Overview of the global cloud-based PBX market
Technavio’s market research analyst predicts the global cloud-based private branch exchange (PBX) market to grow steadily at a CAGR of above 15% by 2021. One of the primary drivers for this market is the implementation of cloud-based PBX, which reduces the total cost of ownership (TCO). The cloud-based PBX enables data traffic and voice communication traffic integration into a single network to reduce the total cost of ownership (TCO) associated with a combined voice or data network. The integration of multiple media types such as voice, data, and video into a single network eliminates infrastructure and maintenance redundancies, which also minimizes capital and operational costs. Also, cloud-based PBX increasingly demonstrates greater cost-effectiveness than traditional voice networks and increases the cost or benefit ratio, efficiency, and flexibility in implementation.
One of the latest trends gaining traction in this market is the development of backend analytics which is becoming a dominant element of cloud-based PBX. Cloud-based analytics is playing a major part in cloud computing and VoIP worldwide, and backend analytics has become a major component of the VoIP cloud-based PBX model. It has the capability to offer data that are required for businesses to enhance their processes and increase efficiency. Backend analytics is a tool that offers the foundation for businesses to ensure the competitive edge in a highly competitive enterprise market.
Competitive landscape and key vendors
Overview of the cloud computing market in Latin America
Market research analysts at Technavio have predicted that the cloud computing market in Latin America will grow steadily during the next four years and post an impressive CAGR of about 29% by 2020. This market research analysis identifies the rising popularity of service-oriented architecture (SOA) as one of the primary factors that will have a positive impact on the growth of the cloud computing market. SOA provides an IT framework that allows organizations manage their IT infrastructure with greater flexibility and also helps them reduce the time required for implementing cloud-based solutions. The constantly increasing competition to provide innovative products and services will induce SMBs to adopt IT framework that provide faster time-to-market for their products and services. Additionally, SOA solutions also allow enterprises to connect with their channel partners and stakeholders on an integrated platform and help them reduce their IT expenditures, allowing small businesses to grow exponentially over a period of time. Since cloud services help organizations effectively manage service requests from customers, the coming years will witness a rise in the number organizations adopting cloud computing in Latin America.
In terms of geographical regions, Brazil accounted for the maximum number of shares and dominated the cloud computing market in Latin America during 2015. The country has the most mature IT market in Latin America, which induces leading vendors including IBM, Oracle, and Microsoft to set up
Overview of the global cloud spending by SMBs market
Market research analysts at Technavio have predicted that the global cloud spending by SMBs (small and medium-sized business) market will grow steadily during the forecast period and post an impressive CAGR of more than 20% by 2020. This market research analysis identifies the shift towards service-oriented architecture (SOA) as one of the primary factors impacting the growth of this market. SOA provides enterprises with IT frameworks to manage their IT infrastructure with greater flexibility and also to implement cloud computing solutions in a much simpler way and lesser time. The increasing demand for innovative products and services will induce SMBs to prefer IT frameworks that enhance their marketing features. Also, with the provision of loosely coupled architecture and design applications and reusable computer codes, SOA models ensure that an application running in a cloud-based environment does not intersect with other multi-applications, which will lead to a rise in their adoption.
The adoption of OpenStack is one of the major trends that will gain traction in this market during the next four years. Online retailers such as e-bay and Walmart have already implemented OpenStack solutions to manage their online shopping platforms efficiently. The growing need to sustain market competition, reduce operational costs, and reduce complexities in the IT infrastructure will result in the increased adoption of OpenStack during the estimated period.
Competitive landscape and key vendors
The market is characterized by the presence of several cloud computing
Market outlook of the hybrid cloud services market
Technavio’s research analyst predicts the global hybrid cloud services market to grow at a CAGR of almost 20% by 2020. Hybrid cloud allows companies to build an environment on a demand basis and gives a complete control over the pricing and data because it is customized. Apart from benefits such as easy customization and enhanced security, a hybrid cloud also facilitates companies to integrate their hybrid cloud system with Big Data platforms that can quickly and reliably process large data sets. This helps to gain insights into the business on a real-time basis.
With the rise in mobile workforce, organizations are forced to place hosted service to facilitate mobile access to employees. The growth of the mobile workforce also poses a challenge for companies to manage and streamline the company workflow. Therefore mobile workforce solutions provider are offering hybrid cloud services that facilitates the mobile access while using the hosted data centers situated at provider's premises and the public cloud.
Segmentation by service of the hybrid cloud services market
- Cloud integration
- Cloud management
- Cloud security
Cloud integration accounted for a significant share of the global hybrid cloud services market. Increased data proliferation and complexity have made it difficult to deploy and maintain reliable data interfaces. To overcome this, enterprises are focusing on data integration with the cloud, which offers on-demand accessibility and real-time synthesis of data It enables enterprises to monitor, transform, and deliver data; understand the business process; and bridge the gap between business and IT. Data integration also helps enterprises
Market outlook of the cloud-based BPO market in APAC
Technavio’s research analyst predicts the cloud-based BPO market in APAC to grow at a CAGR of around 14% during the forecast period. An increased need for cost-effective business processes drives the market growth. SMEs, especially in emerging countries in APAC, have limited budgets and look for cost-effective solutions. They mostly outsource back-office operations that require extensive infrastructure, high capital investment, and human resources. This helps them cut costs, save time, and lean down their operations. Also, companies can focus more on their core activities and thereby improve their overall productivity and efficiency.
However, data security and privacy concerns remain a challenge for the market growth. Unauthorized access or loss of sensitive enterprise information can defame the service provider’s reputation. Outsourcing services are in great demand in growing economies in APAC such as India, China, and Southeast Asia with rapidly growing data. The cloud allows storing of large data in scalable and flexible infrastructure or hosted data centers. Cloud BPO service providers need to ensure the latest data security measures to gain customer’s confidence. Any glitches in the provider’s server could disrupt client’s data access and may lead to downtime. This would have a high impact on industries such as healthcare and BFSI.
Segmentation by services of cloud-based BPO market in APAC
- Customer support
- Finance and accounting
The HR segment accounted for a share of around 33% during 2015. An HR department has become vital for an organization as it focuses not only on reducing cost per employee but also on improving employee experience and increase productivity. Therefore, HRO has become an
Overview of the global cloud management for the OpenStack market
OpenStack is an open-source cloud-based computing technology that consists of a set of software tools that help to manage and build cloud-computing platforms in the cloud. The prospects for growth in this market will be driven by the need to effectively manage OpenStack-based multi-cloud deployments. The ability of OpenStack to enhance interoperability and integration by allowing the addition of new components as per the end users’ requirements will result in this market’s profound CAGR of over 30% during the forecast period.
Technavio’s market research analyst has estimated eminent factors, such as the increased need to reduce costs, to impel market growth during the predicted period. The deployment of OpenStack helps users to effectively manage private and public cloud computing platforms. It also enhances visibility and control over resources by optimizing networks, bandwidth, and disk I/O. The significant cost benefits associated with this technology is the primary reason for its adoption by enterprises.
Segmentation by end users and analysis of cloud management for the OpenStack market
- Academic research
In this segmentation analysis, analysts have estimated the IT segment to account for more than 67% of the total market share during the forecast period. The IT industry’s need for scalability, infrastructural cost reduction, speed-to-market, and maintenance will foster the demand for cloud-based data centers and virtualization solutions during the predicted period. Furthermore, the ability of open-source solutions to cost-effectively manage a business enterprise’s data analytics, transactions, and enterprise applications will result in its augmented adoption until the end of 2020.
Geographical segmentation of cloud management
Cloud computing has revolutionized the way an organization incurs costs with respect to its IT infrastructure. Cloud computing has allowed organizations to purchase what they need based on their requirements and allows companies to save space, as the bulk of the hardware infrastructure is at a remote location.
In order to keep informed about the latest developments in cloud computing, organizations can benefit from Technavio’s extensive coverage of this domain.