Board Portal Market - Forecast(2021 - 2026)

 

Board Portal Market Overview

Board Portal market size is expected to reach $2849.7 million by 2026 at a CAGR of 17.0% during the forecast period 2021-2026. A board portal is a system that secures and completes works based on internet technology that will be used to facilitate management meetings, communication and collaboration between directors and the board of directors. In addition it is used for providing content to the directors either on mobile devices or on different websites. As cybercrime is increasing rapidly, the demand for a secure meeting platform for boards has been increasing widely. 

Moreover board portal software offers the highest level of security as it uses highest grade of encryption and security applications for limited access to documents, chats and confidential mails. Further, companies are increasingly showing interest in meeting management software as it has taken everything from paper-based formats to all digital board materials planning, delivery and retrieval. Hence these factors enhances the adoption of Board Portal Software market in the forecast period 2021-2026.


Report Coverage

The report: “Board Portal Industry Outlook – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Board Portal market
By Type: Enterprise Model/Onsite, Hosted/Client Hosted, Vendor Hosted/SaaS, Others (Third Party Hosted)
By Deployment: Cloud, On Premise
By End Use Industry: Oil and Energy, Education, BFSI, Healthcare, Government and Public Service, Law Firms, Media and Entertainment, ISP/Telecom, Others
By Organization Size: SME, Large Enterprises
By Geography: North America (U.S, Canada, Mexico), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), South America(Brazil, Argentina and others), and RoW (Middle East and Africa)

Key Takeaways

  • Board Portal software in North America is growing at significant rate owing to early adoption of advanced technologies and rising adoption of smart technologies has been driving the board portal in this region.
  • The global demand for board software has been rising rapidly over the last few years due to the high adoption of cloud-based technology integration with the portal software of the enterprise, which enables companies to operate their own applications on cloud platforms.
  • Vendor Hosted/Software as a Service (SaaS) is growing at a highest CAGR of 19.4% in the forecast period. This SaaS Model has gained popularity among various end-user segments and is expected to maintain substantial market share in the forecast period.
  • Board Portal top 10 companies include NASDAQ, Computershare, Diligent, Azeus Convene, Visma/AdminControl., Aprio Inc., Passageways, BoardPaq LLC., Directorpoint LLC, and Modevity LLC among others.

Board Portal Software Market, 2020-2026

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Board Portal Market Segment Analysis - By Type

Vendor Hosted/SaaS is growing at a highest CAGR of 19.4% in the forecast period. This SaaS Model has gained popularity among various end-user segments and is expected to maintain substantial market share in the forecast period as a result of higher model security measures and lower initial and continuing costs incurred by customers. In addition, SaaS solutions also allow companies to generate industry-specific customer data and intelligence. The growth of SaaS models contributes to making board portal software more accessible. Meeting Management Software is implemented either by IT or subscription-based software as a service (SaaS). 

With the cost reduction of on-demand computing power, a substantial increase in Internet accessibility and the rise of smartphone and tablet device vendors, several businesses will offer portal services at lower cost and in a more open manner. Moreover this model has gained traction between different end-user segments and is expected to hold considerable market share in the forecast period as a result of higher platform security measures and lower initial and continuing costs for customers. SaaS solutions also help businesses to generate customer data and information that is specific to each industry. Board Portal Software is easy to use, easily scalable and less prone to data loss favours an agile development life cycle and these are forcing the demand for SaaS model in the forecast period 2020-2025.

Board Portal Market Segment Analysis - By End User

Healthcare sector for this board meeting management software market is growing at a CAGR of 22.6% in the forecast period. Rising adoption of board portals in hospitals is an intuitive step and with the ability to have tremendous paper and printing savings, productivity increases for administrative staff who streamline distribution of materials, savings in binding and delivery of printed materials, information security, convenient board access anywhere with an internet connection and streamlined distribution of changed and added materials hospitals are preferring board portal. 

Many of the issues facing hospital boards today include high board numbers, demands for financial management, the need for well-informed board members and continuing education. In these rapidly changing times, the hospital board of directors needs board portal software to dramatically streamline governance, share information and interact effectively. The 2018 Health Leaders Media Industry Survey found that while 69 per cent of hospital executives said their boards were strong or very strong, 11 per cent said their boards were weak or bad. This is also attributed to the large number of members of the hospital board of directors. 

The answer to this perplexing compromise is the incorporation of portal tools from the hospital board. The board portal software is designed for the collaboration of hospital boards with a single shared interface for all board documents and activities and is therefore expected to fuel the market growth of Board Portal. Further using board portals for healthcare organizations, such as BoardBookit, can allow those brave, creative, flexible leaders to thrive in a changing environment. Moreover the decision to integrate board portals for pharmaceutical companies that will adapt and change as quickly as the pharmaceutical market is necessary, critical, and fundamental to modern board procedures.

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Location: United States

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