As cited by 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 estimated to expand significantly, surpassing a valuation of USD 2 billion over 2021-2027.
 

Work from home initiatives introduced due to the COVID-19 pandemic are majorly driving Europe hosted PBX market growth. With many businesses instructing their employees to work remotely, there has been a substantial rise in integration of hosted PBX systems, which is propelling the market remuneration scope.
 

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Hosted PBX solutions provide significant reductions in telecom infrastructure costs, such as installation, operation, and maintenance expenses, thereby augmenting the business scope. Moreover, increasing demand for cloud services, as well as rising number of companies seeking alternatives to traditional VoIP services are positively swaying the industry outlook.
 

Based on component type, Europe hosted PBX industry is segmented into solution and service. The service segment is further classified into security service, network service, and managed service. Among these, the network service segment is anticipated to expand at 7% CAGR through 2027, on account of the industrial shift from conventional PSTN (public switched telephone network) infrastructure to contemporary IP-based networks.
 

Considering organization size, the marketplace is categorized into SME (small & medium enterprise) and large enterprise. Among these, large enterprises segment is expected to showcase lucrative growth trends over the estimated timeline, owing to increasing digitization of operations in prominent companies. Moving on to the end user range, the business space is arrayed into BFSI, healthcare, government, retail, and manufacturing sectors.
 

Prominent players in Europe hosted PBX industry are Plantronics Inc., OneConnect Services Inc., Nextgen Inc, NEC Corporation, Comcast Corporation, Cisco Systems Inc., Lumen Technologies Inc. (formerly CenturyLink Inc.), BT Group plc, AT&T Inc., and Avaya Inc. The report provides comprehensive business profiles of these players, along with details of their product/ service portfolios.