LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global cloud-based PBX market to grow at a CAGR of over 15% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global cloud-based PBX market for 2017-2021. To determine the market size, the study considers revenue generated from small and medium-sized enterprises and large enterprises.
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The global cloud-based PBX market is a part of the global voice over internet protocol (VoIP) market. The Americas is the largest geographical market for cloud-based PBX is also forecast to generate the highest incremental growth in the forecast period.
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One of the key factors driving the American cloud-based PBX market is the large-scale development of LTE network infrastructure. Also, the advances in 5G technology and increasing penetration of internet of things will create additional demand.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global cloud-based PBX market:
- Implementation of cloud-based PBX reduces total cost of ownership (TCO)
- Growing adoption of cloud-based solutions
- High operational flexibility
Implementation of cloud-based PBX reduces total cost of ownership (TCO)
“Cloud-based PBX provides an integrated voice and data network, thus reducing the TCO by eliminating infrastructure and maintenance redundancies. This allows for an easy integration of data elements and client devices due to the presence of a single network for voice, data, and video transmission,” says Abhishek Sharma, one of the lead analysts at Technavio for cloud computing research.
Advanced client or server services also enable the provision of VoIP systems and devices to be managed remotely. Cloud-based PBX solutions have repetitively demonstrated greater cost-effectiveness than traditional voice networks, which increases the cost or benefit ratio, efficiency, and flexibility in implementation, thus driving their adoption.
Growing adoption of cloud-based solutions
The rise in the adoption of cloud-based solutions is streamlining and making business operations seamless and efficient. Sangoma, one of the prominent vendors in cloud-based communication system, offers customizable cloud-based telephony services that use feature-rich unified communications solutions. Additionally, adoption of session initiation protocol (SIP) trunking is growing rapidly due to its inherent flexibility, which enables the purchase of additional bandwidth.
High operational flexibility
The cloud-based PBX is largely focused via Wi-Fi industrial routers due to high-speed data connections, which allow enterprises to make decisions and conduct meetings on the go, irrespective of the networks. In circuit-switched voice networks, different layers are disaggregated into separate components in IP-based networks, which allows the system, applications, and services to be more dynamically designed, integrated, substituted, and managed in the overall system whenever required.
“The cloud-based functions on extensible SIP involve flexible and scalable technology, which is highly suited for many useful scenarios, applications, and infrastructures. SIP results in simplified interoperability between separate systems and reduces operational costs,” says Abhishek.
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