The global IP PBX market is anticipated to be valued at USD 30,821.3 million in 2023. The demand for IP PBX is likely to rise at a CAGR of 10.4%, with a valuation surpassing USD 83,146.8 million by 2033.Growth is attributed to the increasing demand for cloud-based PBX systems. From 2018 to 2022, a CAGR of 8.3% was registered for the IP PBX market. was registered for the IP PBX market.
| Data Points | Key Statistics |
|---|---|
| Growth Rate (2018 to 2022) | 8.3% CAGR |
| Projected Growth Rate (2023 to 2033) | 10.4% CAGR |
| Expected Market Value (2023) | USD 30,821.3 million |
| Anticipated Forecast Value (2033) | USD 83,146.8 million |
IP PBX market is increasing at a faster pace due to the launch of new applications that are suitable for various large industries such as the healthcare, education sector, and hospitality sector. The IP PBX is a technology-driven IP telephony for organizations that provide new communication technologies.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Growing Need for Voice Solutions Among Enterprises to Drive the IP PBX Market
The increasing demand for technologically advanced voice solutions among enterprises for improving IP telephonic network performance is driving the IP PBX market. An IP PBX system provides easy networking architecture and reduces expenses on networking products such as analog wiring systems and EPABX systems. easy networking architecture and reduces expenses on networking products such as analog wiring systems and EPABX systems.
The major factor driving the adoption of IP PBX technology is better uptime and support. Many hosted IP PBX solution providers have started providing improved services and allowing the user to connect with another server without getting disconnected. Other driving factors are the integration of IP PBX technology with other advanced communication technologies, such as software for video and voice calling and others.
This technology also includes integration with business applications such as customer relationship management to help enterprises to make better decisions.unified communication software for video and voice calling and others. This technology also includes integration with business applications such as customer relationship management to help enterprises to make better decisions.
High Cost of Implementation May Hinder the IP PBX Market Growth
The key challenge for IP PBX solutions is to implement or manage its solution. It is quite challenging to manage IP PBX due to the high cost of implementation. This technology requires hardware and software supported by other advanced technologies, such as VoIP and call conferencing. This increases the cost of its hardware and software. IP PBX technology can be easily exposed to hackers, and it is challenging to secure all the data and call history.
High installation costs of IP PBX systems restrain the demand for these systems among small and medium enterprises. Small and medium enterprises cannot afford IP telephonic systems as intercom solutions. This factor is expected to hamper the IP PBX market during the forecast period.
Principal Consultant
High Adoption of Communication Technologies in The Region to Boost the Growth of the Market
North America holds a large market share of the IP PBX market due to the high adoption of unified communication technologies and VoIP technology in many large industries, such as hospitality, BFSI, and healthcare. North America accounts for a 26.5% global IP PBX market share.
The adoption of a cloud-based platform is also positively impacting the IP PBX market as large solution providers have started providing these IP PBX solutions on the cloud to small enterprises, which is less costly. these IP PBX solutions on the cloud to small enterprises which is less in cost.
North America is expected to lead the global market in terms of revenue during the forecast period due to the presence of major players in the region. For instance, RingCentral, Inc., and Mitel announced a strategic partnership to provide Mitel’s global customer base with a seamless migration path to RingCentral’s Message Video Phone™ (MVP®) cloud communications platform.
Technological Advancement in The Region to Drive the Growth of the Market in Europe
In Europe, the market for IP PBX is witnessing a high growth rate due to the increasing demand for video conferencing platforms among businesses that can be self-hosted, cloud-hosted, and have multi-tenant deployment options. As per FMI, Europe accounted for 23.2% of total IP PBX demand in 2022.
Growth in Europe is expected to be driven by factors such as higher internet penetration and rising usage of advanced IP PBX systems and platforms by many enterprises in the country. The growing number of SMEs and increasing organization digitalization are projected to drive the IP PBX market in Europe. Enterprises in the country. The growing number of SMEs and increasing digitalization in organizations are projected to drive the IP PBX market in Europe.
The region has witnessed huge investments in wireless technologies and the rapid adoption of trending technologies like cloud, IoT, mobility, and UC. This drives the critical need for reliable connectivity and communication. Also, increasing adoption of advanced communication equipment across all industries in the region to enhance the communication experience of customers.
Huge investments in wireless technologies and the rapid adoption of trending technologies, such as cloud, IoT, mobility, and UC, which drive the critical need for reliable connectivity and communication. Also, increasing adoption of advanced communication equipment across all industries in the region to enhance the communication experience of customers.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
| Country | India |
|---|---|
| Factors Influencing Growth | Rapid development in technology and growth of communication infrastructure. Growth of small and medium-sized enterprises (SMEs). Development of cost-effective communication solutions. |
| Statistics | Anticipated to Witness a CAGR of 16.5% through 2033. |
| Country | China |
|---|---|
| Factors Influencing Growth | The popularity of flexible cloud-based solutions. Rise in the telecom industry with an efficient communication system. The presence of prominent and established players. |
| Statistics | Anticipated to Expand at a CAGR of 13.4% from 2023 to 2033. |
| Country | Japan |
|---|---|
| Factors Influencing Growth | Government initiatives to promote technological adoption. Local vendors facilitate regional consumer preferences. Increased investments in the technology and IT sectors. |
| Statistics | Accounted for a Global Market Share of 2.1% in 2022. |
Asia Pacific is expected to offer a significant opportunity to the IP PBX market during the forecast period. The technological advancements in the region, along with the increasing trend of adopting VoIP solutions and services, are expected to provide added benefits to the growth of hosted PBX market.
Also, increasing initiatives undertaken by private companies and government agencies for the enhancement & development of wireless communications infrastructure and the rising adoption of cloud-based data transfer services are projected to bolster the sales of IP PBX over the forthcoming years.
The new entrants in the IP PBX market are continually indulging in several collaborations and highly investing in research and development activities to provide more convenient solutions to industry verticals. Some major startups leading the market development are Biacom Systems, Porta One, Matrix Telecom security, Nextiva, Xorcom, and Grandstream Networks, Inc.
Some key participants in the global IP PBX market include Codepi, NTES, 3CX, Huawei Technologies, Toshiba Corporation, Mitel Networks Corporation, NEC Corporation, Microsoft Corporation, and Cisco Systems, among others.Codepi, NTES, 3CX, Huawei Technologies, Toshiba Corporation, Mitel Networks Corporation, NEC Corporation, Microsoft Corporation, and Cisco Systems among others.
Due to the presence of such a high number of participants, the market is highly competitive. While global players such as Huawei Technologies, Toshiba Corporation, and Mitel Networks Corporation account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in Asia Pacific.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 10.4% from 2023 to 2033 |
| Expected Market Value (2023) | USD 30,821.3 million |
| Anticipated Forecast Value (2033) | USD 83,146.8 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Mexico, Brazil, Germany, Italy, France, United Kingdom, Spain, Russia, China, Japan, India, South Korea, Australia, Saudi Arabia, South Africa, UAE, Israel |
| Key Companies Profiled | Codepi; 3CX; NTES; Huawei Technologies; Toshiba Corporation; Mitel Networks Corporation; NEC Corporation; Microsoft Corporation; Cisco Systems; RingCentral |
| Customization | Available Upon Request |
The IP PBX market is anticipated to reach a valuation of USD 83,146.8 million by 2033.
North America is expected to be a lucrative growth region by 2033.
Codepi, 3CX, NTES, Huawei Technologies, Toshiba Corporation, NEC Corporation, and Microsoft Corporation are some of the prominent market manufacturers. 3CX, NTES, Huawei Technologies, Toshiba Corporation, NEC Corporation, and Microsoft Corporation are some of the prominent market manufacturers.
The market is expected to expand at a CAGR of 10.4% from 2023 to 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Software 5.2. Hardware 5.3. Services 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 6.1. North America 6.2. Latin America 6.3. Western Europe 6.4. Eastern Europe 6.5. South Asia and Pacific 6.6. East Asia 6.7. Middle East and Africa 7. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Codepi 16.2. 3CX 16.3. NTES 16.4. Huawei 16.5. Toshiba Corporation 16.6. Mitel Networks Corporation 16.7. NEC Corporation 16.8. Microsoft Corporation 16.9. Cisco Systems 16.10. RingCentral 17. Assumptions & Acronyms Used 18. Research Methodology
Explore Technology Insights
View Reports
IP PBX Market
