The reduction in the total cost of ownership (TCO) is the primary factor driving the global virtual PBX market. Fortune Business Insights in a report, titled “Virtual PBX Market Size, Share and Global Trend by Component (Solution & services), By Product (Network Traffic Management, Virtual Assistance and Support and others) and Geography Forecast till 2025” reveals that the market’s growth is backed by the rising adoption of telco cloud computing. A virtual PBX or private branch exchange system is built around a voice over internet protocol (VoIP) technology, helping companies to improve their efficiency and optimization. High adoption of unified communication technology offering several types of communication platforms pushed growth in the market.
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Low Cost of OPEX and TCO Creates Growth Opportunities for Market in North America
North America is likely to remain strong in the global virtual PBX market during the forecast period between 2019 and 2016. Government implemented guidelines ensuring lower costs of OPEX or operating expenses and TCO are driving the market in North America. Furthermore, adoption of virtual PBX system improves the customer satisfaction and employee productivity. The U.S. is expected to account for a considerable share in the global market backed by the presence of large players. Rapid technological advancements such as high adoption of cloud-based technologies are expected to drive the market in North America.
The market in Asia Pacific is anticipated to rise at a rapid pace in the forecast years. This is mainly attributable to the increasing use of cloud and internet solutions. In addition to this, enhancements in IT infrastructure across emerging countries are expected to create growth opportunities for the market in the coming years.
Top Players List:
- Alpha Telecom Services, C.A.
- Voysis IP Solutions
- Birch Communications
- TeraGo Networks Inc.
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- By Component
- By Product
- Network Traffic Management
- Virtual Assistance and Support
- Emergency Call Routing Services
- Configuration and Change Management
- Bandwidth Management and Optimization
- Online Charging Services
- Virtual Deployment and Setup
- Protocol Management Services
- By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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