Board Portal Market Opportunities, Challenges, Drivers and Restraint Research Report by 2027

Research Nester published a report titled Board Portal Market: Global Demand Analysis & Opportunity Outlook 2029″ which delivers detailed overview of the global board portal market in terms of market segmentation by delivery model, generation, and end-use industry.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

With the growth in software technology, remote working, and the demand for file backup and retrieval, digital document management has grown impressively over the years. File-sharing, remote editing, and device interoperability are essential requirements for any team, executive, or board. The ability to work, approve, share, and manage essential tasks of an organization remotely has assisted the rise in use of digital document management. Board portals equipped with digital document management ensure data transmission and operability through various devices and e-approval (through e-signatures) from any physical location globally, thereby creating notable growth opportunities related to the growth of global board portal systems market. The global market accounted for USD 2,785.14 Million in 2020 and is estimated to grow at a CAGR of 17.10% during the forecast period, i.e., 2021-2029.

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The global board portal market is segmented by generation into generation 1.0, generation 2.0, generation 3.0, and generation 4.0. Among these segments, the generation 4.0 segment in the global board portal market is estimated to grow with the highest CAGR of around 20.94% while generation 3.0 segment is estimated to be the leading revenue generating segment during the forecast period. Geographically, the global board portal market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, out of which, the market in North America held the leading market value of around USD 956.48 Million in 2020 and is further estimated to hold this position throughout the forecast period. The growth in this region can be attributed to the increasing preference for virtual meetings and use of cloud-based services. The presence of significant board portal software providers, such as Nasdaq Inc., Diligent Corporation, and, Passageways, in the region would further drive the market’s growth over the forecast period.

Greater Cost Benefits and Savings in Using Board Portals

Ademero estimated that there is an average savings of USD 120 due to the finding and replacing of a lost paper document. Printers, cartridges, paper, writing tools, shredders, photocopiers, paperclips, folders, and cabinets add up to around USD 400,000 a year in costs for an average company.

The cost benefits and savings made over the time of usage of board portals have also been a major factor of their deployment. Record Storage Systems, 2020, said that almost 7.5% of paper documents are lost while at the same time, document challenges such as retrieval and organizations account for 21.3% productivity loss. Remote access feature for documents is important in the current situation of a global pandemic that has led to individuals working from remote locations. Board portals usually have integrated document management tools that ensure the aforementioned advantages while safeguarding data that is estimated to contribute to the growth of the market.

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However, the nascent nature of the technology and operating costs are some of the factors which are anticipated to operate as key restraint to the growth of global board portal market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global board portal market which includes company profiling of Nasdaq, Inc. (NASDAQ: NDAQ), Computershare (ASX: CPU), BoardPaq LLC, Diligent Corporation, Admincontrol AS, Passageways, BoardEffect LLC, Dilitrust SAS, eShare, and Aprio. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global board portal market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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