Virtual PBX Market Is Projected to Grow at a CAGR of Nearly 14% During 2018-2025 Top 10 Key Players, Alpha Telecom Services Inc., Mitel Networks Corporation Etc
Virtual PBX Market: Global Product Intelligence, Industry Analysis, Size, Share, Growth, Trends and Forecast - 2025
Houston, TX -- (SBWire) -- 02/14/2019 --The Global Virtual PBX Market Research Report Forecast 2018-2025 is a valuable source of insightful data for business strategists. It provides the Virtual PBX industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Virtual PBX market study provides comprehensive data which enhances the understanding, scope, and application of this report. According to the report, the global virtual PBX market is projected to grow at a CAGR of +14% over the forecast period of 2018-2025.
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The key players in the Virtual PBX market are 3CX Ltd., Alpha Telecom Services Inc., Mitel Networks Corporation, RingCentral, Inc., BroadSoft, Inc., BCE Inc., TELUS, TeraGo Networks Inc., 8x8, Inc., Digitcom, AllStream, Inc., Voysis IP Solutions Inc., AstraQom, Introtel, Birch Communications, Inc., and Nextiva, Inc.
Virtual PBX (Personal Branch Exchange) is a telephone system that uses Voice over Internet Protocol (VoIP) technology for Internet telephony. Virtual PBX service providers are constantly evolving and offering more additional services. This includes features such as call waiting, call forwarding, and messaging. The virtual PBX service also includes voice and video conferencing that enables businesses to interact with employees and customers in remote locations. Without the need to install special software, administrators can collaborate online at minimal cost. Users can activate this PBX with the gateway and special hardware or software. Connections are made through the local network of your smartphone or 3G / 4G. The main advantage of using a virtual PBX is that it is much cheaper than setting up an existing PBX. Simply lower your monthly fees for services and equipment. With the Internet, expensive hardware, gateways, and connectors, you can make calls using your laptop and headset.
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Reduction in the total cost of ownership by bringing the capital expenditure as the phone needs yearly phone fees drives the growth of the virtual PBX market. In addition, increased employee productivity and improved consumer satisfaction are strengthening the virtual PBX market. Cost savings through reduced phone and fax charges are aiding market growth. However, mismatched hardware such as switches and equipment's are the factor curtailing the virtual PBX market during the forecast period. Furthermore, Growth in mobile telecommunication technology has enabled people to remain connected to the Internet from anywhere in the world. This has created the need to develop specialized solutions for mobile operating systems such as Android and IOS. On the other hand, increasing adoption of Telco clouds, small and medium-sized enterprises are relying more on virtual PBX. This, in turn, is creating several growth opportunities for the key players in the Virtual PBX market over the years to come.
Global Virtual PBX Market by Enterprise Size
- Small & Micro Enterprises
- Medium Enterprises
- Large Enterprises
Among the geographies, Americas dominated the virtual PBX market. The growth in the Americas is due to most of the contribution from the U.S. The flexible IT support and leveraging the IT infrastructure primarily drives the majority of the companies in this region. Moreover, increasing use of cloud and internet solutions is anticipated to expand at the rapid pace in the Asia Pacific region.
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This report provides a comprehensive analysis of
Key market segments and sub-segments
Evolving market trends and dynamics
Changing supply and demand scenarios
Quantifying market opportunities through market sizing and market forecasting
Tracking current trends/opportunities/challenges
Opportunity mapping in terms of technological breakthroughs
This report provides in-depth insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors driving and limiting the global virtual PBX market. The RNR - Growth Matrix analysis provided in this report also provides insight into areas of investment that existing or new market participants may consider. The report provides insight into the marketplace using analytical tools such as Porter's five strength analysis and DRO analysis of the virtual PBX market. The study also highlights current market trends and provides forecasts for 2018-2025. We also highlighted future trends in the virtual PBX market that will impact demand during the forecast period. In addition, competition analysis given in each local market provides insight into the market share of major players. This report will help manufacturers, suppliers and distributors of the virtual PBX market understand current and future trends in this market and establish strategies accordingly.
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