The hosted PBX market is gaining traction due to the critical necessity to upgrade from traditional PBX to cloud-based PBX. Furthermore, growing adoption of the cloud and UC, and an increasing need for enterprise mobility are also driving the growth of hosted PBX market. MarketsandMarkets forecasts the global hosted PBX market size to grow from USD 4.73 Billion in 2018 to USD 9.50 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period.
Major players in the hosted PBX market include Cisco Systems (US), AT&T (US), Avaya (US), BT Group (UK), Mitel Networks (Canada), 8x8 (US), Polycom (US), Comcast Business (US), MegaPath (US), CenturyLink (US), RingCentral (US), and XO Communications (US). The other players include Ozonetel (India), Nexge Technologies (India), BullsEye Telecom (US), TPx Communications (US), Telesystem (US), OneConnect (Canada), InterGlobe Communications (US), 3CX (Turkey), Star2Star Communications (US), Nextiva (US), NovoLink Communications (US), Datavo (US), and Digium (US). These leading players have adopted various growth strategies, such as partnerships, collaborations, agreements, mergers, acquisitions, and new product developments, to achieve growth in the hosted PBX market.
Cisco Systems is one of the leading players in the hosted PBX market. The company has adopted both organic and inorganic growth strategies to enhance its presence in the hosted PBX market. For instance, in 2018, Cisco Systems acquired BroadSoft, a leader in the UCaaS and Contact Center as a Service (CCaaS) space. This acquisition has enabled Cisco Systems to add industry-leading cloud calling and contact center solutions to its calling, meetings, messaging, customer care, hardware endpoints, and services portfolios.
Avaya, an established vendor in the hosted PBX market, has a strong presence across the Americas, Asia Pacific (APAC), and Europe, Middle East and Africa (EMEA). The company focuses on inorganic and organic growth strategies to tap opportunities in the hosted PBX market. For instance, in 2018, Avaya acquired Spoken Communications, a leading innovator of CCaaS solutions for enterprise customers and a provider of transformative real-time customer experience management applications. This acquisition has fueled Avaya’s growth in cloud solutions, with which users are able to gain access to Spoken Communications’ specialized agent quality software applications and services.
Hosted PBX Market by Solution, Service (Virtual Deployment & Setup, Virtual Assistance & Support, Online Charging Services, Emergency Call Routing Services, Protocol Management Services), Organization Size, Vertical, and Region - Global Forecast to 2023
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