Global Hosted Private Branch Exchange Market By Type (Services - Virtual Deployment, Setup, Configuration & Change Management, Network Traffic Management, Bandwidth Management & Optimization, Virtual Assistance & Support, Online Charging Services & Compliance Management, Protocol Management), Organization Size (Small & Medium, Large), Vertical (IT & Telecom, Government, BFSI, Manufacturing, Retail, Healthcare, Education)
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The Global Hosted Private Branch Exchange Market size is expected to reach $9.3 billion by 2023, rising at a market growth of 14.3% CAGR during the forecast period. The traditional PBX, or Private Branch Exchange, requires significant investment and ongoing maintenance and training. A hosted PBX on the other hand is a cloud-based PBX system, which is accessible via an IP network with no worries of hardware, software, training, maintenance, and more. A user-friendly control panel is offered to manage the entire telephony infrastructure, providing agility and flexibility of service. The aforementioned reasons have led to the popularity of PBX systems and are considered as viable solutions for growing small to medium-sized businesses. Concerns related to security and privacy would be a factor that would limit the growth of hosted PBX market. However, recent developments, new product launches, and acquisitions would open fresh opportunities to the market participants, and as a result, driving the market growth.
Global Hosted Private Branch Exchange Market Size
Based on Type, the Hosted Private Branch Exchange market segments the market into Services and Solution. Services Type includes Virtual Deployment, Setup, Configuration & Change Management; Network Traffic Management, Bandwidth Management & Optimization; Virtual Assistance & Support, Online Charging Services & Compliance Management Services, Protocol Management Services, and Others. Based on Organization Size, the market report segments the market into Small & Medium Enterprises and Large Enterprises. Based on Vertical, the market report segments the market into IT & Telecom, Government, BFSI, Manufacturing, Retail, Healthcare, Education, and Others. Based on Regions, the Hosted Private Branch Exchange market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Global Hosted Private Branch Exchange Market Share
The market research report covers the analysis of key stake holders of the Global Hosted Private Branch Exchange Market. Key companies profiled in the report include AT&T, Inc., Cisco Systems, Inc., 8x8, Inc., BT Group, Avaya, MegaPath, CenturyLINK Technology Solutions, Mitel Networks, Verizon Communications, Inc. (XO Communication), and TPX Communications.