Cloud PBX Market Expected to Grow with a 21.43% CAGR by 2030 – Report by Market Research Future (MRFR)

Simply defined, cloud PBX is a component of cloud computing. The issue now is: What exactly is cloud computing? Using the internet to store and retrieve data instead of a computer or other hard drive is known as “cloud computing.” The term “public branch exchange” is PBX. The technology that enables the telephone company to route calls is known as a PBX. The internet-based phone system, also known as the VoIP phone system, is simply a phone system-based technology when PBX and cloud are coupled.

Between 2020 and 2030, the market for cloud PBX is anticipated to increase at a compound annual growth rate of 21.43%.

The cost advantage in total upfront cost is a factor in the expansion of the cloud PBX industry. While removing the expense of phone lines, software, and hardware changes, the main cost element for cloud-based systems is the service fees. The most significant cost reductions for a cloud-based phone system over an on-site PBX are in the operations and administrative sectors.

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Live Streaming Market Report Scope:

Regional analysis:

North America, Europe, Asia Pacific, and the rest of the globe are the divisions of the cloud PBX market.

North America is one of the top regions that control the market, per the market study. It is because this area has a high rate of cloud technology adoption. The region of North America is anticipated to see the highest rate of growth from 2017 to 2023. With a market share of 40.80% in 2017 and a value of $604.04 million, North America is the market leader. Due to significant technical improvements and greater cloud use, the North American area is seeing tremendous expansion.

With a market share of 24.09% in the Asia-Pacific region’s cloud PBX market in 2017, China is the market leader. In 2017, the Asia Pacific cloud PBX market was estimated at USD 53.21 million.

Market segmentation:

Based on organization size, service, end users, and location, the global cloud PBX market is divided into the following categories.

The market is divided into managed services, professional services, network services, IT, and cloud services based on the kind of service provided. With a 28% market share in 2017, the professional service sector dominated the cloud PBX market.

According to the size of the company, the global cloud PBX market is segmented into small and medium-sized businesses (SMEs) and major corporations. By the end of 2023, the big enterprise sector, which currently dominates the market, is anticipated to reach a value of $3699.61 million. During the anticipated term, the expected cagr is 23.6 percent.

The market is divided into several different end-user categories, including real estate, BFSI, healthcare, government, and retail. In 2017, the cloud PBX market is dominated by the healthcare industry.

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By Service:

• managed
• professional
• network
• IT and cloud

By Organization Size:

• SME
• large enterprises

By End-user:

• BFSI
• retail
• healthcare
• government
• real estate

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Key players:

Skype, a product of Microsoft Corp. (U.S) Barracuda Networks Inc. (CudaTel), Nextiva Inc. (USA), RingCentral Inc. (USA), and Avaya Inc. (USA) (U.S) VocalTec Holdings Inc. (U.S) Companies like Cisco Systems (USA) and D-Link Systems (China) are doing well in the networking industry (Taiwan) Corporation Allworx (U.S) Mitel Networks Inc. and BullsEye Telecom Inc. (Canada)

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About Market Research Future (MRFR):

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.

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