This study focuses on hosted IP telephony services including IP Centrex and hosted IP PBX, as well as more comprehensive service bundles, typically referred to as Unified Communications (UC) services, that also include hosted voice and unified messaging, chat/instant messaging and presence, conferencing and collaboration. The findings of this study can help end users better assess the advantages and disadvantages of hosted communications and compare offerings across multiple service providers. Providers can use the study to evaluate their competitive positioning and growth potential in view of key market trends.