Hosted PBX Market Analysis

Hosted Private Branch Exchange Industry Insights

Offering Insights

• The solutions category will hold the larger market share, of 65%, in 2024 and the coming few years.
• This is due to the increasing demand for unified communications as a service. It helps in enhancing productivity, management, and collaboration by integrating several communication tools into one platform.
• Therefore, businesses are using compressive solutions to fulfill all their communication needs, resulting in a high demand for hosted PBX solution that provide solid, unified communication features.
• Moreover, several businesses are modernizing their communication infrastructure and looking for advanced hosted PBX solutions that are cost-effective and adaptable.
• The services category will grow at the higher CAGR, of 17%, in the forecast period.
• Hosted PBX systems frequently bring advanced and novel technology, for which employee training services are crucial, to hone their ability to use the system efficiently.
• Customization is another reason for the high demand for services, as organizations often have specific communication needs.
• To ensure optimal user experience and functionality, service providers offer customization options for using hosted PBX solutions in accordance with company requirements.

The offerings analyzed in this report are:

• Solutions (Largest Category)
• Services (Fastest-Growing Category)
• Professional
  • Deployment & integration
  • Training, support, & maintenance
• Managed

Application Insights

• Unified communication & collaboration will hold the largest market share, of 45%, in 2024 and grow at the highest CAGR in the forecast period.
• Unified communication & collaboration offer enhanced productivity by offering an easy transition between several communication modes.
• Therefore, without changing applications, employees can effortlessly switch from voice calls to video conference or chats, which saves time.
• This helps businesses be more responsive and customize customer service, as it helps in integrating communication channels with CRM systems.
• Moreover, it helps in combining several communication tools, such as video, voice, messaging, and file sharing, into one platform, hence eliminating the need for multiple systems and streamlining communication processes.
• By combining multiple communication platforms, unified communication &collaboration also offer cost-efficiency, hence making it more popular among various industries.

The applications analyzed in this report are:

• Unified Communication & Collaboration (Largest and Fastest-Growing Category)
• Mobility
• Call Center
• Others

End User Insights

• BFSI will hold the largest market share, of 40%, in 2024 due to its complex and demanding communication needs.
• Banks often experience wavering in communication due to market conditions, seasonal variations, and organizational changes.
• Hosted PBX systems help these organizations scale up or down their communication infrastructure effortlessly, without any physical hardware.
• Moreover, these solutions provide advanced compliance and security tools that can satisfy the strict standards of the industry.
• Moreover, BFSI sector needs advanced call handling features for compliance reasons, such as interactive voice response (IVR), call recording, and automated call distribution (ACD).
• These features are provided hosted PBX systems, which assist in better customer service management.
• Healthcare & life sciences is expected to grow at the highest CAGR, of 17.5%, in the forecast period.
• The PBX platform provides secure and easy communication channels to this industry for data security and patient privacy.
• Additionally, the platform's cost-effectiveness helps the healthcare sector, which is under pressure, lower operating expenses.

The end user analyzed in this report is:

• BFSI (Largest Category)
• Retail & Ecommerce
• Healthcare & Life Sciences (Fastest-Growing Category)
• Manufacturing
• Telecommunications
• IT & ITeS
• Travel & Hospitality
• Government & Public Sector
• Others

Deployment Insights

• Public cloud will hold the largest market share of 55%, in 2024 due to its scalability.
• As organizations grow, their communication needs evolve, necessitating flexible and scalable solutions to meet these changing demands.
• With public cloud solutions, employees can access PBX system from any place.
• Moreover, public PBX solutions needs less maintenance and are easy to implement.
• Hybrid deployment models are expected to grow at the highest CAGR, in the coming forecast period.
• Organizations can leverage the cost-effectiveness and scalability of public clouds while maintaining critical applications and data on private clouds by implementing hybrid deployment models, which combine the advantages of both public and private clouds.
• The hybrid solution allows for improved alternatives for disaster recovery and allows for vertical cloud backup of the communication system while retaining on-premise control.

The deployment models included in this report are:

• Public (Largest Category)
• Private
• Hybrid (Fastest-Growing Category)

Organization Size Insights

• Large enterprises will hold the larger market share, of 70%, in 2024 and are expected to grow at the higher CAGR in the forecast period.
• This is because large enterprises can afford to invest more in advanced technology than smaller ones can, which allows them to make significant investments in hosted PBX systems.
• Moreover, large enterprises need tailored solutions that can fulfill their unique communication workflows and business processes.
• Hosted PBX offers these customized solutions, such as advanced call management features, integration with enterprise systems, and the ability to support complex organizational structures.

Some other organizational size included in this report are:

• Large Enterprises (Larger and Faster-Growing Category)
• Small and Medium Enterprises