Private Branch Exchange (PBX) phone systems, a private telephone setup, have come a long way since their inception. Internet connections and widely-accessible broadband have transformed PBX systems into a data-dependent, digital delivery system for voice and multimedia communications. This new system is called a Voice-over-Internet Protocol network, or VoIP system. With innovations and advances, VoIP is emerging as the leading communications technology and the inevitable "phone system of the future." By the end of thisyear, Gartner forecasts global IT spending will surpass $3.8 trillion, a 3% hike compared to 2013. Of this growth, researchers believe VoIP solutions represent at least 40%. If businesses sustain such spending habit, the VoIP marketing in particular could reach $80 billion over the next three years. Read our report on the future of phone systems and learn: The different types of VoIP phone system services. Common features today. Features to look for in the future. Examples of companies that are advancing these technologies.