Global Board Portal Market
Global Board Portal Market By Delivery Models, By End User, By Geographic Scope And Forecast
According to Verified Market Research, The Global Board Portal Market was valued at USD 2.48 Billion in 2018 and is projected to reach USD 10.43 Billion by 2026, growing at a CAGR of 20.15% from 2019 to 2026.
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.
The global 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. Cloud-based board portals include consuming time and energy more efficiently due to information accessibility on a common platform. There is a prevalent and increasing requirement to improve security practices for confidential documents in the most organizations today. Board portal enable the access to information and data to the right people and restricts the access to unauthorized people. In emerging cloud-based services, business information is stored online, thus, cloud-related cyber-attack is rapidly increasing, which in turn, proliferating the demand for secured and reliable software, such as board portal software: thereby stimulating the market growth.
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