Telecom Reseller, a top telecom industry publication, recently publishes a study that shows that the global market for Cloud PBX can expect to continue. Its substantial growth between 2019-2023.
The growing availability of cloud architecture, which enables low-cost, reliable telephony systems, is the main driver for the global Cloud PBX market. In addition, global Cloud PBX demand can expect to grow due to the growing need for unified communications in the corporate sector.
According to the most recent Market Research Future research report. The CloudPBX market will experience strong growth in all customer segments over the forecast period. The report lists the following end-user customers: insurance, banking, healthcare, retail, and government, as well as real estate. In addition, the report states that “Healthcare will be the largest end-user of Cloud PBX services during the forecast period.”
The report highlighted three benefits that will help service providers win customers.
- Cloud PBX service has a low upfront cost and offers the cost savings of not having to maintain or upgrade telephone lines.
- Cloud PBX simplifies managing telephony services and reduces complexity.
- As Cloud PBX allows you to host multiple virtual networks. This further enhances efficiency and saves money.
Global growth is expected, with North America accounting for 40.8% of the global Cloud PBX market.
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