The Hosted PBX Market was valued at 7.0 billion in 2022 and is expected to grow at a steady rate of around 13.3% in the forecasted period (2023-2030) owing to the Increasing demand for cloud-based services. Hosted PBX, also known as Cloud PBX, refers to a telephone system that is hosted in the cloud rather than on-premises. This means that the hardware and software for the phone system are provided and managed by a third-party provider, rather than being installed and maintained on-site. The Hosted PBX market has been growing rapidly in recent years due to the increasing demand for cost-effective communication solutions.

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Increasing demand for cloud-based services is one of the primary factors driving the growth of the Hosted PBX market. As more businesses shift their operations to the cloud, they are seeking out cloud-based communication solutions that can provide them with advanced features and capabilities without the need for on-premises hardware or infrastructure. This trend towards cloud-based services is expected to continue in the coming years, fueling the growth of the Hosted PBX market and providing businesses with more flexibility and scalability in their communication systems.

Some of the recent launches or developments are:

• In Dec 2022, Leader Computers, an IT distributor, has launched a cloud-based phone system for its channel partners in Australia. The new offering, which is being released under the company’s telco service provider division Breeze Connect, is designed to provide partners with a flexible and scalable solution for their customers’ communication needs.

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Conclusion

Hosted PBX solutions have become increasingly popular among businesses of all sizes in recent years due to their numerous benefits. These benefits include cost savings, flexibility, scalability, and advanced features such as video conferencing and call center capabilities. With the rise of cloud-based technologies, hosted PBX systems offer a more reliable and efficient alternative to traditional on-premises PBX systems. According to the UnivDatos Market Insights analysis, “Hosted PBX Market” report, the global market was valued at USD 7.0 Billion in 2022, growing at a CAGR of 13.3% during the forecast period from 2023 – 2030 to reach USD billion by 2030. 

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