Market Size of Hosted Private Branch Exchange (PBX) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 15.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hosted Private Branch Exchange Market Analysis
The hosted Private Branch Exchange (PBX) market is expected to register a CAGR of 15.2% during the forecast period of (2021 - 2026). Unlike a traditional PBX, which requires a large investment and ongoing maintenance and training, a hosted PBX is a cloud-based PBX system accessible via an IP network and thus extends the benefits associated with the cloud services.
- The rising adoption of cloud technology has significantly boosted the adoption rate of hosted PBX. With the added compliance benefits, in addition to scalability, that the cloud provides, the adoption of PBX has been increased substantially by the users.
- There has been a huge rise in demand for efficient mobility at the enterprise level. Hosted PBX solves this problem to a large extent. It provides businesses with the ability to manage their phone systems via a user-friendly control panel.
- Security and privacy concerns have always stopped enterprises from adopting cloud technology. Thus, this also acts as a major restraint for the adoption of hosted PBX technology due to its dependence on the cloud.
- At the time of the COVID-19 pandemic across the world, the market for hosted private branch exchange has shown a significant rise. For instance, in April 2020, ThinkTel, a division of Distributel, announced its hosted PBX unified communications offering called MaX UC, in partnership with Metaswitch. ThinkTel has been providing a fully managed hosted PBX solution since 2010 and announced the evolution of its unified communications suite.
