Board Portal Market Size, Industry Analysis Report Delivery Mode (Hosted and SaaS), By End-User (Public Companies, Private Companies, Public Sector Enterprise) & Region – Forecast
- PUBLISHED ON
- 06/12/2022
- NO OF PAGES
- 288
- CATEGORY
- Retails & Consumer
The rising security concern in organizations is the primary driver of the Board Portal market.
The global board portal market was valued at USD 2.78 Billion in 2022 and is anticipated to reach USD 10.98 Billion by 2030, growing at a CAGR of 21.19%. A board portal is a mechanism that allows members of a board of directors to communicate securely online (BoD). To ensure excellent governance, board portals are precisely built for the board of directors. Messaging features, voting tools, meetings, meeting minutes, program features, and other digital tools are all included in board portals to help in making communication as unified as feasible. A paperless board portal can also help with security and save money on paper printing and shipping. From document & email sharing apps to online video conferencing as well as policy and project management systems, the board portal software includes solutions that are built for effective communication. Each committee will have its own designated workspace within the board portal system if users can simply establish different folders and restrict access to specific folders by groups or people.
The Board Portal Market - Growth Factors
Over time, board portal adoption and utilization have expanded dramatically. Over the estimated period, the worldwide portal market is expected to increase at a significant rate. Increasing security concerns in organizations, increased cooperation between directors, cheaper cost of board portal solutions, the new trend of paperless board meetings, increasing competition for board portals in educational institutions, and other reasons are driving the worldwide board portal market. However, this market has significant obstacles, also including balancing security concerns, regulatory compliance, and a lack of trained labor, to name a few.
COVID-19 Analysis:
The use of board portals is expected to increase as a result of COVID-19 pandemic. The demand for secure board portal software with end-to-end encryption has increased as the number of cyber-attacks has increased during the pandemic.
Market Trends of the Global Portal Market:
• Virtual Reality and Augmented Reality
• Smart Bots
• Cons of Not Installing Board Portal
• Board Portal for Mobile Phones
• Technology Upgradation
• Need of Efficient Corporate Governance
• Application of AI in Board Meetings
• Rising Use of SaaS Model
Restraining Factors of the Global Portal Market:
• Regulatory Compliances
• Balancing Security Issue
• Unskilled Workforce
The Board Portal Market – Segmentation
The Global Board Portal Market is fragmented on the basis of End-User, Delivery Mode, and Geography. In terms of the Delivery Mode, the Board Portal market is bifurcated into Hosted and SaaS. Over the forecast period, the global board portal market for SaaS is expected to be the largest and fastest growing segment. The growth of SaaS models is lowering the cost of board portal software. IT or a subscription-based software-as-a-service provider deploys Board Portal software. With the decreasing cost of on-demand computing power, increased internet accessibility, and the proliferation of smartphones and tablets, software companies can now providing board portal software to many more businesses at a economical rate and in a more improved way. In terms of End-User, the market is categorized into Public Companies, Private Companies, and Public Sector Enterprise.
The Board Portal Market –Regional Analysis
The largest market for board portals was Europe, followed by North America. The market dominance can be due to financial services companies are incorporating board portal services. Although the Asia-Pacific board portal market is considered to be stagnant in its early stages, it is anticipated to grow at the fastest rate during the estimated period, owing to the rising industrialization, a growing healthcare industry, and increased FDI in the financial sector in developing countries like China and India. North America's largest markets are considered to be the United States and Canada. The European board portal market is dominated by Germany, the United Kingdom, France, Spain, and Italy. In Asia-Pacific, China, South Korea, India, and Japan, are the most significant board portal markets.
The Board Portal Market: Market Players
The major market players in the market are: Diligent Corporation, BoardMaps, Nasdaq, Inc., Azeus Systems Holdings Ltd. (Azeus Convene), Computershare Limited, Directorpoint LLC, Boardpaq LLC, Modevity, LLC, and DiliTrust.
Report scope
Global Board Portal Market: Historical Years- 2018-2021
Global Board Portal Market : Forecast Years- 2022-2030
Global Board Portal Market 2022- USD 2.78 Billion
Global Board Portal Market CAGR- 21.19%
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