Cloud PBX Market Size, Share, Development Status, Business Strategy, Key Vendors, Sales Revenue, Regional Trends and Opportunity Assessment by 2023

Market Research Future published a research report on “Global Cloud for PBX Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Pune, India - November 13, 2018 /MarketersMedia/ —

Market Highlights

The study reveals that Cloud for PBX is trending in North America region. The Cloud for PBX market is driven by the innovation and IP technology advancements in communication system services to make more advanced and cost effective systems. A recent trend in smart technologies is boosting the Cloud for PBX market.

The study signifies that the increasing demand of internet based Audio, Video & Voice service is a key driver for Cloud PBX Market. The study also reveals that a trend of high adoption of Cloud for PBX and growing demand of 5G technology will boost the communication services market in future. The study reveals that the low costs as compared to other Analog PBX system results in the advantage to the Cloud for PBX market.

The Cloud for PBX market is growing rapidly over 13.2% of CAGR and is expected to reach at USD ~$20.83 billion by the end of forecast period.

Key Players

The prominent players in the Cloud for PBX Market are – Microsoft Corporation(Skype) (U.S), Nextiva Inc.(U.S), RingCentral Inc.(U.S), , Avaya Inc.(U.S), Barracuda Networks Inc. (CudaTel) (U.S), , Vonage America Inc.(U.S), Cisco system Inc.(U.S), D-Link System Inc. (Taiwan), Allworx Corporations (U.S), BullsEye Telecom Inc (U.S), Mitel Networks Inc. (Canada), MegaPath Inc.(U.S), NEC Corporation (Japan) and Panasonic Corporation (Japan) among others

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Industry/ Innovation/ Related News:

September 24, 2018 - Yeastar (China), a leading provider of cloud-based and on-premises VoIP PBX, announced the official release of its new Linkus Unified Communications Application, adding UC&C capabilities to its S-Series VoIP PBX and Cloud PBX through both Windows desktops and iOS&Android smartphones. The release will allow business professionals to work smarter with Presence, Instant Messaging, CRM integration and other advanced call handling features, with higher employee engagement and greater productivity.

Global Cloud PBX Market – Segments

The global cloud PBX market is segmented into four key dynamics for the convenience of the report;

• By services: Managed, Professional, Network, IT & Cloud among others.
• By Organization Size: SME, and large enterprises.
• By End-users: BFSI, Retail, Healthcare, Government, and Real Estate among others.
• By Regions: North America, Europe, APAC and the Rest-of-the-World.

The subsegment large enterprises is dominating the market by organization size. The segment is estimated to reach USD 3,699.61 Mn. by 2023 with a whopping CAGR of 23.65% from 2017 to 2023.

The subsegment professional service is leading the market of Cloud PBX by services. The segment acquired 28% of the total market share, in the year 2017.

The subsegment Healthcare dominated the market of Cloud PBX, by End-users in the year 2017.

Global Cloud PBX Market – Regional Analysis

The North American region accounted for the leading market for the cloud PBX, globally, acquiring the largest as in 40.80% of the market share, and evaluating at USD 604.04 Mn. in the year 2017. Furthermore, owing to the factors such as the high adoption of cloud technology, the presence of large IT market, and well-developed cloud data centers, the region is expected to account for a significant monetarily growth by 2023.

The European region has acquired the next largest market share in the global cloud PBX market. The resurging economy in the region is undoubtedly contributing to the market growth significantly, augmenting the uptake of this Cloud PBX across the region. Attributing to the increased adoption of cloud technology and significant technological advancements alongside the increasing number of SMEs in the region, the Europe cloud PBX market is expected to grow at a strong CAGR from 2017 to 2023.

The Asia Pacific region is emerging as one of the lucrative markets for the cloud PBX, globally. The separation of services from hardware by cloud PBX is fostering the market in the region. Moreover, factors such as increasing urbanization & growing healthcare sector coupled with the improving economy in the region, foster the market growth.

China dominated the market of Cloud PBX in the Asia Pacific region with 24.09% of the market share, valuing at USD 53.21 Mn. in the year 2017. The Asia-Pacific market for Cloud PBX is expected to grow at a considerable CAGR (2017-2023).

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Intended Audience

• System Security
• Software investors
• Cloud for PBX solution vendors
• Cloud for PBX Providers
• IP Data providers
• Internet Service providers
• Value-added Resellers
• System Governance
• Distributers
• Investors and Venture Capitalist
• Cloud based PBX Service Provider
• Cloud for PBX Agencies
• Technology Integrators
• Research/Consultancy firms

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Contact Info:
Name: Abhishek Sawant
Organization: Market Research Future

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Release ID: 442211