Press release
Cloud PBX Market 2018 Global Leaders: Barracuda Networks, Avaya, RingCentral, MegaPath, Mitel Networks, BullsEye Telecom, Allworx Corporations, Vonage America
Market Highlights
The study reveals that Cloud for PBX is trending in North America region. The Cloud for PBX market is driven by the innovation and IP technology advancements in communication system services to make more advanced and cost effective systems. A recent trend in smart technologies is boosting the Cloud for PBX market.
The study signifies that the increasing demand of internet based Audio, Video & Voice service is a key driver for Cloud for PBX Market. The study also reveals that a trend of high adoption of Cloud for PBX and growing demand of 5G technology will boost the communication services market in future. The study reveals that the low costs as compared to other Analog PBX system results in the advantage to the Cloud for PBX market.
The Cloud for PBX market is growing rapidly over 13.2% of CAGR and is expected to reach at USD ~$20.83 billion by the end of forecast period.
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Global Cloud PBX Market Segmentation
The market for global cloud PBX market is segmented on the basis of service, organization size, end-user and region. On the basis of service the segment is further classified into managed services, professional services, network services, IT and cloud services. On the basis of organization size the segment is further classified into small and medium enterprises (SME) and large enterprises. The end-users of the cloud PBX market are BFSI, healthcare, retail, government, real estate and many more.
Market Research Analysis:
On geographic basis, global active electronic components market is studied in different regions as North America, Europe, Asia-Pacific and Rest of world. North America is dominating the cloud PBX market with 40% market share in 2017. The market for cloud PBX in North America is expected to grow at 25% CAGR through the forecast period. Europe stands as second biggest market with market share of 32.51% in the year 2017 and has been valued at USD 481.30 million in the year 2017 which is expected to grow at USD 1,678.50 million by the end of forecast period with 23.15% of CAGR.
Key Players
The prominent players in the Cloud for PBX Market are – Microsoft Corporation(Skype) (U.S), Nextiva Inc.(U.S), RingCentral Inc.(U.S), , Avaya Inc.(U.S), Barracuda Networks Inc. (CudaTel) (U.S), , Vonage America Inc.(U.S), Cisco system Inc.(U.S), D-Link System Inc. (Taiwan), Allworx Corporations (U.S), BullsEye Telecom Inc (U.S), Mitel Networks Inc. (Canada), MegaPath Inc.(U.S), NEC Corporation (Japan) and Panasonic Corporation (Japan) among others
Key Findings
• By organization size, large enterprises are dominating the market and is expected to be valued at USD 3,699.61 million by the end of year 2023 with 23.65% of CAGR during 2017 to 2023.
• By service, professional service is dominating the market of Cloud PBX, with market share of 28%, in the year 2017.
• Healthcare is dominating the market of Cloud PBX, By Application in the year 2017.
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Intended Audience
• System Security
• Software investors
• Cloud for PBX solution vendors
• Cloud for PBX Providers
• IP Data providers
• Internet Service providers
• Value-added Resellers
• System Governance
• Distributers
• Investors and Venture Capitalist
• Cloud based PBX Service Provider
• Cloud for PBX Agencies
• Technology Integrators
• Research/Consultancy firms
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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