Virtual PBX Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

The Increasing Demand for Enterprise Mobility is Driving the Growth of Virtual PBX Market

Globally, the virtual PBX market is expected to grow with a CAGR of 15.1% during the forecast period from 2021 to 2029. The increasing demand for enterprise mobility solutions is driving the demand for virtual PBX market. As the adoption of the mobile devices among the enterprises is rising and employee started using their own devices to access organization data, organizations are looking for new ways to establish a well structured and maintained mobile infrastructure. Virtual PBX allows enterprises to invent their Network infrastructure and enhance collaboration between their employees, which in turn increases the business performance.

Moreover, it allows enterprises to develop a more sophisticated telephone system by eliminating the cost of ownership and creating a virtual network. The rising need among the organization to upgrade from the traditional PBX to cloud based PBX is also serving as a major driver for the growth of the market. Furthermore, the growing adoption of the telecom cloud is also driving the market growth. However, the security issues associated with the use of the virtual PBX is inhibiting the growth of the market. The rising concern to maintain the quality of the service is also a major challenge among the market players.

Services is Estimated to Grow Significantly During the Forecast Period

The virtual PBX market is characterized based on the component into solution and services. Solutions accounted for more than 60% share in the revenue in 2020. The market growth is attributed to the changing market dynamics and wide scale adoption of the virtual infrastructure. On the other hand, services market is estimated to increase significantly during the forecast period.

North America is Leading the Virtual PBX Market

North America led the virtual PBX market with the market share of over 37% in 2020. The growth of the market is driven by the large scale in investment in the wireless technologies in the region. The growing adoption of the advance technology solutions such as IoT, cloud and unified communication platform is also serving as a a major driver for the growth of the market. Besides, the rapid digitalization across the industries in the region is also supporting the market growth.

The major players in the virtual PBX market are 8x8 Inc, 3CX Ltd, AT&T Inc, BT GROUP PLC, Avaya, Bullseye Telecom, Cisco Systems, CenturyLink Inc, Comcast Business Services, Digium, Datavo, Ozonetel Communications Pvt Ltd, Interglobe Communications, Mitel Networks Corporation, MegaPath, Nexge Technologies Ltd, NovoLink Communications Inc, Nextiva Inc, OneConnect Inc, and Polycom Inc.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2021 to 2029.

Key questions answered in this report

• What was the market size of virtual PBX in 2020 and forecast up to 2029?
• Which is the largest regional market for virtual PBX?
• What are the major trends followed in virtual PBX market across different regions?
• Who are the key companies in the virtual PBX market?
• What are the key strategies adopted by the leading virtual PBX companies in market?

Unique data points of this report

• Statistics on virtual PBX and spending worldwide
• Recent trends across different regions in terms of adoption of virtual PBX across applications
• Notable developments going on in the industry
• Attractive investment proposition for segments as well as geography
• Comparative scenario for all the segments for years 2020 (actual) and 2029 (forecast)

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