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Hosted private branch exchange (PBX) also referred to as virtual PBX, allows businesses to use sophisticated telephone systems without investing in the telecom equipment. The call platform is hosted at the service provider’s location. The subscribers connect via IP to the service provider for voice service. It is a cloud-based system that can be accessed via an IP network. As all services are hosted in the cloud operating costs are reduced. The service provider takes care of the hardware, software and necessary maintenance. Hosted PBX allows employees to work from home or their cellphones and still be connected to the office telephone system. Call routing and switching is handled by service providers at their own location. Such systems can function over public switched telephone networks (PSTN) and VoIP. Like a regular telephone system, calls can be transferred or put on hold, conference calls can be set up and the phone can be answered by an automated attendant who can route callers to different departments in an organization. As per business requirements, ranging from a single user at an office to multiple users scattered across different continents, necessary solutions can be provided by hosted PBX service providers. 

Infrastructure costs have direct impact on profitability of companies. The key growth driver for hosted PBX market is the significant cost savings in telecom infrastructure it offers to companies. Also, as the office phone system is virtual, location constraints are eliminated. Businesses are increasingly going global and hosted PBX makes it possible for them to establish a virtual presence at locations where they do not have a physical presence. Thus, increasing number of companies are opting for these services. Traditional phone systems are also limited by the number of users they can handle.

Virtual systems can expand to accommodate growing needs of a business. With intuitive web interfaces which anybody can manage and monitor, hosted PBX system is more user friendly than traditional telephone system. The multiple security layers and failover technology offered by service providers is further likely to fuel the growth of hosted PBX technology. However, as voice quality and connections depend on Internet service, any disruptions in Internet results in loss of phone service. Furthermore, the unfamiliarity of hosted PBX users with VoIP technology and support issues from service providers pose challenges in the growth of hosted PBX market.

The hosted PBX market can be categorized in terms of organization size, end-users, and services. On the basis of organization size the market can be categorized into small and medium-size enterprises (SMEs) and large organizations. On the basis of end-users, the market can be classified into financial services, health care, retail, education, manufacturing, real estate, professional services and others. Also, on the basis of services, the market is categorized into network services, managed services, security services, unified communications and cloud & IT services.

The major companies in the hosted PBX market include XO Communications, LLC, VirtualPBX.com, Inc., Jive Canada, RingCentral, Inc., Digium, Inc., 8x8, Inc., Intermedia.net,Inc., TelePacific Communications, 3CX, Megapath, Engin, Bullseye Telecom, Nextiva, Vonage, Mitel Networks Corporation and ShoreTel Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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