According to the research report titled ‘Europe Hosted PBX Market Forecast 2027 By Organization Size, By Component, By Industry Vertical, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share,’ available with MarketStudyReport, Europe hosted PBX market is slated to generate over USD 2 billion in revenue by the year-end of 2027.

Significant cost reductions facilitated by hosted PBX in telecom infrastructure in terms of maintenance, installation, etc., is prompting this arrangement in multiple businesses, which along with remote working initiatives arisen because of the COVID-19 pandemic are primary determinants aiding the growth of Europe hosted PBX market.

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Moreover, rising demand for cloud services, and search among companies for alternatives to conventional VoIP services are factors further accelerating the industry development. 

In terms of organization size, the large enterprises segment is estimated to record substantial expansion during the projected timeline, owing to swift digitization of operations in various corporations. Cloud PBX system allows businesses to respond to their clients in time irrespective of their location which has been a boon during the pandemic era of remote working, thus facilitating segmental growth. 

Based on component type, the network service vertical of Europe hosted PBX industry is anticipated to develop at 7% CAGR during the study period, on account of massive industrial resettling from traditional PSTN (public switched telephone network) infrastructure to modern IP-based networks. Notably, Internet Protocol (IP) networks are one of the most widely used types of communication that assists in transmitting and receiving messages. 

Concerning the geographical aspect, France industry is poised to rise exponentially during the assessment timeframe, attributed to the gradual shift of companies from conventional phone & data services to high-quality hosted PBX services. Moreover, the telecom sector migrating to IP telephony is generating lucrative opportunities for business in this line of work, which is amplifying the revenue scope of market. 

The established names in Europe hosted PBX marketplace include Nextgen Inc., Blackberry Limited, OneConnect Services Inc., AT&T Inc., NEC Corporation, CenturyLink Inc., Cisco Systems Inc., BT Group plc, and Comcast Corporation among others.