Cloud PBX Market Competitive Landscape And Key 2020 – 2030

Posted by Dinesh on April 19th, 2021

Hoteliers Adopt Cloud PBX to Enable Clear Communication amid COVID-19 Recovery

Companies in the cloud PBX market have been at a profitable position during and post the COVID-19 outbreak. Since most businesses have been working remotely due to work from home protocols, the demand for cloud PBX (Private Branch Exchange) has witnessed a spike in 2020. Even as offices in countries such as India and the U.S. are reopening, countries including Saudi Arabia, France, Germany, and Spain are still facing challenges in controlling the pandemic.

Nomadix Inc. – a California-based developer of network gateway equipment is acquiring recognition for its new cloud PBX service meant for reliable and clear communications in hotels. Since the hospitality industry is navigating through the challenges imposed by the coronavirus pandemic, hoteliers are adopting cloud PBX solutions to cut costs without compromising on quality and safety. This is expected to drive the cloud PBX market during the forecast period.

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In-house Knowledge, Right Support Partner Help Ease Transition toward Cloud

The cloud PBX market is estimated to reach a revenue of US$ 68.3 Bn by the end of 2030. However, the transition from traditional PBX to cloud poses common challenges such as recognizing proper resource collaboration and limitations in bandwidth may affect market growth. Hence, there is a need for training of employees to increase in-house knowledge of users and collaborating with the right support partner to ensure high quality connection in corporate networks.

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Integrated Communication Platforms to be Next Step for Cloud PBX

The cloud PBX market is projected to advance at a striking CAGR of ~14% during the forecast period. Software developers are creating new integrated platforms to combine different communication tools within a single package. Companies such as Nextiva, RingCentral, Avaya, and GotoConnect are gaining recognition for their integrated cloud PBX platforms.

The proliferation of artificial intelligence (AI) and learning algorithms in the cloud PBX market is creating long-term business opportunities for companies. Modern chat-bots hold promising capabilities for speech to text, sentiment analysis, and natural language processing. These technologies are being used to transcript conversations, identify what a caller is asking, and understand the intent behind those requests

UCaaS Gaining Prominence in India’s Small Businesses Due to Cost Efficiency

Businesses frequently grow and contract over a period of time. This has fueled the need for scalable cloud PBX platforms that adapt with the proportion of business requirements. With the help of in-house PBX, users are able to reserve resources and pre-allocate space for future business expansion plans. Companies in the cloud PBX market are innovating in cloud hosted VoIP systems to offer real-time access toward statistics and business activities to track ongoing and missed calls and active or available agents.

India holds lucrative growth opportunities for companies in the cloud PBX market. Servetel— a cloud telephony service provider in India is gaining popularity for its economical, innovative, and handy cloud solutions. Since the IT sector in India is growing at a rapid pace, startups in the cloud PBX market can explore revenue opportunities by creating new cloud PBX platforms.

Improvements in QOS Schemes, VoIP Technology Translate into Growth Opportunities

High quality voice calls and scalability are now at the top of the mind for every business. Companies in the cloud PBX market are becoming cognizant about consumer needs, and are improving their quality of service (QOS) schemes to offer better compression rates and high Internet speeds. They are investing in R&D to enhance voice communication via the Internet.

Cloud PBX Market: Overview

• According to Transparency Market Research’s latest research report on the global cloud PBX market for the historical period 2018–2019 and the forecast period 2020–2030, the market is anticipated to reach the value of US$ 68.3 Bn by 2030, expanding at a CAGR of ~14% during the forecast period. Increasing adoption of unified communications (UC) solutions among end users will boost the demand for cloud PBX. Most organizations are expected to increase cost-cutting measures, thus, preferring remote location work environments, resulting in high demand for cloud PBX.
• North America is anticipated to emerge as the leading cloud PBX market, followed by Asia Pacific and Europe

Focus on Disaster Proof Technology for Communication: Key Driver of Cloud PBX Market

• Cloud PBX solution is normally unaffected by disasters. Hardware is not deployed on site. Hence, in the event of a natural disaster, users can access and activate their service from a different location as all the calls and numbers are forwarded/directed to the new location. Even if users are unable to make this move quickly, the hosted solution helps to send calls to the voicemail system, where users can access messages at a later date/ time.

Key Challenges Faced by Cloud PBX Market Players

• Incompatible hardware and equipment, and data security concerns may restrain the growth of the cloud PBX market

Increase in Adoption of Cloud PBX across Emerging Markets

• In the year 2010, cloud PBX accounted for only 4% of the total PBX sales, whereas by the end of year 2019, the share of cloud PBX in global PBX increased to 18%. In 2019, the U.S. accounted for almost two-thirds of hosted PBX shipments.
• North America is expected to reach cloud adoption of more than 50% in the global PBX market by the end of 2025. In the current market scenario, the average global cloud penetration in the PBX market is only around 20%; North America has penetration of more than 30%.
• Asia Pacific is expected to surpass the Europe by the end of the forecast period, as adoption of cloud-based technologies is projected to be the highest in the region

Cloud PBX Market: Competition Landscape

• Detailed profiles of providers of cloud PBX have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies