Press Release

Virtual PBX Market Robust Expansion by Top Key Manufactures Till 2026| Worldwide Overview by Size, Share, Trends, Segments

Top Players in Virtual PBX Market are 3CX Ltd., Alpha Telecom Services Inc., RingCentral, Inc., BroadSoft, Inc., BCE Inc., Mitel Networks Corporation, 8x8, Inc., Digitcom, AllStream, Inc., Voysis IP Solutions Inc., Birch Communications, Inc., and TeraGo Networks Inc

The reduction in the total cost of ownership (TCO) is the primary factor driving the global virtual PBX market. Fortune Business Insights in a report, titled “Virtual PBX Market Size, Share and Global Trend by Component (Solution & services), By Product (Network Traffic Management, Virtual Assistance and Support and others) and Geography Forecast till 2025” reveals that the market’s growth is backed by the rising adoption of telco cloud computing. A virtual PBX or private branch exchange system is built around a voice over internet protocol (VoIP) technology, helping companies to improve their efficiency and optimization. High adoption of unified communication technology offering several types of communication platforms pushed growth in the market. 

Browse Complete Report at https://www.fortunebusinessinsights.com/industry-reports/Virtual PBX-market-100205

Low Cost of OPEX and TCO Creates Growth Opportunities for Market in North America

North America is likely to remain strong in the global virtual PBX market during the forecast period between 2019 and 2016. Government implemented guidelines ensuring lower costs of OPEX or operating expenses and TCO are driving the market in North America. Furthermore, adoption of virtual PBX system improves the customer satisfaction and employee productivity. The U.S. is expected to account for a considerable share in the global market backed by the presence of large players. Rapid technological advancements such as high adoption of cloud-based technologies are expected to drive the market in North America.

The market in Asia Pacific is anticipated to rise at a rapid pace in the forecast years. This is mainly attributable to the increasing use of cloud and internet solutions. In addition to this, enhancements in IT infrastructure across emerging countries are expected to create growth opportunities for the market in the coming years.

Top Players List:

  • 3CX
  • RingCentral
  • Alpha Telecom Services, C.A.
  • BroadSoft
  • BCE
  • 8×8
  • Voysis IP Solutions
  • Birch Communications
  • TeraGo Networks Inc.

Adoption of PBX Software Helps to Streamline the Business Processes, Drives the Overall Market

“The rising need for integrating CRMs with cloud-based PBX software is likely to streamline business processes,” said a lead analyst at Fortune Business Insights. “Virtual PBX providers allows specific integration of PBX software as per customer requirements, which is expected to fuel demand for hosted PBX by 2026,” he added. Increasing adoption of telco cloud computing and advanced call routing technology is expected to propel growth in the virtual PBX market. Implementation of virtual private cloud services is projected to reduce the data storage costs during the forecast period. In order to ensure efficient and better work balance, several companies are adopting cloud computing solutions in their network infrastructure. Cloud PBX helps to reduce the complexity present in existing networks and allows service providers to host different virtual networks.

Continuous growth in the mobile communication technology has allowed people to stay connected over the internet from anywhere and anyplace. This is further anticipated to create need for developing specialized virtual PBX solutions over the next few years. The rising adoption of e-commerce business platforms is also anticipated to augment demand for virtual PBX services by 2026. This, coupled with the emergence of blockchain technology and Artificial Intelligence (AI), acts as growth engines to the market. All the above factors are expected to create ample growth opportunities for the key players in the global market.

Regional Analysis:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

3CX Ltd. Designed a New PBX System for Easy Deployment of Virtual PBX System

Some of the leading players operating in the global virtual PBX market are Alpha Telecom Services Inc., 3CX Ltd., RingCentral, Inc., AllStream, Inc., Voysis IP Solutions Inc., BCE Inc., Mitel Networks Corporation, BroadSoft, Inc., 8×8, Inc., Digitcom, TeraGo Networks Inc., and Birch Communications, Inc. Several leading players are planning to adopt strategies in order to increase their operational efficiency and survive competition. Moreover, majority of the players are expected to adopt cloud-based solutions as one of their strategies. In addition to this, some companies have launched new products to strengthen their product portfolio.

For instance, Virtual PBX.com, Inc., launched VirtualPBX Web Phone enabled with TrueACD technology in 2018. This product is a cloud communication tool and offers services such as advanced departmental queuing, unlimited call handling, and video conferencing.

Another company called 3CX Ltd. developed a unified communication (UC) PBX in 2018. This product allows organisations to easily deploy virtual PBX system without any complex hardware installation.

Sample PDF Brochure https://www.fortunebusinessinsights.com/enquiry/sample/Virtual PBX-market-100205

About Us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

 Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

 At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

View Related Reports:

Retail Analytics Market Expected to Rise at an Astonishing 19.3% CAGR; Increasing Demand for Price Optimization to Boost Growth, says Fortune Business Insights

Endpoint Security Market to Rise at a CAGR of 8.4%, Rising Number of Data Breaches to Stoke Demand for Endpoint Security Solution: Fortune Business Insights

Virtual Reality Market To Exhibit a Remarkable 42.2% CAGR, Moves by Facebook, Google, and Apple to Offer an Advanced User Experience to Boost Growth: Fortune Business Insights

Industrial Robots Market Value to Surpass US$ 59.99 Bn by 2026, Teradyne and MiR’s Acquisition Deal to Launch Advanced Industrial Robots: Fortune Business Insights

Tags

Related Articles

Close