The global cloud PBX market size is expected to reach US$ 68 billion by 2030 and is anticipated to grow at a CAGR of 14.1% over the forecast period of 2021 to 2030. Incompatible hardware and equipment, and data security concerns may restrain the growth of the cloud PBX market.
Major factors driving the global cloud PBX market are lower hardware/service costs, unlimited scalability, advanced calling features, voice quality, mobile integration, control over long-distance costs, etc.
The adoption of the cloud technology and the 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 handle concurrent calls in enterprises or in call 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. Organizations across the globe are investing in telecom equipment such as PBX, switches, access points, and other telecom equipment to improve the service quality of communication.
Key Growth Drivers
Reduced Total Cost of Ownership (TCO): A cloud PBX system helps reduce the total cost of ownership by bringing capital expenditure to minimal, as the system requires only the yearly fees of phones unlike an on-premise PBX solution, which needs a PBX server, annual maintenance, and in-house IT staff. There are numerous additional benefits apart from the quantifiable benefits of a cloud PBX solution that are hard to quantify such as freeing up staff time who would have been managing on-premise PBX, increased employee productivity, and improved customer satisfaction as they are able to reach an individual more quickly. Cloud PBX enhances employee productivity through a rich suite of easy?to?deploy communication capabilities. In addition, by paying monthly subscription charges, companies can convert their capital expenditure into operational expenditure. Cost savings through reduced phone and fax charges, eliminating PBX hardware requirements, and reducing administration costs are expected to boost the cloud PBX market.
Increasing demand for enterprise mobility and mobile workforce: The proliferation of mobile devices and the growing BYOD phenomenon have pushed the demand for cloud-based communication systems such as cloud PBX to serve today’s distributed and mobile workforces. On the other hand, the number of mobile workers is also increasing at a rapid pace. Cloud PBX provides employees the ability to work anywhere, at any time, from any device. According to the TMR analysis, globally, around 70% of employees use their personal device for email. Globally, around 26% of employees are productive while outside the office or home, and around 36% of employees are using more than two mobile devices to do their work.
North America is expected to reach cloud adoption of more than 50% in the global PBX market by the end of 2025. In the current market scenario, the average global cloud penetration in the PBX market is only around 20%; North America has penetration of more than 30%. This is due to the strong adoption levels of cloud-based technologies by small & medium enterprises in the region, and high focus on operational cost optimization.
The cloud PBX market in Asia Pacific is expected to grow at the highest rate, due to improving economic conditions and large population, which support technological developments and growth of IT industries. The cloud PBX market in Asia Pacific has entered a rapid expansion stage, as availability of diverse services increased across all countries, enriched service capabilities to serve different business needs of customers, and system integrators became competitive to already existing service providers. Moreover, there is a presence of local Internet service providers. China and India are expected to exhibit an incremental opportunity of US$ 4,173.6 Mn and 3,770.0 Mn, respectively. However, Rest of Asia Pacific is expected to register an opportunity of US$ 3,066 Mn, in terms of revenue. The cloud PBX market in Asia Pacific is estimated to expand significantly during the forecast period; however, dynamic regulations in several countries of the region are expected to hamper the market. South Korea, India, and Japan are the key contributing countries to the cloud PBX market in the region.
Furthermore, robust increase in both revenue and installed bases in China is a key contributing factor. Rise in communication standards of countries such as Vietnam, China, India, and Indonesia is regulated for voice revenue protection of local service providers. Regulations, such as restrictions in portability of number and the mandate to operate in-country data center restrain the global cloud PBX service providers in these countries, while local incumbents have not yet established their complete service competences.
The report provides in-depth segment analysis of the global cloud PBX market, thereby providing valuable insights at macro as well as micro levels. The analysis of major countries, which hold growth opportunities or account for significant share, has also been included as part of the geographic analysis of the cloud PBX market.
Key players operating in the global cloud PBX market include Allworx Corporations, AT&T, Inc., Avaya Inc., Barracuda Networks Inc., T Group, BullsEye Telecom Inc., Centurylink, Cisco System Inc., D-Link System Inc., MegaPath Inc., Microsoft Corporation, Mitel Networks Corporation, NEC Corporation, Nextiva Inc., Panasonic Corporation, Polycom, RingCentral Inc., VirtualPBX.com, Inc., and Vonage America Inc.
This report focuses on cloud PBX market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall cloud PBX market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global cloud PBX market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the cloud PBX market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the cloud PBX market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Cloud PBX market.
Market Segments: This part of the report discusses about product, application and other segments of the cloud PBX market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global cloud PBX market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the cloud PBX market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
Competitive Landscape and Market Share Analysis
The cloud PBX market competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, cloud PBX sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch. For the period 2017-2020, this study provides the cloud PBX sales, revenue and market share for each player covered in this report.
The research methodology adopted by analysts for compiling the global cloud PBX market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global cloud PBX market.
The study objectives of this report are: