According to the publisher's latest market study on “US Cloud PBX Market Forecast to 2027 - COVID-19 Impact and Analysis by Enterprise Size (Small Enterprises and Medium Enterprises) and End User (IT & Telecom, BFSI, Healthcare, Retail, Manufacturing, and Others, the market was valued at US$ 1,299.0 million in 2019 and is projected to reach US$ 3,262.0 million by 2027; it is expected to grow at a CAGR of 10.8% from 2020 to 2027.
The advantage of developed economies and highly advanced technologies gives ample opportunities to SMEs to better fulfill the requirement for their operations. The software industry is expanding, and their growth is rising at a decent pace. Moreover, with a rise in usage of Internet-based applications in various departments due to ease of operation, the adoption of cloud solutions by companies is increasing exponentially. This has raised the scope of cloud-based PBX as well. Cloud PBX allows organizations to connect globally at an ease. Other factors contributing to the cloud PBX growth in US include strategic shift in the businesses regarding communications solutions to cloud in order to enhance their operating efficiencies, and need for the SMEs to leverage their technology to stay competitive in the market, which in response is expected to foster the demand for outsourced communications technology.
There are around 2.9 million small offices/home offices and over 2.7 million SMEs with up to 250-300 employees in the US. Moreover, these SMEs employ over 58 million people, and majority of these businesses are still caught on time-division multiplexing. Also, as per FCC’s data, majority of the US landlines are VoIP overall, business lines still lag the overall market; just 40% of business lines are VoIP. This would provide a great opportunity to the cloud PBX players in the near future as these businesses are highly adopting cloud technologies.
Companies adopt inorganic market strategies to expand their footprints across the world and meet the growing demand. The Cloud PBX market players mainly focus on the acquisition strategy to expand their business and maintain their brand name globally. For instance, in 2020, Cisco acquired BabbleLabs. This acquisition helped enhance video meeting experience with noise removal and speech enhancement technology.
Impact of COVID-19 on Cloud PBX market
The complete lockdown and “work from home” trend in the US have significantly demanded collaboration through online platforms. The cloud PBX market is gaining high traction during the coronavirus outbreak. The demand for cloud PBX solutions is increasing as employees are working from remote locations. Coordination with the employees and availability of advanced telecommunication infrastructure is the key factor creating the demand for cloud PBX solutions during the pandemic in the US. Moreover, it is expected to witness high demand for communication platform due to the presence of a large number of SMEs in the country. Vendors are highly focused on tapping the market opportunities during the pandemic.
The report segments the US cloud PBX market as follows:
US Cloud PBX Market - by Enterprise Size
US Cloud PBX Market - by End User
Reasons to Buy
The advantage of developed economies and highly advanced technologies gives ample opportunities to SMEs to better fulfill the requirement for their operations. The software industry is expanding, and their growth is rising at a decent pace. Moreover, with a rise in usage of Internet-based applications in various departments due to ease of operation, the adoption of cloud solutions by companies is increasing exponentially. This has raised the scope of cloud-based PBX as well. Cloud PBX allows organizations to connect globally at an ease. Other factors contributing to the cloud PBX growth in US include strategic shift in the businesses regarding communications solutions to cloud in order to enhance their operating efficiencies, and need for the SMEs to leverage their technology to stay competitive in the market, which in response is expected to foster the demand for outsourced communications technology.
There are around 2.9 million small offices/home offices and over 2.7 million SMEs with up to 250-300 employees in the US. Moreover, these SMEs employ over 58 million people, and majority of these businesses are still caught on time-division multiplexing. Also, as per FCC’s data, majority of the US landlines are VoIP overall, business lines still lag the overall market; just 40% of business lines are VoIP. This would provide a great opportunity to the cloud PBX players in the near future as these businesses are highly adopting cloud technologies.
Companies adopt inorganic market strategies to expand their footprints across the world and meet the growing demand. The Cloud PBX market players mainly focus on the acquisition strategy to expand their business and maintain their brand name globally. For instance, in 2020, Cisco acquired BabbleLabs. This acquisition helped enhance video meeting experience with noise removal and speech enhancement technology.
Impact of COVID-19 on Cloud PBX market
The complete lockdown and “work from home” trend in the US have significantly demanded collaboration through online platforms. The cloud PBX market is gaining high traction during the coronavirus outbreak. The demand for cloud PBX solutions is increasing as employees are working from remote locations. Coordination with the employees and availability of advanced telecommunication infrastructure is the key factor creating the demand for cloud PBX solutions during the pandemic in the US. Moreover, it is expected to witness high demand for communication platform due to the presence of a large number of SMEs in the country. Vendors are highly focused on tapping the market opportunities during the pandemic.
The report segments the US cloud PBX market as follows:
US Cloud PBX Market - by Enterprise Size
- Small Enterprises
- Medium Enterprise
US Cloud PBX Market - by End User
- IT & Telecom
- BFSI
- Healthcare
- Retail
- Manufacturing
- Others
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the US Cloud PBX market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the US cloud PBX market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth US market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
2. Key Takeaways
3. Research Methodology
4. US Cloud PBX Market Landscape
5. Cloud PBX Market - Key Market Dynamics
6. Cloud PBX Market - US Analysis
7. Cloud PBX Market Analysis - by Enterprise Size
8. Cloud PBX Market Analysis - by End-User
10. US Cloud PBX Market- Industry Landscape
11. Company Profiles
12. Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 3CX, inc
- 8X8, INC.
- AT&T Inc.
- Avaya Inc.
- Cisco Systems, Inc.
- COMCAST CORPORATION
- Microsoft Corporation
- RingCentral, Inc.
- SORS Global
- Voyced Ltd
