Cloud PBX Market Size to Reach USD 68.4 Billion, With a CAGR of 21.43% by 2030 – Report by Market Research Future (MRFR)

Market Research Future Insights

According to MRFR analysis, the Cloud PBX Market is expected to register a CAGR of 21.43% from 2020 to 2030 and hold a value of over USD 68.4 billion by 2030.

Cloud PBX (Private Branch Exchange) market refers to the industry that provides cloud-based phone systems for businesses to handle their internal and external phone calls. A Cloud PBX system is a virtual telephone network that allows companies to manage their communication services and telephone extensions through the internet. The Cloud PBX market offers businesses a cost-effective and scalable solution to manage their voice communication needs without the need for on-premise hardware and maintenance.

The COVID-19 pandemic had a significant impact on the Cloud PBX market. With businesses forced to adapt to remote work and virtual collaboration, the demand of remote work becoming the new normal, businesses require communication solutions that can support their remote workforce. The Cloud PBX market has seen a surge in demand as businesses look for reliable and scalable cloud-based communication solutions.

The pandemic has accelerated the adoption of Cloud PBX as businesses seek to replace legacy phone systems with more flexible and cost-effective cloud-based alternatives.

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Key Players

Some of the key market players 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)

Cloud PBX Market Report Scope:

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Market Segmentation

The Cloud PBX Market has been segmented into service and end-user.

Based on the service, the market has been segmented into managed, professional and IT and cloud.

Based on the end-user, the market has been segmented into BFSI, retail, healthcare and government.

Regional Analysis

North America is currently the largest region in the Cloud PBX market, followed by Europe and the Asia Pacific. North America holds the largest share of the Cloud PBX market due to the high adoption rate of advanced communication technologies and the presence of key Cloud PBX vendors in the region.

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The United States is the largest market in the region, and it is expected to continue leading the market due to the increasing adoption of cloud-based solutions and the trend towards remote work.

Europe is the second-largest region in the Cloud PBX market due to the presence of established telecom infrastructure and the increasing demand for cloud-based communication solutions in the region.

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