Hosted PBX Market Technological Innovations and Future Opportunities 2027

Hosted PBX Market Technological Innovations and Future Opportunities 2027

The research report on hosted PBX market, in substance, presents an exclusive understanding of the vast expanse of the business space in question. The report comprises a gist of the industry by means of providing an executive summary, industry insights, industry ecosystem analysis, market segmentation, and global trends. Furthermore, the study also provides deliverables pertaining to the regulatory and competitive landscapes and the strategic perspectives of various industry contenders with respect to the market.

As several companies across the globe are transitioning from traditional communication systems to cloud-based phone systems, they are increasingly deploying hosted Private Branch Exchange (PBX) systems. This is likely to augment the business space of hosted PBX market in coming years.

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Based on the component bifurcation, security service segment across hosted PBX market is projected to witness an appreciable CAGR of 9% through 2027 considering the increased application of hosted PBX across several industry verticals primarily due to the integration and scalable advantages associated with these systems. As these systems are based on internet, they raise security concerns for enterprises which instigates the adoption of security services for protecting hosted PBX systems. Therefore, various companies are tapping security service providers for ensuring optimum security across infrastructure.

In terms of organization, large enterprises are showing burgeoning demand for hosted PBX solutions. In wake of the current COVID-19 pandemic situation, various enterprises are deploying effective communication systems to establish effective collaboration with company workforce. As a result, these enterprises are adopting hosted PBX systems in order to enhance remote communications such as email delivery, video conferencing, voicemail, etc.

Based on industry vertical, healthcare segment is expected to register substantial gains over the upcoming years owing to increased adoption of hosted PBX solutions across healthcare enterprises. This can be attributed to advanced functionalities such as redundant communication connections, HIPPA compliance for call records, etc. Besides, hosted PBX helps healthcare enterprises to establish secured connections to diverse locations and sites by using MPLS. In addition, it reduces maintenance and communication costs, allowing resilient infrastructure across hospital settings.

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Regionally, hosted PBX market across Europe is expected to grow significantly over the ensuing years owing to increasing inclination towards digitization among large number of public and private enterprises along with expanding wireless communication infrastructure in the region. According to the report, Europe market is estimated to secure a market share of more than 20% by 2027.

Key industry players operating in Hosted PBX market such as 8x8, Inc., Avaya Holdings Inc., AT&T Inc., Cisco Systems Inc., CenturyLink, etc. are focusing on developing advanced hosted PBX solutions that will open new growth avenues for the industry.

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