Cloud PBX Market: Key Business Opportunities Along With Potential Challenges 2020 - 2030

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Cloud PBX Market - Introduction

  • Cloud PBX is an advanced business phone solution hosted on servers and powered over the internet for off-site data centers. A cloud PBX solution offers more advanced features as compared to traditional PBX used in businesses, while enabling a non-technical office administrator to easily set up systems on the server.
  • Companies use EPBX and IPPBX to manage analog and IP based concurrent calls in an enterprise. Enterprises are shifted to IP telephony solutions to provide a more reliable platform to employees to communicate.
  • Companies are investing in telecom equipment such as PBX, switches, access points, and other telecom equipment to improve the service quality of communication
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  • Adoption of cloud technology and IP based technology in enterprise communication helps to reduce the yearly expenditure on telecom systems. Telecom service providers offer managed cloud PBX services for enterprises to manage the concurrent calls in enterprises or in call centers.
  • A cloud PBX system also known as hosted PBX service is majorly adopted by customer care service providers, BPO, KPO, and other service sector industries. Cloud PBX solutions offer call recording, virtual attendant, call queues, and automated call distribution services. A cloud PBX is a highly cost effective solution which allows businesses to reduce in-house installation charges, which is expected to increase the demand for cloud based solutions in enterprises. 

Key Drivers of the Cloud PBX Market

  • Rising adoption of cloud PBX solutions in IT companies and service sectors in order to enhance their productivity is expected to drive the cloud PBX market
  • Solution providers are offering scalability in cloud PBX solutions that enables companies to increase the employee size at any time without investing in any hardware system, which is expected to boost the cloud PBX market
  • Investors are collaborating with cloud based enterprise solution companies to consolidate their position in the market and provide advanced solutions in cloud PBX services. This is expected to offer significant opportunities to solution providers of cloud PBX.

Integration issues with customer relationship management (CRM) systems of enterprises expected to hinder the growth of the cloud PBX market

  • Solution providers are facing integration issues with customer relationship management (CRM) systems of enterprises to deliver cloud PBX services, which is a key factor that restrains the cloud PBX market
  • Technological advancements in cloud PBX is a threat to security and privacy due to increased cyber-attacks. This is also expected to hamper the cloud PBX market.
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