The Hosted PBX Market is Predict to reach $34.4 Billion by 2030, at a CAGR of 17.2%
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Hosted PBX Market Growth, Trends and Report Highlights
According to a new report, published by KBV research, The Global Hosted PBX Market size is expected to reach $34.4 billion by 2030, rising at a market growth of 17.2% CAGR during the forecast period.
The Solution segment is registering a CAGR of 16.4 % during the forecast period. Hosted PBX solutions typically have faster deployment times compared to traditional on-premises systems. Businesses can quickly set up and configure their communication infrastructure, enabling them to adapt to changing business requirements with agility. For businesses with a global presence or multiple locations, hosted PBX solutions offer seamless communication across different offices. These factors will boost the demand in the segment.
The Unified Communication & Collaboration segment led the Global Hosted PBX Market by Application in 2022; thereby, achieving a market value of $14.2 billion by 2030. Unified communication and collaboration solutions often integrate various communication channels, such as voice, video, messaging, and collaboration tools, into a single platform. This integration enhances communication efficiency and productivity. Therefore, owing to these factors, the segment will grow rapidly in the upcoming years.
The BFSI segment is growing at a CAGR of 14.8 % during the forecast period. The BFSI sector is characterized by varying communication needs and hosted PBX systems provide scalability and flexibility. Financial institutions can easily scale their communication infrastructure up or down based on business requirements, making it adaptable to changing market conditions. Owing to these factors, there will be a rise in demand in the segment.
Full Report: https://www.kbvresearch.com/hosted-pbx-market/
The North America region dominated the Global Hosted PBX Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $12.3 billion by 2030. The Europe region is anticipated to grow at a CAGR of 16.8% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 18% during (2023 - 2030).
List of Key Companies Profiled
- Verizon Communications, Inc.
- Cisco Systems Inc.
- AT&T, Inc.
- Comcast Corporation
- RingCentral, Inc
- 8x8, Inc.
- Lumen Technologies, Inc.
- Mitel Networks Corporation (Searchlight Capital Partners, L.P. )
- BT Group plc
- CloudTalk, s.r.o.
Hosted PBX Market Report Segmentation
By Offering
- Solution
- Services
By Application
- Unified Communication & Collaboration
- Mobility
- Contact Center
- Others
By Enterprise
- BFSI
- Retail & Ecommerce
- IT & Telecom
- Healthcare & Lifesciences
- Manufacturing
- Travel & Hospitality
- Government & Public Sector
- Education
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Related Reports:
North America Hosted PBX Market Size, Share & Growth to 2030
- January-2024
- 104 Pages
LAMEA Hosted PBX Market Size, Share, Demand & Forecast, 2030
- January-2024
- 116 Pages
Europe Hosted PBX Market Size, Share & Industry Trends 2030
- January-2024
- 114 Pages
Asia Pacific Hosted PBX Market Size, Share & Forecast to 2030
- January-2024
- 116 Pages