Board Portal Market Size & Share, by Delivery Model (Enterprise Model, Hosted, Software as a Service (SaaS)); Generation (Generation 1.0, Generation 2.0, Generation 3.0, Generation 4.0); End-User (BFSI, Healthcare, Oil & Gas, Education) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3141
  • Published Date: Nov 03, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Board Portal Market size is expected to cross USD 34 Billion by the end of 2036, growing at a CAGR of 17.5% during the forecast period, i.e., 2024- 2036. In the year 2023, the industry size of board portal was over USD 5 Billion. The primary factor fueling the market's expansion is organizations’ growing concerns about security. Over the past ten years, there has been an increase in the demand for data and security breach cases. The data that is kept on servers and in the cloud has led to an increase in security breaches in businesses. The anticipated damage of a ransomware assault on IT behemoth Cognizant in 2020 is between USD 50 and USD 70 million. According to cybersecurity ventures, by 2021, cybercrime will cost the world USD 6 trillion USD.

In addition to these, the rising demand for digital document management is also a major factor in boosting the board portal market growth. With development in software technology, remote working, and the demand for file backup and retrieval, digital document management has grown drastically over the years. File-sharing, remote editing, and device interoperability are standard requirements for any team, executive, or board. The development of digital document management has been facilitated by the capacity to collaborate, approve, share, and oversee critical organizational functions from a distance. Board portals featuring digital document management provide data transfer, device operability, and e-approval (by e-signatures) from any point in the globe. According to Record Storage Systems, 2020, document issues like retrieval and organizations represent 21.3% of productivity loss, while nearly 7.5% of paper documents are lost.


Board Portal Market
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Board Portal Market: Growth Drivers and Challenges

Growth Drivers

  • High Uptake of Public Cloud Technology Integrated with Portal Services Provided by the Organisation- The need for board portal software has increased significantly on a global scale in recent years as a result of the widespread adoption of cloud-based technology integration with enterprise portal services, which allows businesses to run their own apps on cloud platforms. In addition, because all information is available on one platform, cloud-based board portals offer a more efficient use of time and resources. The majority of organizations' growing requirement to tighten security requirements for sensitive documents is also fuelling the board portal market expansion. Additional board meeting management software restricts access to unauthorized individuals while providing the appropriate people with access to information and data. The cloud houses 60% of all corporate data worldwide. Global energy consumption is accounted for by cloud data centres at 3%. The annual revenue from cloud infrastructure services is USD 178 billion. Ninety percent of major businesses have implemented a multi-cloud infrastructure.
  • Software Adoption for Board Portals in the Healthcare Sector- Hospital boards are currently confronted with a number of challenges, such as large board sizes, financial management expectations, the requirement for knowledgeable board members, and ongoing education. The hospital board of directors requires board portal software in these quickly evolving times in order to drastically simplify governance, exchange information, and collaborate efficiently. This is also explained by the big number of hospital board of directors’ members. The introduction of hospital board portal tools is the solution to this confusing compromise. The programme increases touch between the boards and their members in the middle.
  • Increasing Internet Penetration- BYOD programmes become essential in the technological landscape as a result of the growing demand for remote workers to comprehend business processes at the ground level and the global expansion of internet usage. As a result, BYOD is starting to show promise as a catalyst for helping the company value an employee's productivity without sacrificing security. India's internet penetration rate increased from approximately four percent in 2007 to nearly 48.7 percent in 2022.

Challenges

  • High Cost Associated with the installation- Board portal installation is somewhat more expensive. As a result, a lot of companies still prepare their board documents in large paper packages and mail them out before meetings. The board portal market expansion of board portals in their respective end-user industries may be fuelled in the future by increased awareness of the software and its possible applications. Numerous industries, such as financial services, education, healthcare, oil and energy, and others, employ board portals.
  • The market's adoption of board portals is hampered by end users' lack of knowledge about the security and dependability of these services in the oil and gas industry and elsewhere.
  • These services are also being hampered by worries about data security and privacy related to using meeting management software.

Board Portal Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 17.5%

Base Year Market Size (2023)

 ~ USD 5 Billion

Forecast Year Market Size (2036)

 ~ USD 34 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Board Portal Segmentation

Delivery Model (Enterprise Model, Hosted, Software as a Service (SaaS))

Board portal market from the SaaS segment is expected to hold 49% of the revenue share by 2036. Board portal software is becoming more reasonably priced due to the emergence of SaaS models. IT or a subscription-based software as a service provider deploys the Board Portal software (SaaS). Owing to the decreasing cost of on-demand computer power, increased internet accessibility, and the popularity of smartphones and tablets, software manufacturers are now able to provide board portal software to a greater number of organizations at a more affordable and easily accessible price. At present, tablets are used by around 1.28 billion people. When it comes to computer devices, 91% of internet users still think that smartphones are their preferred method of accessing the internet. In 2021, smart devices brought in about USD 60 billion in sales globally.

Generation (Generation 1.0, Generation 2.0, Generation 3.0, Generation 4.0)

The generation 3.0 is expected to account for 42% of the global board portal market by the end of 2036. This is because notes and annotations in third-generation board portals are automatically synchronised across devices and enable the mapping of the entire meeting agenda. This makes it possible to display the entire agenda, including the time allotted. Moreover, fingerprint sensors on iOS devices and the filing of papers in distinct folders arranged according to meetings offer extra security. These elements are all in charge of driving this segment's market expansion.

Our in-depth analysis of the global board portal market includes the following segments:

          Delivery Model

  • Enterprise Model
  • Hosted
  • Software as a Service (SaaS)

          Generation

  • Generation 1.0
  • Generation 2.0
  • Generation 3.0
  • Generation 4.0

          End-User

  • BFSI
  • Healthcare
  • Oil & Gas
  • Education

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Board Portal Industry - Regional Synopsis

North American Market Forecast

The board portal market in the North America region is expected to hold the largest share of about 34% by the end of 2036. The board portal in this region has been driven by the early deployment of advanced technologies and the growing adoption of smart technologies in this country. Additionally, a number of advantages provided by board portals assist organizations in various ways, including facilitating the easy preparation and distribution of files, annotating documents prior to meetings, enabling access to documents from any location, facilitating seamless real-time communication, and enhancing corporate social responsibility. Additionally, features like an attendance tracker, e-signature, two-way authentication, industry-leading security, and ease of use are all included in board meeting management software. The rise of startups and organizations in the area is the main factor contributing to the board portal's growth. The survey indicates that between 2023 and 2027, almost 75% of businesses are likely or very likely to use big data analytics, cloud computing, e-commerce and digital trade, and AI technologies. Additionally, over 86% of businesses intend to implement digital platforms and apps.

Europe Market Statistics

Board portal market in Europe region is predicted to hold second largest share of about 25% during the forecast period. The growth of the board portal market is due to the region's high acceptance rate of cloud-based technologies and their integration with portal services, which allow businesses to operate their apps on cloud platforms.

Research Nester
Board Portal Market Size
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Companies Dominating the Board Portal Market

top-features-companies
    • Diligent Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Nasdaq, Inc.
    • Computershare, Inc.
    • Directorpoint LLC
    • SHERPANY
    • Aprio Board Portal
    • Boardmaps
    • Boardpaq LLC
    • Modevity, LLC
    • StreamLink Software Inc.
    • Azeus Systems Holdings Ltd.

In-the-news

In The News

  • Diligent Corporation entered into a partnership with Heidrick & Struggles and Egon Zehnder, a joining founding partner of Spencer Stuart. These partnerships aimed to posting open board opportunities specifically for diverse candidates within the Diligent Director Network to enhance their Modern Leadership initiative.
  • Nasdaq, Inc. Announced an agreement with PureStream Trading. Nasdaq will completely host the PureStream ATS on its Nasdaq Execution Platform, including managing systems operations, as well as portions of risk controls, venue surveillance, trade reporting, and clearing facilitation. The technology allows exceptional flexibility and provides PureStream the ability to integrate new applications and functionalities as the company evolves and expands its platform.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 3141
  • Published Date: Nov 03, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing adoption of cloud-based technology, data breaches and digital documentation are the major factors driving the growth of the board portal market.

The market size of board portal is anticipated to attain a CAGR of 17.5% over the forecast period, i.e., 2024-2036.

The major players in the market are Azeus Systems Holdings Ltd., Computershare Limited, Directorpoint LLC, Boardmaps, Boardpaq LLC, Modevity, LLC, DiliTrust SAS, StreamLink Software Inc., and others.

The SaaS segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Board Portal Market Market Report Scope
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