From GlobeNewswire: 2024-11-20 10:00:00

The Hosted PBX Market in New York is driven by cloud-based solutions, remote work trends, and unified communication needs. SMEs are adopting Hosted PBX for affordability and flexibility. The global market is projected to grow to $47.61 billion by 2031 with a CAGR of 17.1%. North America leads in adoption, followed by Europe and Asia-Pacific. Cisco, AT&T, and other key players are driving innovations in this market.

The demand for enterprise mobility and SME adoption are key drivers in the Hosted PBX market. These systems support remote work and provide cost-effective solutions. In North America, the market is robust, while in Europe, there is high adoption of advanced communication technologies. The Asia-Pacific region is experiencing rapid growth due to digital transformation and cloud adoption. Latin America and Middle East & Africa are also witnessing growth in the Hosted PBX market.

The global Hosted PBX Market is segmented based on components, applications, and end-users. The Solution segment holds the highest market share, with Unified communication and collaboration being the dominant application. The BFSI sector has the highest market share among end-users. North America leads in market share and is expected to continue growing. Key players in this market include Cisco Systems, AT&T, and Avaya, among others.

Recent developments in the Hosted PBX market include collaborations between companies like Cisco and AT&T to support remote work environments. The market is segmented based on components, applications, and end-users, with North America leading in market share. Straits Research provides actionable market research data for decision-makers across various sectors globally. Contact them for detailed insights and reports on the Hosted PBX market.



Read more at GlobeNewswire: Hosted Pbx Market Size to Worth USD 47.76 Billion by 2032 |