Increasing IT Investments Boosting Corporate Telephony Market Growth

A number of factors, such as the surging deployment of unified communication systems, increasing investments in corporate telephony, and rising need to improve productivity and reduce operational cost and time, are expected to drive the growth of the corporate telephony market during the foreseeable period (2021–2030). Moreover, the market is witnessing the increasing incorporation of the internet of things (IoT) with communication systems. IoT improves mobility and enables access to data virtually, by allowing data exchange among various divisions over a wireless network. This leads to better work scheduling and improved communication.

The surging deployment of unified communication systems is one of the main factors boosting the growth of the corporate telephony market. Organizations are rapidly adopting these systems to improve their communications and reduce their operational costs. Moreover, unified communication systems help organizations in improving the user experience, enhancing productivity, and increasing mobility and flexibility. These systems also act as an auto attendant for incoming calls and offer emergency services.

Furthermore, the increasing investment for the development of corporate telephony is driving the market growth. Many organizations and investors from the private and public sectors are showing interest in corporate telephony to streamline the communication infrastructure efficiently and make coordination easy. Thus, several IT organizations, such as IBM Corporation, Mitel Networks Corp., Cisco Systems Inc., NEC Enterprise Solutions, Interactive Intelligence Group Inc., Huawei Technologies Co. Ltd., and Microsoft Corporation, are investing heavily in this technology.

Corporate Telephony Market

Based on technology, the corporate telephony market is classified into internet protocol-private branch exchange (IP-PBX), wireless private branch exchange, key telephone system, and others. The IP-PBX category is expected to witness significant growth during the forecast period. This can be ascribed to the several advantages offered by the IP-PBX technology, such as lower operating costs, increased agility, high quality of communication, flexible call routing, and robustness and worry-free scalability. These features help organizations in enhancing the productivity of their employees.

Moreover, on the basis of industry, the corporate telephony market is categorized into information technology (IT), retail, government, manufacturing, healthcare, banking, financial services, and insurance (BFSI), and others. Among these, the IT category held the largest share in the market in 2020, which is attributed to the escalating developments in telephony technology. Moreover, corporate telephony supports in sustaining a smooth workflow in the IT sector by offering efficient communication. Moreover, it is a simple, cost-effective, and flexible technology.

According to P&S Intelligence, the North American corporate telephony market accounted for the largest share in 2020, globally. This was mainly due to the presence of several major industry players, surging adoption of unified communication systems by several organizations, increasing deployment of conference calling and desk-to-desk calling solutions, large number of end users, mounting competition among the players, and rising investments by the IT and BFSI industries in these solutions in the region.

Thus, the surging adoption of unified communication systems and the increasing investments in the development of corporate telephony are projected to propel the market growth in the coming years.

SOURCE: P&S Intelligence