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Virtual PBX Market By Component (Solution, Service), By Services (Bandwidth Management And Optimization, Compliance Management Services, Configuration And Change Management, Emergency Call Routing Services, Network Traffic Management, Online Charging Services, Virtual Deployment And Setup), By Enterprise Size (Large Enterprise, SMEs), By Application (Government, IT & Telecom, Manufacturing, Healthcare, Education, Retail, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

The Increasing Demand for Enterprise Mobility is Driving the Growth of the Virtual PBX Market

Globally, the Global virtual PBX market is expected to grow with a CAGR of 15.1% during the forecast period from 2019 to 2027. The increasing demand for enterprise mobility solutions is driving the need for a virtual PBX market. Furthermore, as the adoption of mobile devices among enterprises is rising and employees started using their own devices to access organization data, organizations are looking for new ways to establish a well-structured and maintained mobile infrastructure. Virtual PBX allows enterprises to invent their Network infrastructure and enhance employee collaboration, increasing business performance.

Moreover, it allows enterprises to develop a more sophisticated telephone system by eliminating the cost of ownership and creating a virtual network. The rising need among organizations to upgrade from the traditional PBX to cloud-based PBX is also a significant driver of the market's growth. Furthermore, the growing adoption of the telecom cloud is also driving market growth. However, the security issues associated with using the virtual PBX are inhibiting the market's growth. In addition, the rising concern about maintaining the quality of the service is also a major challenge among the market players.

Market Synopsis

Services are Estimated to Grow Significantly During the Forecast Period  

The virtual PBX market is characterized based on the component of solutions and services. Solutions accounted for more than 60% share of the revenue in 2018. The market growth is attributed to the changing market dynamics and wide-scale adoption of virtual infrastructure. On the other hand, the services market is estimated to increase significantly during the forecast period.

North America is Leading the Virtual PBX Market         

North America led the virtual PBX market with a market share of over 37% in 2018. The market's growth is driven by the large scale of investment in wireless technologies in the region. In addition, the growing adoption of advanced technology solutions such as IoT, cloud, and unified communication platforms is also a major driver of the market's growth. Besides, the rapid digitalization across the industries in the region is also supporting market growth.

The major players in the virtual PBX market are 8x8 Inc, 3CX Ltd, AT&T Inc, BT GROUP PLC, Avaya, Bullseye Telecom, Cisco Systems, CenturyLink Inc, Comcast Business Services, Digium, Datavo, Ozonetel Communications Pvt Ltd, Interglobe Communications, Mitel Networks Corporation, MegaPath, Nexge Technologies Ltd, NovoLink Communications Inc, Nextiva Inc, OneConnect Inc, and Polycom Inc.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The virtual PBX market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global virtual PBX market based on components, services, enterprise size, application, and geography.

Frequently Asked Questions:

The market for Virtual PBX is expected to reach XX Bn in 2027.

The Virtual PBX market is expected to see significant CAGR growth over the coming years, at 15.1%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

3CX Ltd, 8x8 Inc., AT&T Inc., Avaya, BT Group PLC, Bullseye Telecom, CenturyLink Inc., Cisco Systems, Comcast Business Services, Datavo, Digium, Interglobe Communication, MegaPath are some of the major players in the global market.

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Published Date:  Nov 2019
Category:  IT & Telecom
Report ID:   60071
Report Format:   PDF
Pages:   120
Rating:    4.2 (58)
Delivery Time: 24 Hours to 48 Hours   
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