- Board management software helps board members, chief executives, and other professionals to access agendas, calendars, notes, documents, and contacts that can be used to strengthen and notify the corporate meeting process within the workspace. Additionally, board members or chief executives can upload files or important data through board management software, which can help to streamline meeting preparation with accurate, timely information and limitless repository, across all devices.
- The COVID-19 outbreak has been a major challenge for the post-pandemic business environment. Governments of different countries across the world have imposed lockdowns to curb the spread of the disease; hence, organizations are adopting board management software, so as to manage board meetings, build and share agendas, draft and finalize minutes, help groups schedule, vote digitally, hold virtual meetings, and securely store, share, and sign documents. This, in turn, is expected to boost the global board management software market. Moreover, board management software helps enterprises and different departments to manage tasks easily and effectively, which is projected to create significant opportunity for the global board management software market during the forecast period.
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Global Board Management Software Market: Market Dynamics
- Rise in demand for board management software with artificial intelligence that extracts and summarizes the minutes of meetings is expected to propel the board management software market
- Penetration of board management software for protecting confidential data with enterprise-grade security is a major factor that is estimated to drive the market during the forecast period.
- Rising growth of cloud-based board portals, which can access the data and information to the right people and restricts access to unauthorized people in an organization is expected to trigger the growth of the board management software market during the forecast period.
- However, improper selection and lack of skilled professionals handling board management software and rising threats to data security are major factors that are projected to restrain the board management software market.
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North America to Account for Major Share of the Global Board Management Software Market
- In terms of region, the global board management software market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa
- North America is expected to lead the global board management software market during the forecast period, due to the presence of well-established players that offer board management software in the U.S. and Canada. This is expected to boost the market in North America.
- The board management software market in Europe is anticipated to expand, due to growing need to streamline board management processes, governance excellence, and cost-effective solutions across large enterprises in the region.
- Asia Pacific is expected to hold a significant share of the global board management software market in the near future due to an increase in awareness about board management software among small & medium and large enterprises to manage the board member process, and stringent security policies to protect a company’s data, that includes board members information, credential records, files, and conversations. This, in turn, is projected to fuel the board management software market in Asia Pacific.
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Key Players Operating in the Global Board Management Software Market
Companies operating in the global board management software market are increasingly investing in research and development activities to develop new and innovative techniques to provide board management software. The global board management software market is highly fragmented, with the presence of numerous providers in developed and developing regions. Key players operating in the global board management software market include:
- Admincontrol AS
- Aprio, LLC
- Azeus Convene
- BOARDABLE BOARD MANAGEMENT SOFTWARE, INC.
- BoardBookit, Inc.
- BoardPAC
- BoardPaq LLC.
- Diligent Corporation
- Granicus, LLC.
- iCompass Technologies
- Nasdaq, Inc
- Passageways
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