Europe cloud PBX market expected to grow from US$ 1.37 Bn in 2018 to US$ 4.58 Bn by the year 2027. This represents a CAGR of 14.6% from the year 2018 to 2027.
The cloud PBX lays the foundation for technological advancements in organizations by synchronizing a wide range of communication and collaborations tools; also, they enable the organizations to integrate with their critical business applications at a broader level. With the help of unification of numerous locations amid a business firm, for instance, the unification of itinerant workers under a single congregated network, the IP telephony offers flexible and advanced features for the communication process. The ability of the cloud PBX to provide its users with seamless connectivity across the globe with minimal disruptions enables the organizations to enhance their performance and elevate their profitability. Because an effective communication such as audio/video conference, and web conference is considered as a critical asset in business, implementation of telephony system that operates on internet, not only facilitates better and hassle-free communication but also reduces the cost of ownership, adding to the factor that has influenced demand growth and are expected to continue during the forecast period.
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Currently, Germany is dominating the Europe cloud PBX market, which in turn boost the demand for cloud PBX. This is due to the reason that the region is highly advanced in terms of technology as well as the economy. Germany remains the key market for Europe cloud PBX due to the changing economies and continuous technological developments in the country. Germany Cloud PBX market is dominated by the SMEs. The increasing number of SMEs in Germany is fueling demand. Moreover, the government initiatives for the improvement of IT infrastructure and adoption of advanced technologies are having a positive impact on market growth. The figure given below highlights the revenue share of Russia in the Europe cloud PBX market in the forecast period:
EUROPE CLOUD PBX MARKET – SEGMENTATION
Europe Cloud PBX Market by Enterprise Size
- Large Enterprises
Europe Cloud PBX Market by End-User
- IT & Telecom
Europe Cloud PBX Market by Country
- Rest of Europe
- 3CX, Inc.
- 8×8, Inc.
- AT&T INC
- Cisco System, Inc.
- Comcast Corporation
- Microsoft Corporation
- RingCentral, Inc.
- Sors Global
- Voyce Ltd
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