Market Highlights
Cloud technology is becoming popular amongst different business so as to accomplish an efficient and cost effective way of doing various tasks. The communication technology is upgrading using cloud technology. Cloud PBX is a technology that provides all the features of a traditional PBX and replacing the on-premise PBX hardware. The demand for VoIP and cloud PBX is rapidly growing. It has been observed that businesses of all sizes are ready to make the transition from the on-site phone systems to VoIP and are looking forward to cloud solutions to reduce the expenses.
The cloud PBX providers also maintain the servicing regularly updated to keep them updated with new enhancements. Demand for cloud PBX is growing and it’s going to be bigger than ever in the coming years as more and more businesses make their transition to this advancing technology.
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Cloud PBX also reduces the time to implement and activate new services. It has been observed that businesses of all sizes are ready to make the transition from the on-site phone systems to cloud solutions so as to reduce the expenses. The main reason behind this is reduction in the cost as cloud software eliminates the various hardware and provides the same features which a normal on premise software provides. Therefore as capital investments are not necessary on adoption of cloud technology, it is driving the Cloud PBX Market.
Cloud PBX system is a very complex system. The cloud PBX with its own unique terminology, abbreviations, and requirements, the unfamiliar natures are challenging to the IT or data center manager. Running a data center or configuring the network for any office is a different task to implementing a VoIP solution, and many network administrators are uncertain of the cloud PBX operations.
Key Players
The prominent players in the Cloud for PBX Market are – Microsoft Corporation(Skype) (U.S), Nextiva Inc.(U.S), RingCentral Inc.(U.S), , Avaya Inc.(U.S), Barracuda Networks Inc. (CudaTel) (U.S), , Vonage America Inc.(U.S), Cisco system Inc.(U.S), D-Link System Inc. (Taiwan), Allworx Corporations (U.S), BullsEye Telecom Inc (U.S), Mitel Networks Inc. (Canada), MegaPath Inc.(U.S), NEC Corporation (Japan) and Panasonic Corporation (Japan) among others
Market Research Analysis:
On geographic basis, global active electronic components market is studied in different regions as North America, Europe, Asia-Pacific and Rest of world. North America is dominating the cloud PBX market with 40% market share in 2017. The market for cloud PBX in North America is expected to grow at 25% CAGR through the forecast period. Europe stands as second biggest market with market share of 32.51% in the year 2017 and has been valued at USD 481.30 million in the year 2017 which is expected to grow at USD 1,678.50 million by the end of forecast period with 23.15% of CAGR.
Global Cloud PBX Market Segmentation
The market for global cloud PBX market is segmented on the basis of service, organization size, end-user and region. On the basis of service the segment is further classified into managed services, professional services, network services, IT and cloud services. On the basis of organization size the segment is further classified into small and medium enterprises (SME) and large enterprises. The end-users of the cloud PBX market are BFSI, healthcare, retail, government, real estate and many more.
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Intended Audience
- System Security
- Software investors
- Cloud for PBX solution vendors
- Cloud for PBX Providers
- IP Data providers
- Internet Service providers
- Value-added Resellers
- System Governance
- Distributers
- Investors and Venture Capitalist
- Cloud based PBX Service Provider
- Cloud for PBX Agencies
- Technology Integrators
- Research/Consultancy firms
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