Thus, the collaborations allow them to better serve Internet and Telecommunications Service Providers (ISPs), simplifying their electric phone communications.

For example, on October 25, 2022, Dstny, a leading European-wide business communications provider, and EasyBall, a cloud communications challenger that provides VoIP telephony and cloud PBX to B2B customers in Germany to achieve coverage paneuropean. The acquisition of this cloud-native company is crucial to Dstny’s growth strategy by adding a new country and new capabilities to the group.

In another case, on October 6, 2022, InteractiveTel, a leading provider of AI-powered communications services and customer interaction analytics, announced the acquisition of TruMobility, a leading provider of enterprise VoIP services, to Expand your reach of customer interaction and communications hub. in the automotive industry. TruMobility offers bundled and integrated hosted VoIP to small business customers.

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InteractiveTel has acquired TruMobility’s customer base, giving them access to its industry-leading platform and solutions, TotalCX customer experience intelligence and SenseiCX call performance training solution. It also acquired TruMobility’s contract with a leading data center in Seattle, another expansion point for West Coast coverage. Growing its customer base is part of InteractiveTel’s growth strategy and plans to improve the customer experience and change consumer perception in the automotive industry.

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About the future of market research:

Market Research Future (MRFR) is a global market research company that prides itself on its services, offering complete and accurate analysis on various markets and consumers around the world. Market Research Future has the distinguished goal of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users and market players for global, regional and national market segments, enable our clients to see more, know more and do more, helping to answer your most important questions. questions.

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