Hosted PBX Market Trends

Growth Drivers

• Upsurge in Remote Learning – Students could access course materials and communicate with teachers from any location that has an internet connection by using hosted PBX to promote learning. In total more than 2 million students are pursuing their higher education through online learning, globally.
• Growth in E-commerce Industry – In order to gain the trust and loyalty of their clients, e-commerce enterprises heavily rely on customer service. For customer service teams, hosted PBX could offer a dependable and adaptable phone system that would enable them to answer queries, address problems, and offer high-quality customer service.
• Growing Penetration of Internet – Businesses may use their phone system from any location with an Internet connection as a result of hosted PBX which is built on cloud-based technology. These companies need to be flexible since they may need to swiftly scale up or down their phone systems to accommodate shifting demands or if they have personnel that work across several locations.

Challenges

• Security Concerns Associated – Since hosted PBX systems could be accessed via the internet, unauthorized access is a possibility. Hackers might take advantage of system flaws to obtain private information or place unauthorized calls, which could incur expensive fees for the company. Moreover, phishing attacks may be used by cybercriminals to deceive consumers into disclosing login credentials or other sensitive data. They might then employ this information to place unauthorized calls or acquire access to the hosted PBX system. Additionally, DoS attacks could be used to flood the hosted PBX system with traffic, which would eventually cause it to crash or stop functioning. This could seriously harm corporate operations and result in losses.
• Complexity of migration is set to hamper the growth of market
• Lack of Customization is Estimated to Restrict Market Growth in Upcoming Period.