The global IP PBX market is growing at a rapid pace owing to the introduction of new applications that are suitable for various large businesses such as the hospitality, education, and healthcare sector.

According to a report released by Analytics Market Research, the global IP PBX market size, which was estimated at USD 20.19 billion in 2022, is expected to reach USD 85.14 billion by 2031, a compounded annual growth rate (CAGR) of 17.3 percent during the nine years. The growth is attributed to increasing demand for IP PBX systems.

The global IP PBX market is segmented based on region type, industry type (end users), businesses size, and services type.