Hosted PBX is a cloud-based phone system that provides several benefits over traditional phone systems, including efficient call routing, personalized messages, call analytics, and reduced costs. According to market research, cloud PBX services are growing rapidly and will be worth $194.5 billion by 2024 as more businesses move to the cloud for their phone systems. Acefone offers hosted PBX and other cloud-based communication services to help businesses improve customer service and operations.