Cloud PBX Market size worth $ 14.76 Billion, Globally, by 2028 at 14.17% CAGR: Verified Market Research®

- Technological advancement and growing adoption of cloud computing, the growing number of startups and SMEs, and the application of cloud PBX across various industries are some of the factors expected to drive the Cloud PBX Market.

JERSEY CITY, N.J., Feb. 1, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Cloud PBX Market" By Offering (Solutions and Services), By Services (Configuration And Change Management, Network Traffic Management), By Enterprise Size (Small and Medium-size Enterprises and Large Enterprises), By Application (BFSI, Healthcare, Information Technology, Retail), and By Geography. According to Verified Market Research, the Global Cloud PBX Market size was valued at USD 5.12 Billion in 2020 and is projected to reach USD 14.76 Billion by 2028, growing at a CAGR of 14.17% from 2021 to 2028.

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Browse in-depth TOC on "Cloud PBX Market"

202 - Pages
126 – Tables
37 – Figures

Global Cloud PBX Market Overview

The increasing adoption of cloud-based technology and the increasing number of SMEs are driving the demand for the Cloud PBX Market. Cloud PBX has several advantages, including scalability, flexibility when using additional hardware, and cost savings. Therefore, they are widely used in small and medium-sized enterprises and large enterprises. It reduces enterprise operating costs by eliminating the need for on-site equipment installation and maintenance. These are completely IT-based offsite communication systems that reduce infrastructure costs.

Cloud PBXs are widely used in IT companies, the BFSI sector, the government, and the public sector. Rapid technological development has led to new innovations in cloud PBX software, and the growing adoption of cloud computing is driving the development of the Cloud PBX Market. On the contrary, as cloud PBX is entirely internet-based, any issues with the internet connectivity can cause redundancy and quality degradation of the calls. Besides that, increasing issues of cybercrimes possess security threats to the data that are restraining the growth of the Cloud PBX Market.

Key Developments

• In February 2020, Partnership with Ring Central Inc., Avaya Inc. launched Avaya Cloud Office, a service that delivers team messaging, video meetings, and cloud PBX to make cloud communications easier.

Key Players

The major players in the market are Vonage, Microsoft, Cisco, ShoreTel Inc., Nextiva, Mega Path, and Comcast. Ring Central, Avaya, and AT&T, Inc.

Verified Market Research has segmented the Global Cloud PBX Market On the basis of Offering, Services, Enterprise Size, Application, and Geography.

• Cloud PBX Market, By Offering
• Solution
• Services
• Cloud PBX Market, By Services
• Configuration and Change Management
• Network Traffic Management
• Virtual Deployment and Setup
• Emergency Call Routing Services
• Others
• Cloud PBX Market, By Enterprise Size
• Small and Medium-size Enterprises
• Large Enterprises
• Cloud PBX Market, By Application
• BFSI
• Healthcare
• Information Technology
• Retail
• Government
• Others
• Cloud PBX Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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Top 5 Cloud Managed Services using internet to deliver applications

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