North American Hosted PBX Market size is estimated to cross USD 2.5 billion by 2027, according to a latest forecast report by Graphical Research.
The North America market growth is attributed to the growing BYOD trend across enterprises. With the technological & industrial evolution, enterprises across diverse industry verticals are emphasizing on digitizing their business operations. These enterprises are enabling their employees to work from anywhere to provide flexible working hours to improve their business productivity. Employees can use their own devices, such as smartphones, laptops, and tablets, in the work environment for enterprise communication purposes. Businesses are increasingly realizing the benefits of BYOD in terms of increased employee productivity and efficiency. The extensive adoption of BYOD trends and focus on ensuring enterprise flexibility are anticipated to drive the market growth.
The hosted PBX solution segment held a market share of over 35% in 2020 due to low initial investments for phone systems. A cloud-hosted PBX provides greater business continuity as the phone system resides in a secure off-site facility. In January 2020, Peerless Network, a cloud-based PBX solution provider, patterned with Ribbon Communication to utilize Ribbon Communications’ Cloud2Edge service for its new Cloud PBX offering. This partnership helped the company to offer cost-effective, enhanced security, carrier-grade QoS management, and high-quality business VoIP solutions to its enterprise customers.
Large enterprises are expected to grow at a CAGR of over 5% during the forecast period due to the growing cloud adoption. Due to the COVID-19 outbreak, large enterprises have instructed their employees to work remotely from home. Additionally, the IP-based voice calling solution helps remote employees to connect across & communicate. The IT teams monitor & maintain the overall infrastructure and make necessary changes as per the business requirements.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
The retail sector is expected to grow significantly over the forecast period due to the rising penetration of ecommerce platforms across the region. The hosted PBX helps e-commerce companies to secure reliable in-house communication to manage the business workflow, which is anticipated to support market growth. As the hosted PBX solutions support cell phone and smartphone integration, companies can adopt these solutions to influence productivity and business growth. This will help in sharing product catalogs, sales figures, and other useful business information to other team members and managers.
Canada hosted PBX industry is expected to generate a revenue of over USD 500 million by 2027. Enterprises in Canada are adopting cloud-based communication services for a seamless communication within & outside the enterprises. The favorable economic conditions and the growing enterprise-wise cloud demand are enabling companies to expand the cloud communication market in the country. For instance, in April 2020, ThinkTel, a division of Distributel, launched its hosted PBX unified communications offering, MaX UC in partnership with Metaswitch. This partnership helped the company to strengthen its managed hosted PBX solution and unified communications suite to support the remote workforce.
The telecom market is growing steadily in the country. Industry players are increasing their investments in 5G and have shifted toward LTE infrastructure to serve the increasing demand for mobile data services. The Canadian government is encouraging operators to expand their services in rural & regional areas. An improvement in the telecommunication infrastructure will provide improved cellular coverage and enable individuals to gain a maximum benefit of digitization.
The hosted PBX in North American 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:
North America Market, By Component
- Network Service
- Security Service
- Managed Service
North America Market, By Organization Size
North America Market, By Industry Vertical
The above information has been provided for the following countries: