Virtual PBX Featured Article

Hosted PBX Growth Explodes, VoIP Growth Meets Expectations

November 11, 2013

By Mae Kowalke - Virtual PBX Contributor

Yes, it is official: VoIP is growing as fast as analysts have been predicting.

New data from industry watcher Infonetics Research show that earlier forecasts about the growth of VoIP have been on target, which VoIP and unified communications revenue up 3 percent in the first six months of 2013. This brings the total value of the global VoIP and unified communications market to $32.11 billion, according to Infonetics.

These new estimates are in line with the compound annual growth rate of 7 percent over the next four years that had been previously predicted.

Particularly strong growth has come from the hosted PBX segment, according to Infonetics, with larger organizations migrating from on-premise telecom services to cloud solutions to save money and improve flexibility.

Globally, North America leads the growth with a 23 percent increase in deployment of SIP trunking services so far this year over that of last year, according to Infonetics.

The benefits of having turnkey PBX infrastructure in the cloud by a third-party provider has freed businesses from restrictive internal systems and let them broaden their horizons with VoIP and unified communications.

This can be done without an investment infrastructure, too.

Previously phone system upgrades required huge investments in planning and hardware spending before their potential could be reached. But with hosted solutions, the latest telephony can be put into place immediately—and often for a fraction of the cost of their old network spend.

Further, businesses of all sizes can take advantage of VoIP and hosted PBX, giving the industry a large market for services.

Report spokeswoman Diane Myers said that the size of the business is irrelevant when it comes to harnessing newer communications platforms since the scalability of remotely hosted services powered by cloud computing lets everyone from the small business to the multinational take advantage of the change in technology.

While the market is growing at a steady pace and meeting analyst expectations, this accessibility and universality means that the market still has plenty of room to grow.

The VoIP revolution is far from done.

Edited by Alisen Downey


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