Cloud PBX System Market is Estimated to Grow at a CAGR of ~14% during the forecast period 2020-2027

Cloud PBX System Market is anticipated to reach the value of US$ 68.3 Bn by 2027, expanding at a CAGR of ~14% during the forecast period. Increasing adoption of unified communications (UC) solutions among end users will boost the demand for cloud PBX. Most organizations are expected to increase cost-cutting measures, thus, preferring remote location work environments, resulting in high demand for cloud PBX.

The Worldwide Cloud PBX System Market is thoroughly inspected in the report. The Report highlights market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, player’s market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions.

Some well-established players in the Cloud PBX System market are – RingCentral, AVOXI, Bitrix, Freshworks, CloudTalk, Microsoft, 3CX, Jivosite, Monster VoIP, and Mitel Networks

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Further, the global Cloud PBX System market research includes the decisive analysis of the global Cloud PBX System market by classifying it on the basis of product type, application and Region segments. The development of every segment is assessed along with the forecast of their expansion in the near future. The pertinent facts and figures gathered from the regulatory authorities are presented in the global Cloud PBX System research report to review the expansion of each segment.

Market Segment By Product Type

Public Cloud
Private Cloud
Mixed Cloud

Market Segment By Applications

Small and Medium Enterprises (SMEs)
Large Enterprises

The report focuses on the main regions and the main countries including:

North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

Increase in Adoption of Cloud PBX across Emerging Markets :

In the year 2010, cloud PBX accounted for only 4% of the total PBX sales, whereas by the end of year 2019, the share of cloud PBX in global PBX increased to 18%. In 2019, the U.S. accounted for almost two-thirds of hosted PBX shipments.
Businesses with 11 to 50 employees accounted for the most significant percentage of 2019 hosted PBX sales. This small business segment is expected to remain dominant by the end of the forecast period.

Major factors driving the global cloud PBX market are lower hardware/service costs, unlimited scalability, advanced calling features, voice quality, mobile integration, control over long-distance costs, etc.

North America is expected to reach cloud adoption of more than 50% in the global PBX market by the end of 2025. In the current market scenario, the average global cloud penetration in the PBX market is only around 20%; North America has penetration of more than 30%.

Asia Pacific is expected to surpass the Europe by the end of the forecast period, as adoption of cloud-based technologies is projected to be the highest in the region

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Some of the questions that the report scrutinizes are:

Where does the Cloud PBX System market currently stand after Covid-19 led disruptions?
Which demographic segments will witness massive investments by businesses as winning plan of action?
Who are the major players of the Cloud PBX System market and what are their major contributions?
Which have been some recent technological developments that can widen the expanse of the Cloud PBX System market?
The COVID-19 pandemic has led to a dramatic acceleration in interest and adoption of cloud PBX. Cloud PBX is being associated with solving business challenges of clients such as limited business reach and low brand image. This is being achieved by providing interactive voice response (IVR) in platforms and the VoIP technology in systems. However, the transition of traditional phone systems toward cloud is being met with the hurdle of staff training and acceptance toward new technology. Hence, companies in the cloud PBX market should increase the availability of economical and easy-to-use cloud PBX platforms to convert more clients in cloud-based telephone systems.

On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Cloud PBX System market. The Report broadcasts comprehensive study of the Cloud PBX System market to anticipate the imminent expansion of the industry. Examining this Cloud PBX System report can act as a platform for users who intend to take advantage of each and every opportunity in the industry

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