According to the research 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 is anticipated to exceed a valuation of USD 3 billion by 2027.
 

Credible sources cite that ever-increasing internet penetration, and growing usage of IP-based phone services, along with adoption of smartphones and international voice calls, accompanied by cost-effective communication options are the major growth catalysts for Asia Pacific hosted PBX market.

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For the unversed, hosted PBX services have proven to be effective in personalising customer experiences and increasing productivity. Companies are increasingly investing in hosted PBX systems for scalability and efficiency as customer relationship management becomes more popular, thereby contributing to industry expansion.

Based on component, the solution segment is slated to hold 35% revenue share by 2027, owing to growing interest of small and large enterprises in hosted VoIP to reduce maintenance and training costs, and eliminate the need for upfront telephony system investments.

In terms of organization size, the large enterprise segment is expected to hold considerable market share by 2027, on account of the rising trend of working from home, and integration of IP-based voice calling solution.

Additionally, small and medium enterprises (SMEs) segment of is projected to contribute to Asia Pacific hosted PBX market remuneration, as this system is cost-effective alternative to traditional offerings.

On the basis of industry vertical, the healthcare segment is reckoned to progress at a CAGR of 10% through 2027, owing to growing investments in IP PBX solutions to safeguard communication infrastructure among hospitals, telecommunication equipment, and healthcare staff.

Regionally, India has emerged as a lucrative growth avenue for the industry in the recent past, due to the shifting focus towards technology developments and cloud-based solutions. Whereas the China is likely to invest in cutting-edge IP telephony services to manage the entirety of an organization's communications, thus aiding the industry progress.

The key players in Asia Pacific hosted PBX marketplace are Ozonetel Communications Pvt. Ltd., Nextgen Inc., NEC Corporation, Mitel Networks Corporation, Comcast Corporation, Cisco Systems Inc., Lumen Technologies Inc. (formerly CenturyLink Inc.), BT Group plc, Avaya Inc., AT&T Inc., 8x8 Inc., and 3CX.