Virtual PBX Featured Article

Global Hosted PBX Market to See Billion Dollar Growth

April 18, 2019

Hosted Private Branch Exchange (PBX) makes many of the virtual offerings available on the market today possible.These offerings are eliminating the need for on-premises installations and maintenance, and making it possible for businesses to add new, innovative service offerings that scale as they grow.




Now, with technologies like artificial intelligence being added to the mix, there’s an uptick happening in the hosted PBX market. One that’s predicted to drive billions of dollars in sales over the next few years.

According to a recently released report from Technavio, from 2019-2023, it forecasts that the hosted PBX market will grow at a CAGR of over 14 percent and reach $4.23B in that time period.

Bridging the gap between yesterday’s virtual office benefits and today’s advanced capabilities are growing network infrastructure capabilities and a push to utilize AI in contact centers.

Using new intelligent data and virtual assistants, its possible to bring new innovations to the contact center that improve customer satisfaction levels, drive efficiency and make 24/7 operations possible.

When it comes to global businesses, hosted PBX also brings with it the promise of more efficient communications systems and virtualized networks that can better protect from cyber threats and offer continual improvements.

Then there’s also the increase in wireless networks that’s driving the hosted PBX market forward.

According to an analyst at Technavio, “The popularity of wireless PBX system has increased significantly over the years and they have amplified cloud network consumerization across verticals. Such a digital ecosystem that is engulfing enterprise and consumer technologies demands the incorporation of hosted PBX capabilities for the better operation of the entire system.”

Just how much innovation will continue to be introduced thanks to hosted PBX in the future contact center and enterprise remains to be seen. One thing's for sure though, smarter, better business is on the way!




Edited by Maurice Nagle


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