DUBLIN--(BUSINESS WIRE)--The "Cloud PBX Market to 2027 - Global Analysis and Forecasts by Enterprise Size; End-User" report has been added to ResearchAndMarkets.com's offering.
The global cloud PBX market was valued at US$ 5.07 Bn in 2018 and is expected to grow at a CAGR of 15.5% during the forecast period 2019-2027, to account to US$ 18.2 Bn by 2027. Factors such as advancements in cloud technology and high adoption among by SMEs are driving the cloud PBX market growth.
The global cloud PBX market is substantially grown over the years, attributing to the drastic change in consumer behavior towards purchasing and payments. Asia Pacific remains the key market for cloud PBX due to the changing economies and continuous technological developments in the countries of the region.
SMEs are expected to witness high demand for cloud PBX during the forecast period. The increasing number of SMEs in developing countries of Asia-Pacific is fueling the demand. Moreover, the government initiatives for the improvement of IT infrastructure in developing countries such as China and India are having a positive impact on the cloud PBX market growth.
North America holds a significant share in the cloud PBX market. The region comprises of early adopters of advance technologies and has a strong supporting infrastructure. Moreover, the government in this region are taking several initiatives to improve telecommunication infrastructure. Asia-Pacific is expected to witness high year-on-year growth during the forecast period.
The developing countries of Asia-Pacific are few of the quick adopters of advance technologies such as unified communication, IoT, mobility, cloud technology, and others. Moreover, the increasing number of SMEs in China and India are fueling the cloud PBX market significantly during the forecast period. With the continuous advancements and developments in technology and improving IT infrastructure is expected to drive the cloud PBX market in Asia-Pacific countries significantly during the forecast period.
The most prominent regions in global cloud PBX market in terms of market share are North America, Europe, and the Asia Pacific. The Middle East and Africa, and South America held the fourth and fifth position in terms of market shares in the cloud PBX market. The dominance of North America is majorly accountable for a significantly large number of cloud PBX market players in the US.
Also, the adoption trends of newer technologies is consistently higher in the US and pertaining to the industry scenario; the country is densely populated with numerous organizations from different industries. The Asia Pacific is estimated to be the fastest growing geography during the forecast period from 2019-2027. The countries in the Asia Pacific are constantly witnessing the establishments of different multi-national companies as well as the emergence of national or local companies.
Some of the key players included in the global cloud PBX market are 3CX, 8x8, Inc., AT&T Inc., Comcast Corporation, SORS Global, Avaya Inc., Voyced Ltd., Cisco, Microsoft, RingCentral, Inc., and others.
Key Topics Covered
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Cloud PBX Market - By Enterprise Size
1.3.2 Cloud PBX Market - By End-User
1.3.3 Cloud PBX Market - By Geography
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Cloud PBX Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South America PEST Analysis
4.3 Ecosystem Analysis
5. Cloud PBX Market - Key Industry Dynamics
5.1.1 The increasing need for effective communication in enterprises
5.1.2 The reduced cost of operation is driving its adoption of cloud PBX
5.2.1 Security concerns with respect to increasing cyber crime
5.3.1 Roll-out of 5 G to provide growth benefits to cloud PBX operators
5.4 Future Trend
5.4.1 Availability of integration support and migration strategies are the key trend in the cloud PBX market
5.5 Impact Analysis
6. Cloud PBX - Global Market Analysis
6.1 Global Cloud PBX market Overview
6.1.1 Global Cloud PBX market Forecast and Analysis
6.2 Market Positioning/ Market Share
7. Cloud PBX Market Revenue And Forecasts To 2027 - Enterprise Size
7.2 Enterprise Size Market Forecasts and Analysis
7.4 Large Enterprises
8. Cloud PBX Market Revenue And Forecasts To 2027 - By End-User
8.2 End-User Market Forecasts and Analysis
8.3 IT & Telecom
9. Cloud PBX Market - Geographical Analysis
9.2 North America Cloud PBX market Revenue and Forecasts to 2027
9.3 Europe Cloud PBX market Revenue and Forecasts to 2027
9.4 Asia Pacific Cloud PBX market Revenue and Forecasts to 2027
9.5 Middle East & Africa Cloud PBX market Revenue and Forecasts to 2027
9.6 South America Cloud PBX market Revenue and Forecasts to 2027
10. Industry Landscape
10.1 Market Initiative
10.2 New Development
11. Company Profiles
11.1 3CX Inc.
11.2 8x8 Inc.
11.3 AT&T Inc.
11.4 Avaya Inc.
11.5 Cisco Systems Inc.
11.6 Comcast Corporation
11.7 Microsoft Corporation
11.8 RingCentral Inc.
11.9 SORS Global
11.10 Voyced Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/rkdq5i