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North America Hosted PBX Market Forecast 2027 By Component (Solution, Service [Network Service, Security Service, Managed Service]), By Organization Size (Large Enterprises, SMEs), By Industry Vertical (BFSI, Healthcare, Government, Retail, Manufacturing), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: August 2021 | Publisher: Graphical Research Report ID: GR1937 | Delivery : PDF  Request Free Sample

North America Hosted PBX Market size was over USD 1 billion in 2020 and is anticipated to expand at 10% CAGR between 2021 and 2027. The growing dependence on cloud-based unified communication solutions & services and enterprise-wide demand to enhance communication infrastructure are supporting the regional market growth.

The market demand is further attributed to the rising adoption of cloud-based unified communications solutions & services. The enhanced flexibility and scalability offered by cloud-based solutions including VoIP solutions are fueling the adoption of cloud-based unified communications. As companies are expanding their business operations, the adoption of cloud-based communication infrastructure enables companies to reduce operational expenditure. With the use of hosted communication solutions, users can add phone lines easily within minutes, often directly from their management portal at a variable & affordable monthly subscription pricing.

North America Market, By Industry Vertical

North America Hosted PBX Market Size, By industry vertical

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The government sector is expected to grow at significant rate in the North America hosted PBX market through 2027, due to supportive government initiatives for improving communication infrastructure across the rural region. Government institutions and the public sector organizations are modernizing their communications infrastructure to improve reliability and deliver services for the citizens. For instance, in June 2020, the Communications Infrastructure Contractors Association announced the Rural Connectivity Advancement Program Act of 2020 at the U.S. Senate. The act focuses on improving communication and broadband services in rural regions. The availability of robust communication and internet infrastructure will enable the demand for VoIP services.

North America Market, By Component

Network services held a North America hosted PBX market share of over 40% in 2020, attributed to the growing demand for the management of IP networks to provide seamless cloud communication services. The IP network is a communication network that uses Internet Protocol (IP) to send & receive messages. As one of the most recommended global networks, the IP network is implemented in Internet networks, Local Area Networks (LAN), and enterprise networks. The IP PBX is a phone system that operates over the Internet, replacing traditional analog phone lines.

North America Market, By Organization Size

The SMEs segment in the North America hosted PBX market will likely showcase more than 9% growth rate during the forecast timeline, owing to the growing demand for sophisticated communication services to address the need for reducing telecom equipment expenditure. SMEs largely focus on leveraging cost-effective PBX solutions with a limited capital expenditure. SMEs require specialized features to support their workflows. The hosted PBX is reliable for SMEs due to its easy deployment, administration, and maintenance. It reduces communication & network management costs, enhances collaboration, and improves productivity.

North America Market, By Country

The U.S. hosted PBX market is set to generate a revenue of USD 1.5 billion by 2027. Rising adoption of cloud technology with added benefits such as improved operations, safe & better public relations, and others will boost the market demand.

The major players in the market are focusing on the expansion of their virtual business phone services across the country. For instance, in May 2019, AVOXI expanded its virtual number availability inclusive of its software platform. This expansion involves the local & toll-free numbers for 41 countries, thus expanding the company’s presence in 160 countries. This expansion also helped the company to offer its virtual business phone services to a significantly large customer base.

Competitive Industry Landscape

Key players operating in the North America hosted PBX market are 8x8, Inc., AT&T, Inc., Avaya, Inc., BT Group, BullsEye Telecom, CenturyLink, Inc., Cisco Systems, Inc., Comcast Corporation, Datavo, Megapath (Fusion Connect, Inc.), Mitel Networks Corporation, NEC Corporation, and RingCentral, Inc.

Companies are focusing on strategic partnerships for the development of innovative hosted PBX solutions. For instance, in January 2021, 8X8 Inc. signed a partnership agreement with Verint Systems Inc., a customer engagement company. The partnership helped the company to provide integrated cloud workforce management applications and cloud contact center to enterprise & mid-market businesses across the globe.
 

Frequently Asked Question(FAQ) :

The market size for hosted PBX in North America exceeded USD 1 billion in 2020 and could grow at an impressive CAGR of 10% through 2027 following the trend for cloud-based unified communication solutions and services.
The network services segment accounted for more than 40% share of the North America market in 2020 and is poised to grow with rising demand for IP network management for seamless cloud communication services.
The SMEs segment in the North America industry is likely to observe a 9% CAGR up to 2027 on account of the demand for advanced communication services.
Cisco Systems, Avaya, Inc., 8x8, Inc, Comcast Corporation, AT&T, Inc., Megapath (Fusion Connect, Inc.)., Datavo, RingCentral, Inc., BullsEye Telecom, among others have made North America market competitive.

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