Telecomunicazioni
Corporate Telephony Market to Grow with Significant CAGR in Coming Years says P&S Intelligence
The corporate telephony market is categorized into banking, financial services, and insurance (BFSI), retail, government, IT, healthcare, and manufacturing, depending on industry. Out of these, the IT category held the largest share in the market in 2020. This is ascribed to the surging adoption of the corporate telephony technology in the IT sector, on account of its simple, flexible, and cost-effective nature.
The corporate telephony market is also divided into key telephony system, internet protocol-private branch exchange (IP-PBX), and wireless private brand exchange, based on technology. Amongst these, the IP-PBX category is predicted to exhibit substantial expansion during the forecast period, due to the various benefits of this technology such as worry-free scalability and robustness.
Geographically, North America dominated the corporate telephony market in 2020. This is credited to the surging competition between industry players, growing use of unified communication systems, soaring investments being made by market players, and the presence of numerous end users in the region.
The players in the corporate telephony market are focusing on developing new products to gain an edge over their rivals.
In March 2021 , Avaya Inc. developed two video devices namely the Avaya Huddle Camera HC010 and the Avaya Vantage K155 equipped with built-in Alexa, with the help of the Avaya Inc. devices as a service (DaaS) offering. These devices can be used by paying a small monthly fee. The main objective behind launching these devices was to enhance workstream collaboration.
International Business Machines Corporation (IBM), NEC Enterprise Solutions, Cisco Systems Inc., Huawei Technologies Co. Ltd., Mitel Networks Corp., Interactive Intelligence Group Inc., Microsoft Corporation, Siemens Aktiengesellschaft, Avaya Inc., and Atos SE are some of the major players in the global corporate telephony market.
Estimated at $15,114.3 million in 2019, the global voice over internet protocol (VoIP) software market is projected to reach $30,441.5 million by 2025, growing at a CAGR of 13.4% during 2020–2025. Among various technologies, session initiation protocol (SIP) trunking held the largest share in the market in 2019.
The emergence of the internet of things (IoT) and machine to machine technologies will drive the optical networking and communication market at 6.2% CAGR during 2020–2030. The market stood at $16.9 billion in 2019 and it is expected to reach $32.8 billion by 2030.
The call center AI market is projected to reach $2,990.1 million by 2024, progressing at a CAGR of 22.6%, during the forecast period. Increasing focus toward omni channel communication with the customer is one of the key trends exhibited in the market.
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Prajneesh Kumar
P&S Intelligence
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