Press release
board management software Market is expected to reach US$ 8.5 billion by 2031
The global board management software market was valued at US$ 3.1 billion in 2021 and it is anticipated to grow up to US$ 8.5 billion by 2031, at a CAGR of 10.6% during the forecast period.Global board management software report from Global Insight Services is the single authoritative source of intelligence on board management software market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Board management software is a technologically advanced solution that addresses the redundancies, deficiencies, and flaws of holding paper-based board meetings. The software effectively manages a board director's workflow and processes. A board management software's benefits include actual-time information dissemination, digitized documentation, automated meeting preparation, and clearer communication channels. Most firms opt for a vendor-provided board management solution that can be easily implemented within a company's existing information technology (IT) systems and already have the required security standards.
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Major Players in the Global Board Management Software Market
The key players studied in the global board management software market are Aprio Inc. (Canada), Azeus (Hong Kong), Boardable (US), Board Matters, LLC (US), BoardPAC Inc. (US), BoardPaq LLC (US), Diligent Corporation (US), Govenda (US), Nasdaq, Inc. (US), and Passageways, Inc (OnBoard) [US].
Global Board Management Software Market Segmental Overview
The report analyses the global board management software market based on deployment type, end user, and region.
Global Board Management Software Market by Deployment Type
Based on deployment type, it is bifurcated into on-premise and cloud-based. The cloud-based segment is expected to have the largest board management software market share in 2021. Over the years, the demand for cloud-based systems is expected to grow substantially due to the cloud-based board management software offering enhanced flexibility, scalability, and security to its users. Further, it allows the end users to receive automatic software updates without additional capital expenditures, improving technology competitiveness. Due to these factors mentioned above, the cloud-based board management software is expected to receive the main market attraction resulting in market growth.
Global Board Management Software Market by End User
Based on end user, it is segmented into BFSI, education, healthcare, government, and others. The BFSI segment is expected to be the largest segment in the board management software market in 2021. In the BFSI sector, adopting a board meeting management software to implement end-to-end board meeting activities can signify a board's commitment to innovation, security, and efficiency. Thus, the BFSI segment will likely hold a major market share in 2021.
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