The US cloud PBX 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 US is a developed country in terms of modern technology. The technological advancements have led to highly competitive markets in the US. Also, the US is one of the fastest growing country in terms of technological development. In the past five years, the country witnessed significant adoption of cloud-based technologies, which has resulted in growth of the cloud PBX market.
Impact of COVID-19 Pandemic on Cloud PBX Market
Due to the complete lockdown and ‘work from home’ trend in US have significantly demanded collaboration through online platforms. The cloud PBX market is gaining high traction during the coronavirus outbreak. In the given crisis, when the economies are falling down, the cloud PBX market is expected to rise. The demand is increasing due to the companies are working from a remote location. Coordination with the employees and availability of advanced telecommunication infrastructure is the key factor creating the demand for cloud PBX solution during the pandemic in US. Also, 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.
Cloud PBX Market Insights
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Growing Demand for Effective Communication in Enterprises Driving Cloud PBX Market
The cloud PBX lays the foundation for technological advancements in organizations by synchronizing a wide range of communication and collaborations tools; also, they enable the organizations to integrate with their critical business applications at a broader level. With the help of unification of numerous locations amid a business firm, for instance, the unification of itinerant workers under a single congregated network, the IP telephony offers flexible and advanced features for the communication process.
The ability of the cloud PBX to provide its users with seamless connectivity across the globe with minimal disruptions enables the organizations to enhance their performance and elevate their profitability. Because an effective communication such as audio/video conference, and web conference is considered as a critical asset in business, implementation of telephony system that operates on internet, not only facilitates better and hassle-free communication but also reduces the cost of ownership, adding to the factor that has influenced demand growth and are expected to continue during the forecast period.
Enterprise Size-Based Market Insights
Based on enterprise size, the Cloud PBX market is segmented into small enterprises and medium. The medium enterprises segment led the US Cloud PBX market in 2019. The segment is expected to dominate the market during the forecast period. In the cloud-based deployment model, software is hosted on a third-party infrastructure and services are provided to end users via a network. Some of the major benefits of choosing cloud-based solutions include low CAPEX that a company would require in establishing new infrastructure and limited cost of new software licensing and new services. The cloud-based deployment of solutions helps companies to adopt pay-as-you-grow model and proving them benefits, such as high scalability, elasticity, and efficient metering of the services. Medium enterprises are considered as ideal customers of cloud PBX systems for a several reasons. One of the key reasons is the deployment of enterprise grade phone system features at lesser cost. Cloud PBX is budget friendly for medium enterprises as the companies are only required to pay monthly fee, which includes phone service, phone system applications, as well as equipment, instead of owning and maintaining own PBX system. Furthermore, cloud PBX offers online PBX management tools that enable the companies to make changes to the phone system without having to call the provider.
End User-Based Market Insights
Based on application, the Cloud PBX market is categorized into IT & Telecom, BFSI, healthcare, retail, manufacturing, and others. The IT & Telecom segment led the market in 2019 with the highest share and it is expected to continue its dominance during the forecast period. Currently, companies operating in IT and tech sector are facing immense competition. To remain competitive, these companies must have an ideal communication solution which is coordinated with their core business. With the help of Cloud PBX solution, these companies can strengthen the interaction between the staff and customers. As these solutions enable the staff to identify incoming calls of the customers. The lack of management of incoming leads results in losing prospective customers already in the contact phase. Also, simplicity is a vital factor when companies convert visitors to the website to actual leads. And when it comes to businesses active within the IT sector, this requirement is extra strong from the customers
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
US Cloud PBX Market: Strategic Insights
Market Size Value in US$ 1,299.0 Million in 2019 Market Size Value by US$ 3,262.0 Million by 2027 Growth rate CAGR of 10.8% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
US Cloud PBX Market: Strategic Insights
| Market Size Value in | US$ 1,299.0 Million in 2019 |
| Market Size Value by | US$ 3,262.0 Million by 2027 |
| Growth rate | CAGR of 10.8% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
The players operating in the Cloud PBX market focus on strategies, such as mergers, acquisitions, product development, and market initiatives, to maintain their positions in the market. A few developments by key players are listed below:
In 2020, Cisco acquired BabbleLabs. This acquisition helped the company to enhance video meeting experience with noise removal and speech enhancement technology.
In 2018, 8x8, Inc. announced the availability of its next generation intelligent cloud solutions for featuring services including video conferencing, contact center, voice, and team messaging. The solution was developed through integrating contact center and unified communication environment, especially for large enterprise. The solutions are aimed especially for retail, healthcare, manufacturing, technology and utilities sectors.
Cloud PBX Market – by Enterprise Size
- Small Enterprises
- Medium Enterprises
Cloud PBX Market – by End User
- IT & Telecom
- BFSI
- Healthcare
- Retail
- Manufacturing
- Others
Company Profiles
- 3CX, inc
- 8X8, INC.
- AT&T Inc.
- Avaya Inc.
- Cisco Systems, Inc.
- COMCAST CORPORATION
- Microsoft Corporation
- RingCentral, Inc
- SORS Global
- Voyced Ltd
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Enterprise Size and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
The List of Companies - US cloud PBX market
- 3CX, inc
- 8X8, INC.
- AT&T Inc.
- Avaya Inc.
- Cisco Systems, Inc.
- COMCAST CORPORATION
- Microsoft Corporation
- RingCentral, Inc.
- SORS Global
- Voyced Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to US Cloud PBX Market
Oct 2020
Engineering Professional Services Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Consulting, Non-Consulting), Service Type (Designing and Construction, ESG, Program Management, Others), Sector (Private, Public), Vertical (Advanced Manufacturing, Infrastructure, Energy and Utilities, Environmental, Transportation, Others), Advanced Manufacturing (Data Center, Life Sciences, Electronics, and Semiconductor, EV and EV Battery, Others), Infrastructure (Buildings and Cities, Health Infrastructure, Telecommunication Infrastructure, Others), Energy And Utilities (Renewables, Energy Storage, Transmission and Distribution), Transportation (Aviation, Highways and Bridges, Ports and Maritime, Rail and Transit), Water (Water, Wastewater), and Geography (Americas, Europe, Asia Pacific and Middle East and Africa)
Oct 2020
Virtual Reality Puzzle Games Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Age (18 to 34 Years, Above 35 Years, 13 to 17 Years, and Upto 12 Years), Player Type (Single Player and Multi Player), and End Users (Individuals and Professionals)
Oct 2020
Inspection Software for Government Services Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Software and Services), Services (Implementation and Deployment, Support and Maintenance, Training, and Consulting), Deployment (Cloud and On-premises), Application (Permitting and Licensing Management, Inspection and Scheduling Management, Contract Management, and Others), and End User (Local Government, State Government, and Federal Government)
Oct 2020
Spend Analytics for Electronics and Semiconductor Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Component (Software and Service), Type (Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics), Deployment (On-premise and Cloud), and Application (Financial Management, Risk Management, Governance and Compliance Management, Supplier Sourcing and Performance Management, Demand and Supply Forecasting, and Others)
Oct 2020
Photonic Design Automation Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Service), Deployment (On-Premise and Cloud), Organization Size (SMEs and Large Enterprises), and Application (Academic Research and Industrial Research & Manufacturing)
Oct 2020
Voice-based Payments Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Hardware and Software), By Enterprise Size (Large Enterprises and Small and Medium-Sized Enterprises), By Industry (BFSI, Automotive, Healthcare, Retail, Government, and Others), and by Geography
Oct 2020
Private 5G Network Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services); Frequency (Sub-6 GHz and mmWave), End User (Manufacturing, Energy and Utilities, Automotive, Military and Defense, Government and Public Safety, and Others)
Oct 2020
Unified Threat Management Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services); Deployment (Cloud and On-Premise); Enterprise Size (Large Enterprises and SMEs); and End Users (BFSI, Manufacturing, Healthcare, Retail, Government, IT & Telecom, and Others)