Cloud PBX Market - Introduction
- Cloud PBX is an advanced business phone solution hosted on servers and powered over the internet for off-site data centers. A cloud PBX solution offers more advanced features as compared to traditional PBX used in businesses, while enabling a non-technical office administrator to easily set up systems on the server.
- Companies use EPBX and IPPBX to manage analog and IP based concurrent calls in an enterprise. Enterprises are shifted to IP telephony solutions to provide a more reliable platform to employees to communicate.
- Companies are investing in telecom equipment such as PBX, switches, access points, and other telecom equipment to improve the service quality of communication
- Adoption of cloud technology and IP based technology in enterprise communication helps to reduce the yearly expenditure on telecom systems. Telecom service providers offer managed cloud PBX services for enterprises to manage the concurrent calls in enterprises or in call centers.
- A cloud PBX system also known as hosted PBX service is majorly adopted by customer care service providers, BPO, KPO, and other service sector industries. Cloud PBX solutions offer call recording, virtual attendant, call queues, and automated call distribution services. A cloud PBX is a highly cost effective solution which allows businesses to reduce in-house installation charges, which is expected to increase the demand for cloud based solutions in enterprises.
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Key Drivers of the Cloud PBX Market
- Rising adoption of cloud PBX solutions in IT companies and service sectors in order to enhance their productivity is expected to drive the cloud PBX market
- Solution providers are offering scalability in cloud PBX solutions that enables companies to increase the employee size at any time without investing in any hardware system, which is expected to boost the cloud PBX market
- Investors are collaborating with cloud based enterprise solution companies to consolidate their position in the market and provide advanced solutions in cloud PBX services. This is expected to offer significant opportunities to solution providers of cloud PBX.
Integration issues with customer relationship management (CRM) systems of enterprises expected to hinder the growth of the cloud PBX market
- Solution providers are facing integration issues with customer relationship management (CRM) systems of enterprises to deliver cloud PBX services, which is a key factor that restrains the cloud PBX market
- Technological advancements in cloud PBX is a threat to security and privacy due to increased cyber-attacks. This is also expected to hamper the cloud PBX market.
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Impact of COVID-19 on the Global Cloud PBX Market
- Companies are mostly adopting cloud based platforms to run their global businesses due to the increasing impact of COVID-19. Call centers and services sectors are also adopting the work from home module to provide support services. Companies are increasing the adoption of cloud PBX solutions during the COVID-19 period to manage all calls and important information over the communication channels.
- Companies are adopting digitalization in the service and IT industry due to the lockdown measures and to provide user-friendly and more reliable platforms to manage their daily corporate calls and meetings. The ever-increasing threat of COVID-19 is projected to boost the demand for cloud PBX solutions during the forecast period.
North America to Hold Major Share of the Global Cloud PBX Market
- North America holds a prominent share of the global cloud PBX market due to increasing adoption of cloud based platform communication services and VoIP services to enhance the quality of communications.
- Increase in demand for cloud PBX among insurance companies, service sectors, customer care services, and consumer electronics across North America is likely to offer significant opportunities to major players
- The cloud PBX market in Asia Pacific is expected to be the fastest growing during the forecast period due to increasing investment by major players to provide solutions across the region and also due to the growing number of technical support and call center support companies in Asia Pacific.
Key Players Operating in the Global Cloud PBX Market
- Avaya Inc.
Avaya Inc. is a global provider of cloud services and unified communication solutions in voice and video for enterprises. The company offers networking products and contact center solutions across the globe. It operates its global business under global communication solution, Avaya networking, and Avaya global services segments and provides cloud enablement products for IT Infrastructure. Avaya Inc. offers voice and video solutions for all industries and also offers supporting accessories in unified communication solutions.
- 8x8, Inc.
8x8, Inc. is a leading global company engaged in the development and marketing of telecommunication services for web-based conferencing, UC, Internet Protocol, video applications, and telephony. It also offers cloud-based computing solutions and 8x8 virtual contact center services. The company’s unified solution provides key benefits such as a comprehensive UC SaaS suite and rapid cloud provisioning. 8x8, Inc. offers diverse business solutions including cloud PBX, business phones, and virtual office apps
Other key players operating in the global cloud PBX market include Cisco Systems, Inc., AT&T Inc., BT Group plc., Mitel Networks Corporation, Polycom, Inc., Comcast Business, RingCentral, CenturyLink, Inc., TPx Communications, and Exotel Techcom Pvt. Ltd..
Global Cloud PBX Market: Research Scope
Global Cloud PBX Market, by Services
- Virtual Deployment and Setup
- Virtual Assistance and Support
- Network Traffic Management
- Compliance Management Services
- Bandwidth Management and Optimization
Global Cloud PBX Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Cloud PBX Market, by Industry
- Government and Public Sector
Global Cloud PBX Market Segmentation, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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