Cloud PBX Market Outlook by Application (Microsoft Corporation, Nextiva, RingCentral, Avaya, Barracuda Networks, Cisco Systems, D-Link System) to 2024

The main objective of this report is to define, describe, and forecast the global “Cloud PBX” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.

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Efficient and better work balance to promote the growth of the Cloud PBX market

Adoption of Cloud PBX in many IT companies for efficient and better work balance drives the growth of the cloud PBX market. Scalability and cost-effectiveness of these systems is impacting the market positively. In addition, Operation and the administration hold the biggest cost saving for a cloud based phone. However, in some cases, if the cloud based PBX is not installed properly the integration of the system with customer relationship management becomes a problem. This, in turn, is curtailing the growth of the cloud PBX system over the forecast period. Furthermore, the technology is hosted over the Internet, and the user can access and use the phone system anywhere that has Internet access. This is extremely useful for remote employees. This, in turn, is creating huge growth opportunities for the key players in the Cloud PBX market over the years to come.

North America to dominate the global cloud PBX market over the forecast period

North America dominated the global Cloud PBX market. The growth in the North American region is high due to the huge demand or the cloud based technologies in this region. Furthermore, growing number of small and medium sized enterprises and increasing digitalization in organizations are projected to drive the North American market. Moreover, the separation of services from hardware to cloud based system is driving the growth of cloud based PBX market in the Asia Pacific region.

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Zoom entered UCaaS(UC-as-a-service) market with new cloud PBX service

In October 2018-Zoom plans to release a cloud telephony service for businesses that subscribe to its web conferencing platform a significant step for the startup that shows its cloud ambitions extend beyond video. Zoom has established itself as a leader in the video conferencing space, rivaling UC giants Microsoft and Cisco. Zoom's decision to develop a cloud PBX service comes as those two competitors have been investing heavily in team collaboration apps that are Microsoft Teams and Cisco Webex Teams who support both audio and video communications in the cloud.

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