Board Portal Market Opportunities and Share Analysis 2022 to 2028

According to Precision Business Insights (PBI) latest report, the board portal market is expected to be worth USD 2,753.8 million in 2021, growing at an 11.3% CAGR from 2022 to 2028. The worldwide board portal market has been growing at a quick pace over the last few years due to the rising adoption of cloud-based technologies integration with organizations' portal services, which enable companies to run their own apps on cloud platforms. The accessibility of information on a single platform and cloud-based board portals can save time and energy. Recently, in most organizations, there has been a widespread and growing need to tighten security policies for secret documents. The board portal grants authorized users access to information and data while restricting access to unauthorized users. In emerging cloud-based services, company information is held online. Thus, cloud-related cyber-attacks are on the rise, causing a surge in demand for safe and trustworthy software, such as board portal software, and stimulating market growth.

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Software as a Service (SaaS) Segment Dominates the Board Portal Market:
The Software as a Service (SaaS) segment is expected to account for a larger revenue share in the global board portal market with value share in the global market and is projected to grow at 32.9% CAGR over 2022 and 2028. The global board portal market for SaaS is expected to be the largest and fastest growing. The rise of SaaS models is lowering the cost of board portal software. IT or subscription-based software as a service provider deploys Board Portal software (SaaS). With the decreasing cost of on-demand computing power, increased internet accessibility, and the rise of smartphones and tablets, software companies can now offer board portal software to a broader range of organizations at a cheaper cost and in a more accessible manner, drives Software as a Service (SaaS) segment in the board portal market.

Europe Leads Board Portal Market:
Europe is expected to hold the 27.9% market share in the global board portal market in the forecast period, and it is projected to grow at a CAGR of 10.7% in the coming years. The European Commission's European Cloud Initiative and Cloud Strategy are trying to enhance cloud computing in Europe through Horizon 2020 and Digital Europe research and innovation actions, which will open up plenty of opportunities for the board portal industry in this region. In the European Union, roughly 36% of EU businesses will utilize cloud computing in 2020, largely for e-mail and file storage. Furthermore, rising data privacy requirements in the region, such as the European Union's planned and implemented General Data Protection Regulation (GDPR), are increasing the region's reliance on GDPR-compliant software, such as BoardFolio by Praxonomy, Azeus Convene Board Management software, and others.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Global board portal market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region. For instance, In March 2021, Nasdaq, Inc. announced an agreement with PureStream Trading. Nasdaq will completely host the PureStream ATS on its Nasdaq Execution Platform, including managing system operations, as well as portions of risk controls, venue surveillance, trade reporting, and clearing facilitation. The technology allows exceptional flexibility and allows PureStream to integrate new applications and functionalities as the company evolves and expands its platform.

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The board portal market is segmented based on delivery mode, generation, end-use industry, and geography.
Based on the delivery mode, the market is segmented into the following:
• Enterprise Model
• Hosted
• Software as a Service (SaaS)
• Others

Based on the generation, the market is segmented into the following:
• Generation 1.0
• Generation 2.0
• Generation 3.0
• Generation 4.0

Based on the end-use industry, the market is segmented into the following:
• BFSI
• Healthcare
• Oil & Gas
• Education
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Key player's profiles in the board portal market report are Diligent Corp., Nasdaq Inc., Computershare Ltd., Directorpoint LLC., Azeus Systems Holdings Ltd., Modevity LLC., Aprio Inc., Boardpaq LLC., BoardVantage Inc., and Directors Desk Inc.

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