The global cloud-based PBX market share is expected to increase by USD 23.89 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 17.85%.
This global cloud-based PBX market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers global cloud-based PBX market segmentations by end-user (large enterprises and SMEs) and geography (APAC, North America, Europe, MEA, and South America). The global cloud-based PBX market report also offers information on several market vendors, including Avaya Holdings Corp., Cisco Systems Inc., Fusion Connect Inc., LogMeIn Inc., Microsoft Corp., NEC Corp., Nextiva Inc., Panasonic Corp., RingCentral Inc., and Vonage Holdings Corp. among others.
What will the Global Cloud-based PBX Market Size be During the Forecast Period?
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Global Cloud-based PBX Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The implementation of cloud-based PBX reduces TCO is notably driving the global cloud-based PBX market growth, although factors such as signaling issues may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the global cloud-based PBX industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Global Cloud-based PBX Market Driver
The implementation of cloud-based PBX reduces TCO is one of the key factors driving the growth of the global cloud-based PBX market. The cloud-based PBX enables data traffic and voice communication traffic integration into a single network to reduce the total cost of ownership (TCO) associated with a combined voice or data network. The integration of multiple media types such as voice, data, and video into a single network eliminates infrastructure and maintenance redundancies, which also reduce capital and operational costs. Moreover, cloud-based PBX solutions are flexible in terms of the deployment model as these solutions are available in three deployment models, namely public cloud, private cloud, and hybrid cloud. This allows clients to use their cloud-based infrastructure as per their business requirements. The key benefit of adopting cloud-based PBX services is the pay-per-use pricing model in which clients can pay for what they use. End-users can select from a range of cloud-based PBX services based on their IT budget and business requirements. There is no fixed upfront cost (in contrast to the on-premises model), which makes cloud-based PBX attractive for end-users. Hence, the demand for cloud-based PBX is expected to increase during the forecast period.
Key Global Cloud-based PBX Market Trend
The convergence of VoIP, PBX, and UC for effective communication will fuel the global cloud-based PBX market growth. The convergence of fixed and mobile networks acts as a positive driver for the introduction of VoIP PBX. By migrating voice services to IP on both fixed and mobile networks, VoIP players introduce differentiated and potentially high-value services that combine fixed and mobile voice, data services, and content. These services would ultimately be available on any network or device. France Telecom or Orange, Deutsche Telecom or T-Mobile, TeliaSonera, and Telecom Italia or TIM, Wind in Italy, NTL, or Virgin Mobile in the UK are a few of the examples of dual network operators. Moreover, VoIP PBX component assimilates IP communications, associated products, and applications into a unified system. VoIP PBX creates a strong, unified communications system that accommodates immediate business requirements and adjusts to the needs as they transform and grow. Above factors will increase the market demand during the forecast period.
Key Global Cloud-based PBX Market Challenge
The high cost of dental implants and implant procedures is a major challenge for the global cloud-based PBX market growth. Initiating an interactive communication session between the users using a controlled signaling technique is a challenging task. Two standards have emerged: H.323 and SIP for the signaling and monitoring of VoIP, and they provide similar signaling functionality. However, these protocols do not provide support for QoS guarantees and resource reservations. The adoption of cloud-based PBX has been affecting bandwidth limitations. Service providers mostly offer bandwidth, depending on the requirements of enterprises. Unlimited bandwidth will increase the cost associated with data transfer. Enterprises are, therefore, needed to decide on their bandwidth requirements after carefully assessing their data volume and business needs. The selection of a vendor that offers cloud-based PBX solutions has become essential for organizations. Hence, it can have a negative impact on enterprises registering unstable growth in call traffic, thereby challenging the growth of the cloud-based PBX market during the forecast period.
This global cloud-based PBX market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Parent Market Analysis
Technavio categorizes the global cloud-based PBX market as a part of the global information technology (IT) spending market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the global cloud-based PBX market during the forecast period.
Who are the Major Global Cloud-based PBX Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Avaya Holdings Corp.
- Cisco Systems Inc.
- Fusion Connect Inc.
- LogMeIn Inc.
- Microsoft Corp.
- NEC Corp.
- Nextiva Inc.
- Panasonic Corp.
- RingCentral Inc.
- Vonage Holdings Corp.
This statistical study of the global cloud-based PBX market encompasses successful business strategies deployed by the key vendors. The global cloud-based PBX market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Avaya Holdings Corp. - The company offers cloud-based PBX in which it includes multiple devices on a single number and switch easily from desk phone to mobile phone.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The global cloud-based PBX market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Global Cloud-based PBX Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the global cloud-based PBX market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
Which are the Key Regions for the Global Cloud-based PBX Market?
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34% of the market’s growth will originate from North America during the forecast period. The US is the key market for global cloud-based PBX in North America. Market growth in this region will be faster than the growth of the market in regions.
The implementation of cloud-based PBX reduces TCO will facilitate the global cloud-based PBX market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in the region, especially in the US, impacted various businesses. It led to the shutdown of several IT companies and industries to limit the spread of the disease. However, the demand for cloud-based PBX is expected to rise, as workplaces have become decentralized and enterprises are adopting technologies that have increased complexities. These operational activities are leveraging the demand for cloud computing and cloud-based technology, thereby enhancing the demand for cloud-based PBX for call recording, call analytics, software integrations, and call routing. Such factors are driving the growth of the regional market during the forecast period.
What are the Revenue-generating End-user Segments in the Global Cloud-based PBX Market?
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The global cloud-based PBX market share growth by the large enterprises segment will be significant during the forecast period. Several vendors operating in the market are entering into contracts with large enterprises for providing cloud-based communication systems. For instance, in February 2019, RingCentral signed an agreement with the Columbia University to develop a cloud communication platform to support 44,000 faculties and students. Such an increase in the number of contracts is one of the factors influencing the growth of the market in focus during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the global cloud-based PBX market size and actionable market insights on post COVID-19 impact on each segment.
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Global Cloud-based PBX Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2019 |
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Forecast period |
2020-2024 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 17.85% |
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Market growth 2020-2024 |
$ 23.89 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
16.52 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 34% |
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Key consumer countries |
US, UK, China, Japan, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Avaya Holdings Corp., Cisco Systems Inc., Fusion Connect Inc., LogMeIn Inc., Microsoft Corp., NEC Corp., Nextiva Inc., Panasonic Corp., RingCentral Inc., and Vonage Holdings Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Global Cloud-based PBX Market Report?
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive global cloud-based PBX market growth during the next five years
- Precise estimation of the global cloud-based PBX market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the global cloud-based PBX industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of global cloud-based PBX market vendors
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