Market Introduction
The sales of cloud PBX are largely influenced by numerous economic and non-economic factors. The retail & manufacturing sectors are expected to have a large impact on the growth of the cloud PBX market. Also, for the retail and manufacturing industry, increasing adoption of cloud technologies is enabling high degree of services to its customers. Potentially, the BFSI and IT & Telecom sectors are expected to present larger opportunities as compared to other sectors during the forecast period.
Market Overview and Dynamics
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. Cloud PBX market is majorly driven by increasing adoption of cloud technology across the industries and the increasing need for improved communication in business. The cloud PBX market is witnessing significant growth and is highly profitable for service providers as it takes advantage of technological advancements and its services can run across IP networks. There is a high demand for cloud PBX among small and medium enterprises, as it is cost effective and does not require hardware maintenance. Drivers impacting cloud PBX market include flexible pricing plan, no upfront cost of deployment, no manpower required for maintenance, and ability to scale up and down.
Key Market Segments
In terms of enterprise size, the medium enterprises segment accounted for the largest share of the US cloud PBX market in 2019. Based on end user, the IT & Telecom segment held the major market share in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the cloud PBX market in US are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 3CX, Inc.; 8*8, Inc.; AT&T Inc.; and Avaya Inc., among others.
Reasons to buy report
- To understand the US cloud PBX market landscape and identify market segments that are most likely to guarantee a strong return
- To stay ahead of the race by comprehending the ever-changing competitive landscape for the US cloud PBX market
- To efficiently plan M&A and partnership deals in the cloud PBX market by identifying market segments with the most promising probable sales
- To help take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segments of the US cloud PBX market
- To obtain revenue forecast for market by various segments from 2020 to 2027 in the US
US CLOUD PBX MARKET SEGMENTATION
Cloud PBX Market – by Enterprise Size
- Small Enterprise
- Medium Enterprise
Cloud PBX Market – by End User
- IT & Telecom
- BFSI
- Healthcare
- Retail
- Manufacturing
- Others
Company Profiles