June 08, 2020
According to a recent study titled ‘Global Cloud Public Branch Exchange (PBX) Market Size study, by Enterprise Size (SME, Large) by End-Use (IT & Telecom, BFSI, Healthcare, Retail, Manufacturing, Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global cloud public branch exchange (PBX) market is expected to record sizeable growth over 2020-2026.
Cloud PBX is the process of transferring the load of managing voice calls and other telephony to the cloud. Cloud service providers are equipped to PBX systems specifically designed for the cloud for delivering a better virtualized PBX system. Data stored on these systems are transferred to the cloud storage unlike a conventional computer or piece of hardware. These systems are hosted entirely on servers in off-site data centers and powered by the internet.
Cloud PBX reduces the complexity of operations in the available networks and allows cloud service providers to host multiple virtual networks without the need for common separation isolation methods. Moreover, Cloud PBX is highly cost effective as compared to other PBX solutions such as hosted telephone system, VoIP & IP PBX. These benefits combined with the paradigm shift of businesses to cloud platforms for improved operational efficiency and security, along with escalating number of connected devices are driving the growth of global Cloud public branch exchange (PBX) market.
Furthermore, the hosting of servers for cloud PBX is carried out using off-site data centers. Hence, increasing number of data centers across the globe strengthens the industry growth. Sustaining investments and growing focus among major tech giants to expand their data centers will render a positive impact on the market. For instance, in February 2019, Google announced an investment of USD 13 billion investment for data centers in USA, 4 billion more than the investment in 2018. The company plans to expand its existing data centers in data centers in Seattle, New York, and Chicago, and further establish new data centers in Nevada, Nebraska, Ohio, Oklahoma, Texas, and other cities, consequently boosting the industry growth. However, dearth of skilled professional will impede the market growth over the forecast period.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2589944/
From a regional perspective, North America cloud PBX market will continue to display strong growth over the estimated timeframe. Early adoption of new cloud technologies, mounting number of connected devices, and availability of high-speed internet services such as 5G are supporting the growth of cloud CBX industry in North America.
Asia Pacific cloud PBX market is anticipated to record tremendous growth over the forecast timeline, owing to rising investments for development of high-speed Internet infrastructure and presence of large number data centers in the region totaling to 1137 data centers geared for the Cloud technology. Among these, Australia accounts for 244, Japan with 200, India with 119 and China with 99 data centers.
Prominent players in global cloud public branch exchange (PBX) market are Nextiva Inc., Microsoft Corporation, RingCentral Inc., Barracuda Networks Inc., Avaya Inc., Cisco Systems, Inc. Mitel Networks Corporation, D-Link System Inc., Panasonic Corporation, and NEC Corporation.