According to the business intelligence report titled ‘Asia Pacific Hosted PBX Market Forecast 2027 By Industry Vertical, By Organization Size, By Component, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Asia Pacific hosted PBX market value is expected to exceed USD 3 billion by the year 2027.

Emergence of internet services and rising adoption of IP based telephony services are some major factors driving Asia Pacific hosted PBS market growth. Also, cost-effective communication leading to extensive usage of smartphones and numerous international calls is impelling the industry share.

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Increasing focus on improving consumer experience and relationships, alongside surge in investments for scalability and efficiency of communication are also fueling overall market size.  

Moving on to component, the solution segment is expected to gain substantial traction and account for nearly 35% market share by the end of 2027, owing to rapid adoption of hosted VoIP that aids in reducing the burden of training and maintenance, which minimizing telephony system related initial investments.

Speaking of organization size, small & medium enterprises (SMEs) segment of Asia Pacific hosted PBX market is slated grow in the coming years, as hosted PBX is comparatively more affordable than traditional services, and promote improved customer support in present trend of workforce mobility.

Meanwhile, the large enterprise segment is also expected to showcase robust growth during the forecast timeline, following the norm of work-from-home as this shift has popularized IP based voice calling solutions through hosted PBX.

Considering industry vertical, the healthcare segment is anticipated to witness a yearly growth rate of 10% during 2021-2027, attributed to augmented usage of the solution in facilitating a secure communication network between healthcare workers, hospitals, and telecommunication devices.

Regionally, India is an upcoming avenue for market expansion during the analysis timeframe, owing to technological advancements and the pervasiveness of cloud-based solutions. For instance, in February 2020, CloudConnect Communications Pvt. Ltd. introduced a novel cloud based mobile PBX and unified communication system based on the PaaS model to facilitate call location tracking, business process integration, and audio/video conferencing.

Leading companies operating in Asia Pacific hosted PBX market include Ozonetel Communications Pvt. Ltd., NextGen Inc., NEC Corporation, Mitel Networks Corporation, Comcast Corporation, Cisco Systems Inc., Lumen Technologies Inc. (previously CenturyLink), BT Group plc, Avaya Inc., AT&T Inc., 8x8 Inc., and 3CX.