Hospitality Industry Benefit from Integrated Communication Platforms in Cloud PBX Market, Need for Expanding Business Reach Drives Adoption

TMR

- Cloud PBX to meet the demand for evolving customer communications in hotels, cloud hosted VoIP systems to emerge as new framework to expand business reach

- Cloud PBX market to clock robust CAGR of ~14% from 2020 to 2030, smooth acceptance of new technology key hurdle for stakeholders

ALBANY, N.Y., Feb. 24, 2021 /PRNewswire/ -- Cloud-hosted branch exchange (PBX) system is a major technological advancement in business phone system traditionally used by organizations. Dispersed organizations with branches spread across the world seek integrated communication platforms to meet the need for clear and reliable communication for their customers as well among their employees. Integrated communication platforms harboured by cloud PBX have thus become go-to platform for numerous verticals including the BFSI, retail, healthcare, government, and real estate. Growing demand for unified communication solutions have stridently propelled the demand for services in the cloud PBX market. Features made possible through voice over Internet Protocol (VoIP) technology underscore the benefits of cloud PBX.

The cloud PBX market is projected to touch the revenue mark of US$ 68.3 Bn by 2030-end. Rapidly expanding array of cloud-based software solutions, especially that are integrated with Unified Communications as a Service (UCaaS), will enable service providers meet the clients' need for next-gen communication platforms.

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Key Findings of Cloud PBX Market Study

• Hospitality Industry Adopt Cloud PBX to meet Emerging Needs of Communication

The hospitality industry has been witnessing unprecedented challenges due to COVID-19 outbreaks all over the world in the past few months. Cloud-based PBX has raised their expectations in meeting the advanced communication needs of their customers. Ranging from offering high-quality voice and call recording to intelligent call routing, service providers in the cloud PBX market are expanding their portfolio of integrated communication platforms. Adoption of artificial intelligence (AI) and modern learning algorithms are likely to pave way to understanding the sentiment of the customers.