US Board Portal Market Size By Delivery Mode(Saas, Hosted), By End User(Oil And Energy,  Bfsi,  Healthcare Government And Public Service, Media And Entertainment) And Forecast

U.S. Board Portal Market Size And Forecast

U.S. Board Portal Market size was valued at USD 1,099.01 Million in 2021 and is projected to reach USD 4,247.91 Million by 2030, growing at a CAGR of 17.29% from 2023 to 2030.

The US board portal market is growing at rapid pace from the last few years due to high adoption of cloud-based technologies integration with the organization’s portal services, which enable organizations to run their own application on cloud platform. The U.S. report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that play a substantial role in the market.

What is Board Portal?

A board portal refers to a tool that enables secured digital communication among the members of a board of directors (BoD). Board portals are specifically designed for board of directors to ensure good governance. Board portals also mainly comprises of messaging features, meeting, voting tools, agenda features, meeting minutes, and other digital tools to assist in making communication as unified as possible. A paperless board portal is also beneficial in bringing security and eliminating paper printing and shipping cost.

The board portal software uses tools that is designed for effective communication, from document and email sharing apps to online video conferencing and policy & project management systems. An effective board portal will enable users to easily create multiple folders and restrict access to particular folders by groups or users, ensuring that each committee have its own reserved workspace within the board portal system. Board portal software is used over android, windows or i-pad web-based tools. Manufactures of board portal software provide their products in the US board portal market through one of these means.

U.S. Board Portal Market Overview

The US board portal market is growing at a rapid pace in the last few years due to the high adoption of cloud-based technologies integration with the organization’s portal services, which enable organizations to run their own application on cloud platforms. The benefits of cloud-based services such as software as a service (SaaS) are attracting many organizations to integrate cloud-based technologies with the organization’s portal. Some of benefits of adopting cloud-based technologies include enhancing IT efficiency, accelerating application delivery, and expanding markets.

The major advantage of using cloud-based technologies is cost reduction and increased efficiency as the enterprise can easily streamline its structure. Also, increasing security concerns for confidential business information are also boosting demand for board portals in the country. Sending board documents through e-mail or via other sources is creating the possibility of cyberattacks by hacking email passwords. Henceforth, most organizations are focusing on secure means of data transferring methods, such as a board portal that can be accessed by members of the board of directors of the organization.

Board portal enable the access to information and data to the right people and restricts the access to unauthorized people. But, strict government regulations are restraining market growth. European Union and the government of the U.S. are actively engaged in the implementation of policies for data protection. In March 2018, the U.S. government passed the Clarifying Lawful Overseas Use of Data Act, which is also known as the CLOUD Act. The main aim of the cloud act is to assist U.S. law enforcement organizations to get access to the data stored online.

European Union also enacted the General Data Protection Regulation (GDPR) in 2016 which replaced the Data Protection Directive 95/46/EC in 2018. Under this law, organizations, which are already in compliance with the primary law, must ensure that they are also in compliance with GDPR’s new requirements. This act imposes stringent data protection procedures on non-European (EU) companies that process EU citizens’ data. The U.S. CLOUD Act enforces a compliance risk on European companies that are subject to the GDPR.

 U.S. Board Portal MarketSegmentation Analysis

The U.S. Board Portal Market is segmented based on Delivery Mode, and By End User.

U.S. Board Portal Market, By Delivery Mode

• Saas
• Hosted

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SaaS accounted for the largest market share of 65.03% in 2021, with a market value of USD 714.72 Million and is projected to grow at the highest CAGR of 19.62% during the forecast period. Hosted was the second-largest market in 2021, valued at USD 384.29 Million in 2021; it is projected to grow at a CAGR of 11.30%.

U.S. Board Portal Market, By End User

• Oil And Energy
• BFSI
• Healthcare
• Government And Public Service
• Media And Entertainment
• Others

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Healthcare accounted for the largest market share of 28.67% in 2021, with a market value of USD 315.12 Million, and is projected to grow at the highest CAGR of 18.71% during the forecast period. BFSI was the second-largest market in 2021, valued at USD 277.31 Million in 2021; it is projected to grow at a CAGR of 17.82%.

Key Players

The “U.S. Board Portal Market” study report will deliver valuable insight with an emphasis on the U.S. market. The major players in the market are Azeus Convene Modevity LLC, Diligent Corporation, Nasdaq Incorporation, Passageways, ComputerShare, Leading Boards, Admincontrol AS, Directorpoint, BoardPaq, Aprio Board Portal, DiliTrust, M29 Technology and Design, and BoardEffect Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

● Diligent Corporation announced a partnership with Singapore Exchange (SGX). The partnership allowed Diligent offers its board portal services to the SGX listed entities.

● OnBoard, the award-winning board management tool that streamlines board communication and collaboration, was developed by Passageways, Inc. The company officially unveiled a strategic upgrade to the OnBoard Intelligence platform, which includes a new logo, corporate identity, website, and user experience.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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