Press release

Global Hosted Private Branch Exchange (PBX) Market Will Grow at a CAGR of 14% During 2019-2023 | Technavio

Sponsored by Businesswire

Technavio has announced the release of their research report on the
global hosted private branch exchange (PBX) market for the forecast
period 2019-2023. This hosted PBX market analysis report segments the
market based on solution (virtual development and setup, network traffic
management, virtual assistance and support, configuration and change
management, and others) and geography (APAC, North America, Europe, MEA,
and South America).

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Global hosted private branch exchange (PBX) market will register a CAGR of over 14% during 2019-2023 ...

Global hosted private branch exchange (PBX) market will register a CAGR of over 14% during 2019-2023 (Graphic: Business Wire)

Global hosted private branch exchange (PBX) market size will grow by
almost USD 4.23 billion during 2019-2023, at a CAGR more than 14%.
Artificial intelligence (AI) is extensively being incorporated at
contact centers which are helping enterprises to improve customer
experience. The integration of AI helps hosted PBX solutions to become
more efficient and provides hosted PBX an intelligent agent facility. In
addition, it can help enterprises in reducing costs and boosting
efficiencies as enterprises would not have to operate contact centers
24/7 globally. Most importantly, AI will be able to automate operations
and thus help to reduce the dependency on humans.

The advances in network infrastructure

With the increasing number of business processes and a growing global
network of organizations, the need for efficient communication systems
is increasing within the organization. This is propelling the adoption
of virtual network technologies which can help in improving the
efficiency of the business and neutralize cyber threats. These updated
technologies continuously require network efficiency checks. As a
result, vendors in the Hosted PBX are introducing automation and
flexible techniques in their offerings over the cloud network to improve
the productivity of end-user industries. The introduction of
next-generation network monitoring helps enterprises to passively
collect data about the traffic on their network, and servers and then
automatically discover all applications. Hence, hosted PBX has become a
strategic priority for several industrial organizations.

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“The penetration of Internet and wireless broadband is increasing
significantly across verticals, resulting in the proliferation of social
and mobility phenomenon across enterprises. The dissemination of
wireless Internet is constantly rising across industries mainly due to
the advanced infrastructure and technologies, such as 4G and 5G, and
wireless broadband becoming cheaper by the day. The popularity of
wireless PBX system has increased significantly over the years and they
have amplified cloud network consumerization across verticals. Such a
digital ecosystem that is engulfing enterprise and consumer technologies
demands the incorporation of hosted PBX capabilities for the better
operation of the entire system,” says an analyst at Technavio.

a snapshot of the report
for a more detailed overview
of the market and the segmentation covered in this report

This hosted PBX industry research report provides an in-depth analysis
of the major drivers, upcoming trends, and challenges that will impact
market growth over the forecast period. The report analyzes the
competitive landscape and offers details on several hosted PBX
manufacturers including –

  • Avaya Inc.
  • CenturyLink
  • Cisco Systems, Inc.
  • NEC Corporation
  • Siemens

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company.
Their research and analysis focuses on emerging market trends and
provides actionable insights to help businesses identify market
opportunities and develop effective strategies to optimize their market
positions. Technavio’s report library consists of more than 10,000
reports covering 800 technologies, spanning across 50 countries. Their
client base includes enterprises of all sizes, including more than 100
Fortune 500 companies.

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