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Cloud PBX Market Analysis By Services(Managed Services, Professional Services, Network Services, IT & Cloud Services), By Enterprise Size(Small & Medium Enterprises, Large Enterprises), By End User(BFSI, Retail & E-commerce, Healthcare, Government, Real Estate) & Forecast 2024-2035

  • PUBLISHED ON
  • 10/11/2022
  • NO OF PAGES
  • 235
  • CATEGORY
  • Information Technology

The Cloud PBX market size is estimated at USD 20.19 billion in 2022 and is expected to reach USD 85.14 billion by 2031, growing at a CAGR of 17.3% from 2022 to 2031. The IP-based PBX solution known as cloud PBX, often referred to as hosted PBX or virtual PBX, is entirely accessible and offered over the internet. Cloud PBX hosts all software and data in the cloud as opposed to digital systems, which host software on a server. An internet phone system called cloud PBX entails the provider being in charge of both hosting the PBX hardware and offering phone services. Customer desk phone connects to a network, and all calls, signals, and features are handled by a server on the provider's premises. Cloud PBX manages all phone system's communication functions, including call waiting and voicemail, and is in charge of routing incoming calls, facilitating call transfers to other extensions, and routing calls to other extensions. For large teams that require features like call forwarding, auto attendants, and sophisticated voicemail, a cloud PBX is a smart option. Many reasons are contributing to the market's growth, including the increasing usage of unified communications (UC) solutions such as cloud PBX by businesses from a variety of end-use sectors, including BFSI, healthcare, retail, government and real estate.

The cost advantage in overall upfront cost is a factor in the expansion of the cloud PBX market. While removing the expense of hardware, software and phone lines changes, the main cost element for cloud-based systems is the service fees. The biggest cost savings for a cloud-based phone system over an on-site PBX are found in the operations and administration sector. The inexpensive cost of a cloud PBX system is its main advantage. Customers don't need to buy any physical equipment because a cloud PBX system is offered as a service; the only gadgets customers would require VoIP-capable desktop phones. The average cost of per seat/user cloud PBX system is around US$ 25 per month. For instance, RingCentral, one of the major providers of cloud PBX, offers four subscription tiers that range from US$29.99 to US$59.99 per user per month. Therefore, low cost of cloud PBX is estimated to propel the market over the forecast period.

Cloud PBX Systems have many advantages in terms of features and flexibility. Cloud PBX has various additional features such as online management, Voicemail-to-email, Call queue, Unlimited calling, Video/web conferencing, Instant messaging, Conference calling, Auto-attendant, etc. Being reachable anywhere and at any time has emerged as a major business objective as the globe swings more and more toward flexible and unconventional working settings. If end-user have an internet connection, a hosted solution enables end-user to make business calls using smartphone or computer. For instance, in November 2021, Liquid Intelligent Technologies has introduced OneVoice for Cloud PBX. This is a collaboration and unified communications tool that enables enterprises and their employees to remain connected even when working remotely. As a result, Cloud PBX could become an attractive alternative system for communication while an end-user wants to operate in remote working infrastructure, thus projected to fuel the market over the forecast period.

However, security and privacy concern is one of the major factor is anticipated to hinder the market growth during the forecast period. Additionally, growing adoption of Telco cloud and advent of Webrtc is anticipated to provide lucrative growth opportunity to the market during the upcoming years.

Service Insights

Based on services, the market is segmented into managed services, professional services, network services and IT & cloud services. In 2022, the managed services segment was dominant and held the largest market share of ~51%. This primarily because cloud PBX system requires a managed service that runs in the cloud to link employees to a telephone network. Furthermore, IT & Cloud Services segment is anticipated to expand a higher CAGR during the forecast period.

Enterprise Size Insights

In terms of enterprise size, small & medium sized enterprises held the dominant market share of around 75% in the year 2021 and the segment is projected to expand at a CAGR of 17.7% over the forecast period from 2022 to 2031; this is mainly due to low cost of the cloud PBX as compare to other unified communication solutions. Hence, small and medium sized organisations has made huge investment in cloud PBX globally. Growing adoption of internet & increasing adoption of digital platforms in small and medium sized to provide unified visibility and availability of enterprise inventory across networks of channels enables SMEs to gain a competitive advantage with efficient order fulfilment from the optimal location at minimum operations costs is expected to drive the growth of the market.

End User Insights

On the basis of end user, BFSI segment held the dominant market share of the digital experience platform market in the year 2021 and the segment is projected to expand at a CAGR of 18.4% over the forecast period from 2022 to 2031; this is mainly due to high rate of adoption of these solutions in the banking and insurance sectors. In the cloud PBX market, retail & e-commerce segment is expected to expand at a 17.4% of CAGR from 2022 to 2031, which indicates that retail & e-commerce sector would enhance the adoption of cloud PBX in the coming years. Growing adoption of internet & increasing adoption of digital platforms among end-user to improve customer experience is expected to drive the growth of the market. Growing need for enterprise mobility among end-user, which is expected to boost the growth of the cloud PBX market during the forecast period.

Regional Insights

By region, the global cloud PBX market is segmented into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa. North America accounted for a large share of the global market in 2021 at ~65%. In North America, U.S. is the hub of advanced technology. The U.S. had witnessed huge investment in wireless technology and advanced network infrastructure in past few years. Additionally, startup culture in U.S. is increasing at a higher rate. Startup has low budget and they need consistent communication system to increase the connectivity within the organisation with minimum maintenance and less investment. However, Asia Pacific is estimated to be the fastest growing cloud PBX market in the world during the forecast period. This is primarily due to the increasing digitalization trend across various countries such India, South Korea, etc. For instance, In January 2020, CloudConnect Communications, one of the major India based secure mobile-first Cloud Communication System Provider, has introduced cloud-based, mobile PBX plus / Unified Communication system on a PaaS model. In the Asia Pacific region, the demand for unified communication solution is increasing at a rapid pace. Hence tis would expected to fuel the demand for cloud PBX during the forecast period.

Key Companies Insights

Cisco Systems, Inc., RingCentral Inc, Five9, Inc. and AT&T, Inc. are expected to lead in market share (%) and broad customer reach. The market is moderately fragmented, with various key players operating on global scale. Market players are focusing on new product launch and upgradation of existing product by implementing new technology to increase the features and strengthen their global footprint. For instance in September 2021, Telness Tech has introduced its first cloud-based PBX solution together with fast-growing Cloudgruppen. Cisco Systems, Inc., has around 25% market share in cloud PBX market in 2021 and Some of the key players operating in the global CLOUD PBX market include:

·         Allworx Corporations

·         AT&T, Inc.

·         Avaya Inc.

·         Barracuda Networks Inc. (CudaTel)

·         BullsEye Telecom Inc

·         Centurylink

·         Cisco Systems, Inc.

·         D-Link System Inc.

·         Five9 Inc.

·         MegaPath Inc.

·         Microsoft Corporation

·         Mitel Networks Inc.

·         NEC Corporation

·         Nextiva Inc.

·         Panasonic Corporation

·         Polycom

·         RingCentral Inc.

·         T Group

·         Vonage America Inc.

·         Others

Segments

By Services

·         Managed Services

·         Professional Services

·         Network Services

·         IT & Cloud Services

By Enterprise Size

·         Small & Medium Enterprises

·         Large Enterprises

By End User

·         BFSI

·         Retail & E-commerce

·         Healthcare

·         Government

·         Real Estate

·         Other

By Geography

·         North America

o   U.S.

o   Canada

o   Mexico

·         Europe

o   U.K.

o   Germany

o   France

o   Italy

o   Spain

o   Russia

·         Asia-Pacific

o   Japan

o   China

o   India

o   Australia

o   South Korea

o   ASEAN

·         Latin America

o   Brazil

o   Argentina

o   Colombia

·         MEA

o   South Africa

o   Saudi Arabia

o   UAE

o   Egypt


Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Base Year: 2023
Historic Year: 2016-2022
Forecast: 2024-2035


1 Cloud PBX Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of Cloud PBX
1.3 Cloud PBX Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of Cloud PBX
1.4.2 Applications of Cloud PBX
1.5 Market Exchange Rate

2 Research Method and Logic
2.1 Methodology
2.2 Research Data Source

3 Market Competition Analysis
3.1 Microsoft Corporation Market Performance Analysis
3.1.1 Microsoft Corporation Basic Information
3.1.2 Product and Service Analysis
3.1.3 Strategies for Company to Deal with the Impact of COVID-19
3.1.4 Microsoft Corporation Sales, Value, Price, Gross Margin 2016-2021
3.2 Avaya Market Performance Analysis
3.2.1 Avaya Basic Information
3.2.2 Product and Service Analysis
3.2.3 Strategies for Company to Deal with the Impact of COVID-19
3.2.4 Avaya Sales, Value, Price, Gross Margin 2016-2021
3.3 Cisco system Market Performance Analysis
3.3.1 Cisco system Basic Information
3.3.2 Product and Service Analysis
3.3.3 Strategies for Company to Deal with the Impact of COVID-19
3.3.4 Cisco system Sales, Value, Price, Gross Margin 2016-2021
3.4 RingCentral Market Performance Analysis
3.4.1 RingCentral Basic Information
3.4.2 Product and Service Analysis
3.4.3 Strategies for Company to Deal with the Impact of COVID-19
3.4.4 RingCentral Sales, Value, Price, Gross Margin 2016-2021
3.5 Nextiva Market Performance Analysis
3.5.1 Nextiva Basic Information
3.5.2 Product and Service Analysis
3.5.3 Strategies for Company to Deal with the Impact of COVID-19
3.5.4 Nextiva Sales, Value, Price, Gross Margin 2016-2021
3.6 Panasonic Corporation Market Performance Analysis
3.6.1 Panasonic Corporation Basic Information
3.6.2 Product and Service Analysis
3.6.3 Strategies for Company to Deal with the Impact of COVID-19
3.6.4 Panasonic Corporation Sales, Value, Price, Gross Margin 2016-2021
3.7 BullsEye Telecom Market Performance Analysis
3.7.1 BullsEye Telecom Basic Information
3.7.2 Product and Service Analysis
3.7.3 Strategies for Company to Deal with the Impact of COVID-19
3.7.4 BullsEye Telecom Sales, Value, Price, Gross Margin 2016-2021
3.8 Allworx Corporations Market Performance Analysis
3.8.1 Allworx Corporations Basic Information
3.8.2 Product and Service Analysis
3.8.3 Strategies for Company to Deal with the Impact of COVID-19
3.8.4 Allworx Corporations Sales, Value, Price, Gross Margin 2016-2021
3.9 D-Link System Market Performance Analysis
3.9.1 D-Link System Basic Information
3.9.2 Product and Service Analysis
3.9.3 Strategies for Company to Deal with the Impact of COVID-19
3.9.4 D-Link System Sales, Value, Price, Gross Margin 2016-2021
3.10 Mitel Networks Market Performance Analysis
3.10.1 Mitel Networks Basic Information
3.10.2 Product and Service Analysis
3.10.3 Strategies for Company to Deal with the Impact of COVID-19
3.10.4 Mitel Networks Sales, Value, Price, Gross Margin 2016-2021
3.11 NEC Corporation Market Performance Analysis
3.11.1 NEC Corporation Basic Information
3.11.2 Product and Service Analysis
3.11.3 Strategies for Company to Deal with the Impact of COVID-19
3.11.4 NEC Corporation Sales, Value, Price, Gross Margin 2016-2021
3.12 Vonage America Market Performance Analysis
3.12.1 Vonage America Basic Information
3.12.2 Product and Service Analysis
3.12.3 Strategies for Company to Deal with the Impact of COVID-19
3.12.4 Vonage America Sales, Value, Price, Gross Margin 2016-2021
3.13 Barracuda Networks Market Performance Analysis
3.13.1 Barracuda Networks Basic Information
3.13.2 Product and Service Analysis
3.13.3 Strategies for Company to Deal with the Impact of COVID-19
3.13.4 Barracuda Networks Sales, Value, Price, Gross Margin 2016-2021
3.14 MegaPath Market Performance Analysis
3.14.1 MegaPath Basic Information
3.14.2 Product and Service Analysis
3.14.3 Strategies for Company to Deal with the Impact of COVID-19
3.14.4 MegaPath Sales, Value, Price, Gross Margin 2016-2021

4 Market Segment by Type, Historical Data and Market Forecasts
4.1 Global Cloud PBX Production and Value by Type
4.1.1 Global Cloud PBX Production by Type 2016-2021
4.1.2 Global Cloud PBX Market Value by Type 2016-2021
4.2 Global Cloud PBX Market Production, Value and Growth Rate by Type 2016-2021
4.2.1 Hosted PBX and Unified Communications as-a-service Market Production, Value and Growth Rate
4.2.2 Communications Platform as-a-service Market Production, Value and Growth Rate
4.2.3 SD-WAN Market Production, Value and Growth Rate
4.2.4 Contact Center Market Production, Value and Growth Rate
4.2.5 Video communications Market Production, Value and Growth Rate
4.3 Global Cloud PBX Production and Value Forecast by Type
4.3.1 Global Cloud PBX Production Forecast by Type 2022-2030
4.3.2 Global Cloud PBX Market Value Forecast by Type 2022-2030
4.4 Global Cloud PBX Market Production, Value and Growth Rate by Type Forecast 2022-2030
4.4.1 Hosted PBX and Unified Communications as-a-service Market Production, Value and Growth Rate Forecast
4.4.2 Communications Platform as-a-service Market Production, Value and Growth Rate Forecast
4.4.3 SD-WAN Market Production, Value and Growth Rate Forecast
4.4.4 Contact Center Market Production, Value and Growth Rate Forecast
4.4.5 Video communications Market Production, Value and Growth Rate Forecast

5 Market Segment by Application, Historical Data and Market Forecasts
5.1 Global Cloud PBX Consumption and Value by Application
5.1.1 Global Cloud PBX Consumption by Application 2016-2021
5.1.2 Global Cloud PBX Market Value by Application 2016-2021
5.2 Global Cloud PBX Market Consumption, Value and Growth Rate by Application 2016-2021
5.2.1 Small Enterprises Market Consumption, Value and Growth Rate
5.2.2 Middle Enterprises Market Consumption, Value and Growth Rate
5.2.3 Large Enterprises Market Consumption, Value and Growth Rate
5.3 Global Cloud PBX Consumption and Value Forecast by Application
5.3.1 Global Cloud PBX Consumption Forecast by Application 2022-2030
5.3.2 Global Cloud PBX Market Value Forecast by Application 2022-2030
5.4 Global Cloud PBX Market Consumption, Value and Growth Rate by Application Forecast 2022-2030
5.4.1 Small Enterprises Market Consumption, Value and Growth Rate Forecast
5.4.2 Middle Enterprises Market Consumption, Value and Growth Rate Forecast
5.4.3 Large Enterprises Market Consumption, Value and Growth Rate Forecast

6 Global Cloud PBX by Region, Historical Data and Market Forecasts
6.1 Global Cloud PBX Sales by Region 2016-2021
6.2 Global Cloud PBX Market Value by Region 2016-2021
6.3 Global Cloud PBX Market Sales, Value and Growth Rate by Region 2016-2021
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 South America
6.3.5 Middle East and Africa
6.4 Global Cloud PBX Sales Forecast by Region 2022-2030
6.5 Global Cloud PBX Market Value Forecast by Region 2022-2030
6.6 Global Cloud PBX Market Sales, Value and Growth Rate Forecast by Region 2022-2030
6.6.1 North America
6.6.2 Europe
6.6.3 Asia Pacific
6.6.4 South America
6.6.5 Middle East and Africa

7 United State Market Size Analysis 2016-2030
7.1 United State Cloud PBX Value and Market Growth 2016-2021
7.2 United State Cloud PBX Sales and Market Growth 2016-2021
7.3 United State Cloud PBX Market Value Forecast 2022-2030

8 Canada Market Size Analysis 2016-2030
8.1 Canada Cloud PBX Value and Market Growth 2016-2021
8.2 Canada Cloud PBX Sales and Market Growth 2016-2021
8.3 Canada Cloud PBX Market Value Forecast 2022-2030

9 Germany Market Size Analysis 2016-2030
9.1 Germany Cloud PBX Value and Market Growth 2016-2021
9.2 Germany Cloud PBX Sales and Market Growth 2016-2021
9.3 Germany Cloud PBX Market Value Forecast 2022-2030

10 UK Market Size Analysis 2016-2030
10.1 UK Cloud PBX Value and Market Growth 2016-2021
10.2 UK Cloud PBX Sales and Market Growth 2016-2021
10.3 UK Cloud PBX Market Value Forecast 2022-2030

11 France Market Size Analysis 2016-2030
11.1 France Cloud PBX Value and Market Growth 2016-2021
11.2 France Cloud PBX Sales and Market Growth 2016-2021
11.3 France Cloud PBX Market Value Forecast 2022-2030

12 Italy Market Size Analysis 2016-2030
12.1 Italy Cloud PBX Value and Market Growth 2016-2021
12.2 Italy Cloud PBX Sales and Market Growth 2016-2021
12.3 Italy Cloud PBX Market Value Forecast 2022-2030

13 Spain Market Size Analysis 2016-2030
13.1 Spain Cloud PBX Value and Market Growth 2016-2021
13.2 Spain Cloud PBX Sales and Market Growth 2016-2021
13.3 Spain Cloud PBX Market Value Forecast 2022-2030

14 Russia Market Size Analysis 2016-2030
14.1 Russia Cloud PBX Value and Market Growth 2016-2021
14.2 Russia Cloud PBX Sales and Market Growth 2016-2021
14.3 Russia Cloud PBX Market Value Forecast 2022-2030

15 China Market Size Analysis 2016-2030
15.1 China Cloud PBX Value and Market Growth 2016-2021
15.2 China Cloud PBX Sales and Market Growth 2016-2021
15.3 China Cloud PBX Market Value Forecast 2022-2030

16 Japan Market Size Analysis 2016-2030
16.1 Japan Cloud PBX Value and Market Growth 2016-2021
16.2 Japan Cloud PBX Sales and Market Growth 2016-2021
16.3 Japan Cloud PBX Market Value Forecast 2022-2030

17 South Korea Market Size Analysis 2016-2030
17.1 South Korea Cloud PBX Value and Market Growth 2016-2021
17.2 South Korea Cloud PBX Sales and Market Growth 2016-2021
17.3 South Korea Cloud PBX Market Value Forecast 2022-2030

18 Australia Market Size Analysis 2016-2030
18.1 Australia Cloud PBX Value and Market Growth 2016-2021
18.2 Australia Cloud PBX Sales and Market Growth 2016-2021
18.3 Australia Cloud PBX Market Value Forecast 2022-2030

19 Thailand Market Size Analysis 2016-2030
19.1 Thailand Cloud PBX Value and Market Growth 2016-2021
19.2 Thailand Cloud PBX Sales and Market Growth 2016-2021
19.3 Thailand Cloud PBX Market Value Forecast 2022-2030

20 Brazil Market Size Analysis 2016-2030
20.1 Brazil Cloud PBX Value and Market Growth 2016-2021
20.2 Brazil Cloud PBX Sales and Market Growth 2016-2021
20.3 Brazil Cloud PBX Market Value Forecast 2022-2030

21 Argentina Market Size Analysis 2016-2030
21.1 Argentina Cloud PBX Value and Market Growth 2016-2021
21.2 Argentina Cloud PBX Sales and Market Growth 2016-2021
21.3 Argentina Cloud PBX Market Value Forecast 2022-2030

22 Chile Market Size Analysis 2016-2030
22.1 Chile Cloud PBX Value and Market Growth 2016-2021
22.2 Chile Cloud PBX Sales and Market Growth 2016-2021
22.3 Chile Cloud PBX Market Value Forecast 2022-2030

23 South Africa Market Size Analysis 2016-2030
23.1 South Africa Cloud PBX Value and Market Growth 2016-2021
23.2 South Africa Cloud PBX Sales and Market Growth 2016-2021
23.3 South Africa Cloud PBX Market Value Forecast 2022-2030

24 Egypt Market Size Analysis 2016-2030
24.1 Egypt Cloud PBX Value and Market Growth 2016-2021
24.2 Egypt Cloud PBX Sales and Market Growth 2016-2021
24.3 Egypt Cloud PBX Market Value Forecast 2022-2030

25 UAE Market Size Analysis 2016-2030
25.1 UAE Cloud PBX Value and Market Growth 2016-2021
25.2 UAE Cloud PBX Sales and Market Growth 2016-2021
25.3 UAE Cloud PBX Market Value Forecast 2022-2030

26 Saudi Arabia Market Size Analysis 2016-2030
26.1 Saudi Arabia Cloud PBX Value and Market Growth 2016-2021
26.2 Saudi Arabia Cloud PBX Sales and Market Growth 2016-2021
26.3 Saudi Arabia Cloud PBX Market Value Forecast 2022-2030

27 Market Dynamic Analysis and Development Suggestions
27.1 Market Drivers
27.2 Market Development Constraints
27.3 PEST Analysis
27.3.1 Political Factors
27.3.2 Economic Factors
27.3.3 Social Factors
27.3.4 Technological Factors
27.4 Industry Trends Under COVID-19
27.4.1 Risk Assessment on COVID-19
27.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
27.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
27.5 Market Entry Strategy Analysis
27.5.1 Market Definition
27.5.2 Client
27.5.3 Distribution Model
27.5.4 Product Messaging and Positioning
27.5.5 Price
27.6 Advice on Entering the Market

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.


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