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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.
What factors will drive the growth of Asia Pacific hosted PBX sector?
Asia Pacific captured 25% of global market share in 2020 and will record appreciable growth due to the growing number of startups and internet users.
How will hosted PBX services gain traction from the government sector in Brazil?
The government segment in Brazil market is poised to grow at a nearly 15% rate through 2027 due to the surging use of modern telephony systems across federal agencies.
Why will large enterprises emerge as key users in Japan market for hosted PBX?
Japan industry share from large enterprises segment is likely to grow at over a 13% CAGR through 2027 owing to increasing dependence on cloud communication.
How will the solution segment in influence France hosted PBX industry trends?
The solution segment in France captured 40% of market share in 2020 and will grow further owing to the soaring demand for high system uptime.
How is hosted PBX market expected to perform through 2027?
The market size of hosted PBX was valued at USD 5 billion in 2020 and is set to expand at a CAGR of over 12% through 2027.