What is Global Cloud-based PBX Market?
The Global Cloud-based PBX Market is a rapidly growing sector in the world of telecommunications. PBX, or Private Branch Exchange, is a private telephone network used within a company or organization. The users of the PBX phone system can communicate internally (within their company) and externally (with the outside world), using different communication channels like Voice over IP, ISDN or analog. A cloud-based PBX system, however, is a PBX service provided through the internet, rather than a landline. This means that data is stored in a secure server which you can reach over the internet. The global cloud-based PBX market is expanding due to the increasing demand for advanced communication solutions and services among enterprises worldwide. The adoption of cloud-based PBX allows businesses to reduce their operational costs, enhance their customer interaction, and improve productivity, thereby driving the market growth.
Unlimited Cloud PBX, Metered Cloud PBX in the Global Cloud-based PBX Market:
The Global Cloud-based PBX Market is segmented into two types: Unlimited Cloud PBX and Metered Cloud PBX. Unlimited Cloud PBX offers unlimited calling plans to businesses, making it an ideal solution for large organizations with high call volumes. It provides features like call forwarding, call waiting, voicemail, caller ID, and more. On the other hand, Metered Cloud PBX is a pay-as-you-go model where businesses are charged based on the number of calls made. This model is suitable for small and medium-sized enterprises (SMEs) that have a lower call volume. Both these types have their unique advantages and cater to different business needs. The choice between unlimited and metered cloud PBX depends on the size of the business, call volume, budget, and specific business requirements.
SMEs, Large Enterprises in the Global Cloud-based PBX Market:
The Global Cloud-based PBX Market finds its usage in various areas, particularly in SMEs and Large Enterprises. SMEs benefit from cloud-based PBX as it offers cost-effective communication solutions, allowing them to compete with larger companies. It eliminates the need for expensive hardware and maintenance costs associated with traditional phone systems. Large Enterprises, on the other hand, leverage cloud-based PBX to streamline their communication processes across various locations. It enables them to connect multiple offices and remote employees under one phone system, enhancing collaboration and productivity. The scalability of cloud-based PBX allows businesses to scale up or down based on their needs, making it a flexible solution for both SMEs and Large Enterprises.
Global Cloud-based PBX Market Outlook:
The market outlook for the Global Cloud-based PBX Market is promising. In 2023, the market was valued at US$ 3746.6 million and is expected to reach a staggering US$ 13060 million by 2030. This indicates a Compound Annual Growth Rate (CAGR) of 19.3% during the forecast period from 2024 to 2030. North America holds the largest market share, contributing to over 50% of the total revenue. This can be attributed to the high adoption of advanced communication technologies in the region. Large enterprises form the major application market, accounting for about 68% of the total revenue in 2019. The top five companies in the market held over 59% of the total revenue in 2019, indicating a high concentration of market share among these players.
| Report Metric | Details |
| Report Name | Cloud-based PBX Market |
| Accounted market size in 2023 | US$ 3746.6 million |
| Forecasted market size in 2030 | US$ 13060 million |
| CAGR | 19.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Microsoft, Cisco, Mitel Networks, RingCentral, Verizon, MegaPath, Nextiva, 3CX, Estech Systems, 8x8, Sangoma, Panasonic, NetFortris, TPX Communications |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
