Board Portal Market Statistics:
A board portal is a tool that facilitates secure digital communication between members of a board of directors. Board portals also typically include messaging features, voting tools, meeting, meeting minutes, agenda features and other tools to help make communication as seamless as possible. By combining new mobile hardware with rapidly improving cloud technology, board management software replaces the old regime of paper, printing, and emails. Board management software simplifies every step of the board meeting life-cycle.
Impact of COVID-19 on Board Portal Market:
- The emergence of COVID-19 pandemic has severely affected almost all industries across the globe. Further, lockdown enforcements and restrictions on movements of non-essential goods as well as resources in various countries has disrupted supply chain of electronic components & networking equipment. This, has led to delay in supply of electronic components required in manufacturing of the network equipment.
- Companies have continued to expand cloud services and application development service during the pandemic. Before the pandemic took hold, various organizations were providing manual release of applications to customers.
- New learnings among companies with respect to work-from-home (WFH) and data accessibility during the lockdown period has resulted in increasing enquiries for space and services at data centers and this trend is expected to create opportunities in for the market during the forecast period.
- There is an increase in use of automation and even after situation returns to ‘normal’, the work style will continue to be data center-driven, with demand growth for higher penetration of e-commerce, digital payments, and widespread deployment of Big Data, apart from policy level push for automation.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increased security concerns regarding confidential business information, integration of cloud-based technologies with board portal software, increased data sharing requirement, increased globalization and growing mobility, and high demand for fast and secure board communication are some of the key drivers for the growth of the market. However, strict presence of government regulations, challenging security issue, complex risk management capability may hinder the growth of the market. Moreover, rise in the adoption of bring your own device trend integrated with increased mobile network is expected to create numerous opportunities for the market.
Enhanced security from cybercrime:
From the past few years, the adoption of technologies is increasingly rapidly, thereby also leading to increased crime rate. However, board portal offers highest level of security. Everything on the portal is protected with the help of encryption, in addition to the other security tools. Moreover, the email and messages are also secured in addition to the documents. Thus, the security measures provided by the board portal are one of the key driving factor for the growth of the market.
Cyber-threat acts as a major challenge:
The increased adoption of cloud and technologies have also increased the threat to cyber security. Majorly the business information is stored online which in turns prone to the cyber-attack. Since, the board portal majorly stores highly confidential data, and if this information is mishandled or compromised it can cause a huge substantial harm to the company. Furthermore, security investments may help to a considerable defense against such threats it can’t solve every underlying issue and hence it can be a major concern towards the growth of the market.
Increase in adoption of bring your own device:
With the evolving technology, internet penetration is also rising and thus the need for the remote workers to understand the business process at the ground level is also increasing. In addition to this, as the directors and board members are also comfortable with mobile devices will also find easy to adjust to the board portal. Thus, rise in the adoption of bring your own devices is expected to enhance the opportunities for the board portal market.
Key benefits of the report:
- This study presents the analytical depiction of the global board portal market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global board portal market share.
- The current market is quantitatively analyzed to highlight the global board portal market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed board portal market analysis based on competitive intensity and how the competition will take shape in coming years.
Board Portal Market Report Highlights
By Organizational Size
By Industry Vertical
Key Market Players
Computershare Ltd., Aprio Inc., Directors Desk Inc., Nasdaq Inc., Directorpoint LLC., Azeus Systems Holdings Ltd., Modevity LLC., Boardpaq LLC., Diligent Corp., BoardVantage Inc.