The global IP PBX market is expected to be worth US$ 28,328.4 million in 2022, with a CAGR of 10.5% to be worth US$ 76,645.8 million from 2022 to 2032. The rising demand for cloud-based PBX solutions is fueling growth. The IP PBX market grew at a CAGR of 10.1% between 2016 and 2021.
IP PBX market is increasing at a faster pace due to launch of new applications that are suitable for various large industries such as the healthcare, education sector and hospitality sector. The IP PBX is a technology-driven by IP telephony for organizations that are provisioning new communication technologies.
IP PBX is a technology which allow users to switch calls between VoIP or IP users and help them in sharing a certain number of external phone lines. This technology includes features such as support to VoIP, Voice messaging and allow user to forward these voice messages to email, allow mobile convergence, phone conferencing, multi-party conferencing, and includes call history and other details.
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IP PBX Market: Drivers and Challenges
The major factor driving the adoption of IP PBX technology is better uptime and support. Many hosted IP PBX solution providers have started providing improved services and allow user to connect with another server without getting disconnected. Other driving factors are integration of IP PBX technology with other advance communication technologies such as unified communication software for video and voice calling and other.
This technology also includes integration with a business application such as customer relationship management to help enterprises to make better decision.
The key challenge for IP PBX solutions is to implement or to manage its solution. It is quite challenging to manage IP PBX due to high cost of implementation. This technology requires hardware as well as software that can be supported by other advance technologies such as VoIP and call conferencing. This increases the cost of its hardware and software. IP PBX technology can be easily exposed to hackers due to which it is challenging to secure all the data and call history.
Key Contracts
In October 2016, Codepi, a French telecom provider launched its PBX trunking and unified communication solutions in partnership with Centile ISTRA platform. This new launched solution will help Codepi clients to use collaboration and communication tools with new features including VoIP.
In October 2016, 3CX, a unified communication provider has entered into the partnership with NTES, an Ireland based IT support specialist. This partnership will help 3CX to provide VoIP PBX to provide end-users across Ireland the opportunity to achieve tremendous cost savings on their phone systems while simultaneously streamlining communications.
In IP PBX solution market there are many vendors some of them are Huawei Technologies, Toshiba Corporation, Mitel Networks Corporation, NEC Corporation, Microsoft Corporation, Cisco systems and others.
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Regional Overview
Presently, North America and Europe is holding the largest market share for IP PBX solution market due to high adoption of unified communication technologies and VoIP technology in many large industries such as hospitality, BFSI and healthcare. The adoption of cloud based platform is also impacting the market for IP PBX solution in a positive manner as large solution providers have started providing these IP PBX solutions on cloud to small enterprises which is less in cost.
In Europe region, the market for IP PBX solution is witnessing high growth rate due to the increasing demand for video conferencing platforms among businesses that can be self-hosted, cloud hosted and have multi-tenant deployment option.
The Asia Pacific region is following the Europe region in IP PBX solution market. This market is expected to have the highest growth rate in coming years due to the adoption of cloud based offerings significantly.
The report covers exhaustive analysis on
IP PBX solution market Segments
- Market Dynamics
- Historical Actual Market Size, 2014 – 2016
- Market Size & Forecast 2017 to 2027
- Value Chain
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Market Drivers and Restraints
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Regional analysis for IP PBX Market includes development of these systems in the following regions
- North America
- Latin America
- Asia Pacific
- Japan
- Middle East and Africa
IP PBX Market: Segmentation
Segmentation on the basis of Types:
- Hardware
- Software
- Service
