Global Hosted PBX Market Insights Forecasts to 2032

• The Global Hosted PBX Market Size was Valued at USD 10.7 Billion in 2022.
• The Market Size is Growing at a CAGR of 15.7% from 2022 to 2032
• The Worldwide Hosted PBX Market Size is Expected to Reach USD 43.4 Billion by 2032
• Asia-Pacific is expected to Grow the fastest during the forecast period

 

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The Global Hosted PBX Market Size is Anticipated to Exceed USD 43.4 Billion by 2032, Growing at a CAGR of 15.7% from 2022 to 2032.

 

Factors driving the hosted PBX market include shifting focus towards enterprise mobility, cost-benefits over traditional PBX networks, and the increasing adoption of cloud-based unified communication is enhancing the demand for the global hosted PBX market.

 

Market Overview

Hosted PBX supports employees who are on the job, telecommuting, working from home, and utilizing their connection devices to connect to the office. These attributes, along with mobility and integrated communication, have the potential to propel the global hosted PBX market. The global hosted PBX market is expanding because hosted PBX is a dependable and suitable choice for businesses that need a centralized, dependable phone system without the inconveniences of on-site setup and maintenance expenses. Making, routing, and rerouting calls from an office phone and other compatible devices, such as laptops, iPads, desktop computers, and mobile phones, is possible with cloud-based telecommunication. With a hosted phone system, such as a hosted PBX, businesses can benefit from all the features of a phone system, including VoIP calls, emergency calls, intelligent call routing, unified conferencing and messaging, and on-demand applications like video and fax. It helps companies lower the installation, running, and maintenance expenses related to conventional PBX systems, resulting in centralized, dependable, and reasonably priced phone systems. Additionally, hosted PBX offers add-on features that eliminate the need for specialized hardware by enabling businesses to digitally scale or extend their phone lines or accounts via softphones. Growing demand to lower infrastructure costs is fueling the expansion of the hosted PBX market.

 

Report Coverage

This research report categorizes the market for the global hosted PBX market based on various segments and regions, forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global hosted PBX market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global hosted PBX market.

 

Driving Factors

The rate of hosted PBX usage has increased dramatically because of the growing acceptance of cloud computing. Users' use of hosted PBX has significantly expanded due to the cloud's additional compliance benefits in addition to its scalability. At the corporate level, there has been a sharp increase in demand for effective mobility. A hosted PBX mostly resolves this issue. It gives companies the capacity to control their phone networks through an intuitive control panel. Purchasing pricey gear and software, covering installation costs, and maintaining the system are not necessary with hosted PBX. A monthly price is all that is required for a user to access all the service's features. A hosted PBX can offer a bank with fewer than 300 lines a plethora of services and advantages. For example, the cost of a hosted PBX system is significantly lower than that of an on-site system.

 

Restraining Factors

The hosted PBX market is hampered by compatibility and interoperability problems, which make it difficult to integrate seamlessly with current enterprise systems. Many companies already use a variety of platforms for communication and collaboration; the difficulty is making sure hosted PBX solutions work well with these different systems. Compatibility problems can develop when many suppliers and technologies are used, adding complexity, and impeding the seamless operation of hosted PBX systems within larger IT infrastructures. These problems can be made worse by incompatibilities between hardware, software, or communication protocol versions, which makes it difficult for enterprises to establish an integrated and coherent communication environment. Compatibility and interoperability issues arise partly from the dynamic nature of technology and the absence of standard protocols among different communication systems. The widespread acceptance and successful implementation of hosted PBX systems will depend on resolving compatibility and interoperability challenges as enterprises look for unified and speedy communication solutions.

 

Market Segmentation

The Global Hosted PBX Market share is classified into component, organization, and end-user.

• The service segment is expected to grow at the fastest pace in the global hosted PBX market during the forecast period.

The hosted PBX market is categorized by service into solutions and services. Among these, the service segment is expected to grow at the fastest pace in the hosted PBX market during the forecast period. This is due to services becoming increasingly significant as suppliers offer their clients integrated service packages with IP telephony solutions. Furthermore, it provides an organization with safe, dependable phone service via an already installed Internet connection, as opposed to utilizing a privately managed call controller or server.

 

• The SMEs segment is expected to grow at the highest pace in the global hosted PBX market during the forecast period.

Based on the organization, the global hosted PBX market is divided into large enterprises, and SMEs. Among these, the SMEs segment is expected to grow at the highest pace in the hosted PBX market during the forecast period. SMEs usually lack the resources to support traditional PBX systems, as well as staff and IT department infrastructure. Consequently, businesses are more likely to employ hosted PBX systems to obtain access to innovative communication technology, save costs, and improve customer satisfaction. Hosted PBX systems also allow employees to work remotely while on the go, which is beneficial for SMEs that rely on mobile and remote staff. This allows them to maintain an elevated level of productivity and communication no matter where they are. Hosted PBX systems are extremely popular among SMEs without dedicated IT staff because they are simple to set up and manage.

 

The healthcare & life sciences segment is expected to hold the largest share of the global Hosted PBX market during the forecast period.

Based on the end-user, the global hosted PBX market is divided into healthcare & life sciences, BFSI, retail & eCommerce, and manufacturing. Among these, the healthcare & life sciences segment is expected to hold the largest share of the global hosted PBX market during the forecast period. This is because it is an essential task and requires smooth coordination between many stakeholders, such as patients, administrators, nurses, and doctors. Hosted PBX systems provide the features and capabilities required to enable effective and secure communication within healthcare organizations.

 

Regional Segment Analysis of the Global Hosted PBX Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is anticipated to hold the largest share of the global hosted PBX market over the predicted timeframe.

 

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North America is projected to hold the largest share of the global hosted PBX market over the predicted years. This is due to rising demand for enhanced features, scalability, cost savings, and cloud-based services. For example, the Federal Communications Commission (FCC) in the United States reports that the adoption of Hosted PBX has been rising significantly, with over 68% of enterprises employing VoIP (voice over internet protocol) technology. The FCC also points out that a substantial portion of this expansion is being driven by small and medium-sized enterprises, that are looking for adaptable and affordable communication solutions. According to official data, hosted PBX is expanding in popularity in North America and is predicted to do so in the years to come.

 

Asia-Pacific is expected to grow at the fastest pace in the global hosted PBX market during the forecast period. Small and medium-sized enterprises (SMEs) in developing nations like China and India are searching for affordable communication solutions to handle their remote workforces and open new markets. Furthermore, the demand for IP-based voice calling has increased in several countries, including Malaysia, Singapore, and Taiwan. Additionally, the region has seen a rise in the use of smartphones and a rise in the demand for international phone calls.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global hosted PBX along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• BullsEye Telecom
• Vonage America
• Nextiva
• D-Link System
• Allworx Corporations
• NEC Corporation
• RingCentral
• Panasonic Corporation
• Cisco system
• Barracuda Networks
• MegaPath
• Avaya
• Microsoft Corporation

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In October 2023, Microsoft introduced a new AI-powered feature for Teams, its cloud-based platform for collaboration, which includes insights into call and meeting statistics as well as real-time transcription. The features are designed to boost productivity and efficiency. They also work with Microsoft Viva, an employee experience platform, to offer more AI-powered functions. It is now possible to use the new features.

 

• In June 2021, apart from to several Avaya device-specific enhancements that facilitate easy migration, Avaya and RingCentral Inc. also announced a wide range of new features for the Avaya Cloud Office by RingCentral Unified Communications as a Service (UCaaS) solution. These features extend the ability for customers to connect across any device and work environment.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Hosted PBX Market based on the below-mentioned segments:

 

Global Hosted PBX Market, Component

• Solution
• Services

 

Global Hosted PBX Market, By Organization

• Large Enterprises
• SMEs

 

Global Hosted PBX Market, By End-user

• Healthcare & Life Sciences
• BFSI
• Retail & eCommerce
• Manufacturing

 

Global Hosted PBX Market, By Region

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• Uk
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia Pacific
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• UAE
• Saudi Arabia
• Qatar
• South Africa
• Rest of the Middle East & Africa