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European Hosted PBX Market size to cross $2 Bn by 2027
Published Date: 2021-09-06
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European Hosted PBX Market size is predicted to reach USD 2 billion by 2027, according to a latest forecast report by Graphical Research.
The market growth is attributed to the increase in the demand for cloud services and enterprises seeking alternatives for traditional VoIP services are fueling the Europe market growth. According to Eurostat, the cloud adoption across the enterprises in Europe was 36% in 2020 as compared to 24% in 2018. The presence of the existing 4G LTE network is also helping the market growth. According to Ofcom’s report on Connected Nation’s 2020, outdoor 4G services from all mobile network operators were available for 97.5% of the UK premises.
The managed service segment in the market is expected to increase exponentially of over 10% over the forecast period. Due to rapid adoption of cloud computing technologies and hosted telephony solutions across different verticals. The service helps businesses to eliminate the deployment of additional software components and operational expenditure. As the services are provided either as Software-as-a-Service (SaaS) or Platform-as-a-Service (PaaS), they reduce the responsibility to manage and maintain the operational efficiency.
The SMEs segment accounted for more than 45% of market share in 2020. The growth is attributed to the increasing demand for sophisticated communication services to address the need for reducing telecom equipment expenditure. SMEs largely focus on leveraging cost-effective PBX solutions with limited capital expenditure. in addition, owing to increasing digitization, the demand for hosted PBX is expected to increase.
Browse detailed statistical insights from the report, “Europe Hosted PBX Market Forecast 2027 By Organization Size (Large Enterprises, SMEs), By Component (Solution, Service [Network Service, Security Service, Managed Service]), By Industry Vertical (BFSI, Healthcare, Government, Retail, Manufacturing), Research Report, Country Outlook (UK, Germany, France, Italy, Spain, Netherlands), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The government sector garnered a revenue of over USD 200 million in 2020. The increasing focus on modernizing communications infrastructure to improve reliability is contributing to the segment growth. The hosted PBX system helps governments to connect and communicate with external agencies and partners to share knowledge & resources. This is driving the demand for hosted PBX solution and services in the Government sector.
France market growth is credited to gradual shift of enterprises from traditional voice & data services to high-quality hosted PBX services. The French telecom industry is shifting toward IP telephony, which has further opened new opportunities for the market players. Leading companies are focusing on the expansion of PBX solutions with new features to meet the increasing demand from the market.
For instance, AstraQom France, a hosted communication provider in France, expanded its PBX solutions with over 60 new features, ranging from USD 7.34 to USD 37.92 per month. The regional market demand will also be impelled by increasing broadband penetration and regional offers.
The companies operating in the market are focusing on strategic partnership and portfolio expansion activities. For instance, In November 2020, BT Group extended its partnership agreement with RingCentral, a provider of global enterprise cloud communications, collaboration, and contact center solutions. This partnership helped both the companies to accelerate the adoption of cloud-based communications and support the digital transformation of business across the UK.
The European Hosted PBX market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027 for the following segments:
Europe Market, By Component
- Network Service
- Security Service
- Managed Service
Europe Market, By Organization Service
- Large Enterprises
Europe Market, By Industry Vertical
The above information has been provided for the following countries: