Increasing digitalization of work processes and information overload leading to higher penetration of board portal across industries

Date: 1 February 2020

According to a research report published by Azoth Analytics in January 2020, the Global Board Portal Market was valued at USD 1.28 Billion in the year 2019. Increasing digitalization of work processes and information overload is expected to drive the demand of board portal with directors and other board members expected to utilize more of this technology in future for simpler and safe access of any information without any constraint of time and place. Additionally, the technological advances in IT sector have spurred demand for adoption of portal services worldwide. 

The growth in global market value of Board Portals is majorly because the product is anticipated to be in its growth period of marketing lifecycle during the observed period. Moreover, adoption of Board portals will allow its users to access vital information or address key issues in a secure way from any location. Ensuring transparency in the system promotes strong and balanced economic development. This also ensures that the interests and rights of all shareholders are safeguarded. Also, strict corporate governance and clear transparency maintains investor’s confidence as a result of which it will help out in raising capital effectively and efficiently.

The rapidly growing market rate is because of the rise in ethical boardroom governance structure accompanied with the global expansion of the firms operating in various sectors accompanied by large board size of big publicly traded companies. Asian businesses are trying to maintain cost and functionality for their continuously changing business requirements. The need for innovation, agility, flexibility and speed in the business process increases the demand for software-based solutions.

The technological advances in IT sector have spurred demand for adoption of portal services worldwide. As government regulations increase and board duties grow, small and medium enterprises are encouraged to adopt board portal technology. The demand for robust and engaging digital environments to meet and collaborate on increasingly complex business objectives will continue to surge over time. IT departments around the globe increasingly accept the flexibility derived from cloud communications and collaboration deployment models, thus impelling the market growth.

The Azoth Analytics research report titled GlobalBoard Portal Market Report (2020 Edition) – Market Insight, Competition andForecast (2021-2025) has analysed and segmented the Board Portal Market By Value (USD Million) and by Penetration rate (%). The report has also analysed the Board Portal Market by Delivery Model (SaaS Model, Hosted Model, In- House Mode), and by Application (Health Care, Financial Institution, Oil & Gas, Non-Profit Organization, Education). The Global Board Portal Material Market has been analysed By Region (North America, Europe, Asia Pacific, LAMEA) and By Country (United States, Canada, Germany, France, Italy United Kingdom, China, Japan, India & Australia) for the historical period of 2015-2019 and the forecast period of 2020-2025.