The hosted private branch exchange (PBX) market will register a CAGR of over 14% by 2023

NEW YORK, March 26, 2019 /PRNewswire/ — About this market

An increase in the number of business processes and growing global network of organizations have resulted in the need for efficient communication systems within the organization and with clients. Hosted PBX vendors are introducing automation and flexible techniques in their offerings for the end-user industries over the cloud network to enhance their productivity. The introduction of next-generation network monitoring helps organizations to passively collect data about the traffic on their network, and servers and then automatically discover all applications. This allows the organization to monitor its performance and positively impacts the overall customer experience. The companies are increasingly investing in network technologies. There is a need to establish a seamless connection for efficient communication among machines, systems, and people to implement these technologies in the industrial framework. Thus, hosted PBX has become a strategic priority for several industrial organizations. Analysts have predicted that the hosted private branch exchange (PBX) market will register a CAGR of over 14% by 2023.

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Market Overview

Rise in popularity of WA

Service-oriented architecture (SOA) provides IT frameworks for entities to manage their communication infrastructure with greater flexibility. It helps organizations implement hosted PBX solutions in a simplified manner with less implementation time. With the growing market competition for innovative products and services, SMEs require IT frameworks to enhance the time-to-market of products and services.

Bandwidth limitations

Enterprises are, therefore, needed to decide on their bandwidth requirements after carefully assessing their data volumes and business needs. The selection of a vendor that offers flexible hosted PBX solutions has become essential for organizations. The present scenario (related to bandwidth limitations) can worsen, particularly for enterprises registering unstable growth in call traffic.

For the detailed list of factors that will drive and challenge the growth of the hosted private branch market during the 2019-2023, view our report.

Competitive Landscape

The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.

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