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Growing Concerns Related to Security to Boost Growth of Board Portal Market Globally; Market to Grow by CAGR of 17.10% over 2021 – 2029

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Research Nester published a report titled Global Board Portal Market: Global Demand Analysis & Opportunity Outlook 2029which delivers detailed overview of the global board portal market in terms of market segmentation by delivery model, generation, and by end-use industry.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

There has been a rapid increase in cases of data and security breaches over the past decade. The increase in security breaches in organizations has been attributed to the data stored on servers and the cloud. A ransomware attack on IT giant Cognizant in 2020 had the estimated impact of USD 50-70 million. Cybersecurity Ventures forecasts state that cybercrime will cost the world USD 6 trillion by 2021, which in turn, would contribute to the rise in adoption of board portals by the organizations on a global scale. In 2020, the global board portal market garnered USD 2,785.14 Million and by 2029, the market is estimated to touch USD 11,685.15 Million by growing at a CAGR of 17.10% over the forecast period, i.e., 2021-2029. On the basis of delivery model, the global market is divided into enterprise model, hosted, software as a service (SaaS), and others, out of which, the software as a service (SaaS) segment is estimated to grow with the highest CAGR throughout the forecast period.

Regionally, the global board portal market is segmented into five major regions comprising North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market accounted for highest market value (USD 956.48 Million) in 2020 and is further projected to grow significantly during the forecast period on the back of increasing virtual meetings and use of cloud–based services, which is projected to increase the demand of board portals in this region.

Rise in Frequency of Cyber Attacks to Boost Market Growth

IBM’s X-Force Threat Intelligence Index found through an analysis that banking, financial services, and insurance sector are the most breached industries in terms of cyber-attacks. The 2020 report for the past year found 8.5 million records were “compromised,” a 200% rise from the last year, with misconfigured servers, which accounted for 86% of the compromised records. The report also mentioned a significant increase in malware, especially ransomware attacks, with the US being the primary regional target, thereby driving the board portal market.

However, the limited technological expertise is estimated to negatively affect the growth of the market in upcoming years.

This report also provides the existing competitive scenario of some of the key players of the global board portal market which includes company profiling of Nasdaq, Inc. (NASDAQ: NDAQ), Computershare (ASX: CPU), BoardPaq LLC, Diligent Corporation, Admincontrol AS, Passageways, BoardEffect LLC, Dilitrust SAS, eShare, and Aprio. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global board portal market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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