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).
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.
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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.
- Cisco Systems, Inc.
- NEC Corporation
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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. Technavios 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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