North America Hosted PBX Market is expected to reach US$ 10.1 Bn by 2024 from US$ 3.9 Bn in 2016 at CAGR of 12.63% during a forecast period.
North America Hosted PBX Market
North America hosted PBX market is classified by component, service, organization size, vertical, and geography. Based on the component, the market is bifurcated into solutions and services. By services, North America hosted PBX market includes virtual deployment and setup, bandwidth management and optimization, online charging services, emergency call routing services, compliance management services, protocol management services, network traffic management, virtual assistance and support, and configuration and change management. On the basis of organization size, North America hosted PBX market comprises of large enterprises and small and medium-sized enterprises. IT, healthcare, retail, government and public sector, BFSI, education, manufacturing, and others are the various application areas that are considered under the vertical segment of North America hosted PBX market.
Hosted private branch exchange also known as hosted PBX is a telephone exchange system that is built, delivered as well as managed by a third-party service provider. Hosted PBX is usually an IP-based telephony solution that is provisioned and accessed entirely through the Internet. The hosted PBX is also referred to as cloud PBX or hosted voice. The hosted PBX systems in North America offer a wealth of benefits that include low cost, scalability, and redundancy among others. Additionally, these solutions come with standard features comprising of call routing, transfer, call waiting, on-hold music, and more. Hosted solutions are used as they make efficient use of office space, budgets, IT staff, as well as web connectivity.