Hosted Private Branch Exchange Size Analysis and Top Companies
The global hosted private branch exchange market size is anticipated to reach around USD 42.78 billion by 2033 from USD 12.62 billion in 2023, expanding at a CAGR of 12.98% from 2024 to 2033. The top companies operating in the hosted private branch exchange market are Cisco Systems, Inc., Avaya Inc., Mitel Networks Corporation, NEC Corporation, RingCentral, Inc., 8x8, Inc., Vonage Holdings Corp., Microsoft Corporation (Teams), Sangoma Technologies Corporation, Nextiva, Inc., Alcatel-Lucent Enterprise, BroadSoft, Inc. (Now part of Cisco), Panasonic Corporation, ShoreTel (Now part of Mitel), Toshiba Corporation, and Others.
Market Report Covarage
| Report Coverage |
Details |
| Growth Rate from 2024 to 2033 |
CAGR of 12.98% |
| Global Market Size in 2023 |
USD 12.62 Billion |
| Global Market Size in 2024 |
USD 14.26 Billion |
| Global Market Size by 2033 |
USD 42.78 Billion |
| Largest Market |
Asia Pacific |
| Base Year |
2023 |
| Forecast Period |
2024 to 2033 |
| Segments Covered |
By Component, By Organization Size, and By Industry Vertical |
| Regions Covered |
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Hosted Private Branch Exchange Key Players
- Cisco Systems, Inc.
- Avaya Inc.
- Mitel Networks Corporation
- NEC Corporation
- RingCentral, Inc.
- 8x8, Inc.
- Vonage Holdings Corp.
- Microsoft Corporation (Teams)
- Sangoma Technologies Corporation
- Nextiva, Inc.
- Alcatel-Lucent Enterprise
- BroadSoft, Inc. (Now part of Cisco)
- Panasonic Corporation
- ShoreTel (Now part of Mitel)
- Toshiba Corporation
Recent Developments
- In October 2023, Microsoft introduced new AI-driven features for Teams, its cloud-based collaboration platform. These features include real-time transcription and insights into meeting and call data, aiming to enhance efficiency and productivity. They seamlessly integrate with Microsoft Viva, an employee experience platform, to offer additional AI-powered capabilities. These enhancements are now readily available for users.
- In June 2020, RingCentral unveiled a new partner program designed to attract resellers and Managed Service Providers (MSPs). This program equips partners with resources and support to meet customer demands for Unified Communications as a Service (UCaaS) swiftly. The initiative is geared towards helping partners leverage the growing market demand for cloud-based communication solutions.
- In March 2020, Zoom expanded its Zoom Phone service to 11 additional countries, expanding its total supported countries to 17. Additionally, it introduced beta testing in 25 new countries. This expansion offers local phone numbers and Public Switched Telephone Network (PSTN) access in countries like Austria, Belgium, and France, facilitating the transition from legacy phone systems to Zoom's unified communication platform.
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