The US Cloud PBX market was valued at US$ 1,299.0 million in 2019 and is projected to reach US$ 3,262.0 million by 2027; it is expected to grow at a CAGR of 10.8% from 2020 to 2027. The ability of the cloud PBX to provide its users with seamless connectivity across the globe with minimal disruptions enables the organizations to enhance their performance and elevate their profitability. Because an effective communication such as audio/video conference, and web conference is considered as a critical asset in business, implementation of telephony system that operates on internet, not only facilitates better and hassle-free communication but also reduces the cost of ownership, adding to the factor that has influenced demand growth and are expected to continue during the forecast period. In terms of enterprise size, the medium enterprises segment led the US cloud PBX market in 2019.Medium enterprises are considered as ideal customers of cloud PBX systems for several reasons.
One of the key reasons is the deployment of enterprise grade phone system features at lesser cost.Cloud PBX is budget friendly for medium enterprises as the companies are only required to pay monthly fee, which includes phone service, phone system applications, as well as equipment, instead of owning and maintaining own PBX system.
Furthermore, cloud PBX offers online PBX management tools that enable the companies to make changes to the phone system without having to call the provider. The overall US cloud PBX market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the US cloud PBX market. Comcast Corporation, Microsoft Corporation, and Avaya Inc. are among the key players operating in the US cloud PBX market.
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Number Of Enterprises
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