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Premium Report Details
Base Year: 2020
Companies covered: 30
Tables & Figures: 369
Countries covered: 21
Pages: 270
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Hosted PBX Market
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Hosted PBX Market Size
Hosted PBX Market size exceeded USD 5 billion in 2020 and is poised to grow at over 12% CAGR between 2021 and 2027.
The hosted PBX industry is witnessing a significant disruption with increasing commercialization of 5G and rapidly growing use of VoIP networks. Increasing dependence on cloud-based unified communications and transition from legacy systems are promoting the adoption of hosted PBX services. The prices of hosted network services have also declined substantially.
Hosted PBX services have gained traction amid the ongoing COVID-19 pandemic as majority of the industries have switched to remote working protocols. As per the June 2020 press release by Ericsson, the duration of voice call sessions increased by up to 70% during the lockdown phase. This has spurred the adoption of hosted PBX services as enterprises ensure they are well dimensioned to handle the unprecedented amount of call traffic generated by remote employees.