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.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/virtual-pbx-market-100296
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.
Request a Sample Copy of the Global Market Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/virtual-pbx-market-100296
Key Market Driver – Rising adoption of telco cloud computing and adoption of Advanced Call Routing technology
Key Market Restraint – Installation and regular update of incompatible software
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
3CX Ltd. Designed a New PBX System for Easy Deployment of Virtual PBX System
Some of the leading players operating in the global virtual PBX market are Alpha Telecom Services Inc., 3CX Ltd., RingCentral, Inc., AllStream, Inc., Voysis IP Solutions Inc., BCE Inc., Mitel Networks Corporation, BroadSoft, Inc., 8×8, Inc., Digitcom, TeraGo Networks Inc., and Birch Communications, Inc. Several leading players are planning to adopt strategies in order to increase their operational efficiency and survive competition. Moreover, majority of the players are expected to adopt cloud-based solutions as one of their strategies. In addition to this, some companies have launched new products to strengthen their product portfolio.
For instance, Virtual PBX.com, Inc., launched VirtualPBX Web Phone enabled with TrueACD technology in 2018. This product is a cloud communication tool and offers services such as advanced departmental queuing, unlimited call handling, and video conferencing.
Another company called 3CX Ltd. developed a unified communication (UC) PBX in 2018. This product allows organisations to easily deploy virtual PBX system without any complex hardware installation.
Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/virtual-pbx-market-100296
Pre Book Virtual PBX Market Report @ https://www.fortunebusinessinsights.com/checkout-page/100296
Other Exclusive Reports:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123ac
APAC : +91 744 740 1245
Email: [email protected]