Hosted PBX Market

Hosted PBX Industry worth $24.9 billion by 2028

According to a research report "Hosted PBX Market by Offering (Solution and Services), Application (Unified Communication & Collaboration, Mobility, Contact Center), Vertical (BFSI, Retail & eCommerce, Manufacturing, Healthcare & Life Sciences) and Region - Global forecast to 2028" published by MarketsandMarkets, the hosted PBX market is estimated at USD 11.5 billion in 2023 to USD 24.9 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 16.8%. The integration of artificial intelligence (AI) features within hosted PBX systems has emerged as a pivotal driver fueling the growth of the market. hosted PBX providers have strategically incorporated AI functionalities, including virtual assistants, chatbots, and predictive analytics, to revolutionize communication efficiency and enhance the overall user experience. These AI-driven capabilities contribute significantly to the automation of routine tasks, streamlining communication processes and boosting operational efficiency for businesses. Virtual assistants and chatbots facilitate seamless interactions, enabling users to access information and perform tasks with greater ease. Predictive analytics, on the other hand, empowers businesses with data-driven insights into communication patterns, allowing for proactive decision-making. As organizations increasingly prioritize intelligent, automated solutions, the incorporation of AI within hosted PBX systems not only elevates the quality of communication services but also positions these solutions at the forefront of technological innovation, thereby driving the sustained expansion of the hosted PBX market.

Browse 259 market data Tables and 44 Figures spread through 262 Pages and in-depth TOC on "Hosted PBX Market by Offering (Solution and Services), Application (Unified Communication & Collaboration, Mobility, Contact Center), Vertical (BFSI, Retail & eCommerce, Manufacturing, Healthcare & Life Sciences) and Region - Global forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/hosted-pbx-market-103518953.html

“Based on Services, the managed services segment to hold the largest market size during the forecast period.”

An instrumental driver within the Hosted PBX market is the provision of Managed Services, offering businesses invaluable access to specialized technical support teams. These teams are equipped with profound expertise in the intricate workings of the system, ensuring swift and effective issue resolution. The availability of dedicated support ensures that businesses leveraging Hosted PBX Managed Services benefit from comprehensive assistance tailored to the specific nuances of their communication infrastructure. This strategic emphasis on expert support serves as a catalyst for the adoption of Managed Services in the Hosted PBX market, assuring businesses of responsive assistance and contributing to the overall reliability and user satisfaction of their communication systems.

“By Offering, Services segment is expected to hold a higher growth rate during the forecast period.”

The services segment, particularly the emphasis on comprehensive training programs and onboarding services, stands as a pivotal driver in propelling the growth of the hosted PBX market. A seamless integration process becomes paramount as businesses transition to cloud-based communication solutions. Professional services that offer tailored training programs ensure that users quickly adapt to the newly hosted PBX system, minimizing disruptions and maximizing the platform's potential. This commitment to user education reduces the learning curve and enhances overall user satisfaction and productivity. As a result, businesses can efficiently harness the full capabilities of hosted PBX, leading to widespread adoption and market expansion. The focus on user-centric services underscores the industry's commitment to providing technology and a comprehensive solution that empowers businesses to leverage advanced communication tools with confidence and proficiency.

“Asia Pacific is expected to hold a higher growth rate during the forecast period.”

The surge in hosted PBX adoption across governmental entities in the Asia Pacific region, spanning local, state, and central administrations, emerges as a compelling catalyst propelling market growth. Faced with the need to bolster communication capabilities within budgetary constraints, government institutions in the Asia Pacific are increasingly turning to hosted PBX solutions for their cost-effectiveness and scalability. hosted PBX offers an economically feasible option by eliminating significant upfront investments in on-premises hardware and seamlessly aligns with the dynamic requirements of administrative processes within government bodies. The scalability inherent in hosted PBX systems allows governmental organizations in the Asia Pacific to adapt their communication resources flexibly, ensuring optimal efficiency and responsiveness to evolving needs. This trend of modernization is underscored by the acknowledgment that hosted PBX not only provides a practical solution to financial constraints but also empowers government agencies to streamline communication workflows, foster collaboration, and ultimately elevate the delivery of public services to citizens across the diverse landscape of the Asia Pacific region. As governmental bodies increasingly prioritize digital transformation, hosted PBX solutions emerge as foundational elements, enabling effective navigation of the evolving terrain of administrative communication.

Market Players

The major vendors covered in the hosted PBX market are AT&T (US), Verizon Communications (US), Cisco Systems (US), BT Group (US), RingCentral (US), Comcast Corporation (US), 8x8 (US), Sangoma Technologies (US), Lumen Technologies (US), Nextiva (US), Fusion Connect (US), Avaya (US), Mitel Networks (US), Lingo Telecom (US), TPx Communications (US), Telesystem (US), Ozonotel Communications (India), OneConnect (US), InterGlobe Communications (US), CloudTalk (US), Datavo (US), Nexge Technologies (US), NovoLink Communications (US), 3CX (Cpryus), AstraQom International (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the hosted PBX market.

Don’t miss out on business opportunities in Hosted PBX Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Hosted PBX Market Size,  Share & Growth Report
Report Code
TC 6141
PR Published ON
12/18/2023
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Hosted PBX Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status
...

Digital Virtual Assistant - MarketsandMarkets

Home