The global cloud PBX market valued at US$ 5.07 Bn in 2018 and is expected to grow at a CAGR of 15.5% during the forecast period 2019 – 2027, to account to US$ 18.23 Bn by 2027.
The increasing demand for cloud technology, enhanced communication, UCaaS, and low-cost infrastructure maintenance are creating a significant demand for cloud PBX market. In a recent scenario, 5G is playing a major role in transforming the entire PBX ecosystem driven by more internet-connected devices directly impacting global cloud PBX market. The continuous development in infrastructure and improvement in cloud technology is expected to drive the cloud PBX market significantly.
The cloud PBX Market report is a complete overview of the market, covering various aspects product definition, segmentation based on various parameters, and the prevailing vendor landscape. The statistics are represented in graphical format for a clear understanding on facts and figures. The readers will find this report very helpful in understanding the cloud PBX market in depth.
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Leading Cloud PBX Market Players: 3CX, Inc., 8×8, Inc., AT&T Inc., Comcast Corporation, SORS Global, Avaya Inc., Voyced Ltd., Cisco Systems, Inc., Microsoft Corporation, RingCentral, Inc.
The reduced cost of operation is driving the adoption of cloud PBX
The cloud PBX has reformed and revolutionized the communication process in the business organizations by enabling access to various forms of communication (audio, video, text messaging) through an IP network. This communication technology offers myriad benefits over tradition PBX, but the cost-effectiveness provided by the cloud PBX over on-premise PBX is the primary factor, that has driven its demand in the past years and is expected to influence the cloud PBX market growth in the coming years.
Strategic Partnerships and Developments among the Cloud PBX Market Players in the Ecosystem is Fueling the Growth of Cloud PBX Market
Tier 1 and Tier 2 companies have prominent market share in the global Cloud PBX market. The service partners are also influencing the current market players operating in the Cloud PBX market to offer customized cloud PBX services with advanced features; thus Cloud PBX market players are increasingly focusing on partnerships and developments to expand its footprints.
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Many well-known, as well as third-party service providers, are present in the market to provide various types of customized services to its customers. The larger firms are adopting the strategy of acquiring and collaborating with various companies to enhance its capabilities and expand its footprint in different geographies.
Global Cloud PBX Market – By Enterprise Size
- Large Enterprises
Global Cloud PBX Market – By End-user
- Telecom & IT
Reason to Buy
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– Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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