Virtually everything in today’s world can be purchased in minutes. This is especially true in the digital and business tools market. One of the most popular tools is Board Portal. Here is an overview of this market.
The fastest growing market
Experts estimate that in 2018, the Board Portal had an annual turnover of about USD 2.48 billion. By 2026, it will be worth at least USD 10.43 billion. In other words, the market will grow almost five-fold in less than ten years. Why is the Board Portal so popular with users?
The Board Portal is a market-leading, digitally developed system used by companies to facilitate collaboration. It is most commonly used by executives to organise, manage and secure partner meetings. It can also be used to present up-to-date content about a company’s activities, which is streamed to shareholders’ mobile devices or the company’s official website.
The IndustryARC report states that the Board Portal is gaining popularity in the market each year due to the following factors:
- uses advanced digital and intelligent technology for its products, which is a key element in its developments;
- perfectly integrates with popular cloud services used by various companies;
- operates on Soft as a Service (SaaS) model – the most optimal model of cooperation between companies and software providers;
- the top 10 companies at the core of the Board Portal include companies as popular in the North American region such as NASDAQ, Diligent, Azeus Convene and others.
The advantage of the Board Portal is that it tracks popular trends and patterns in the digital world faster than any other. For example, collaboration with SaaS customers has seen a 19% increase in the market since it was introduced. Experts predict this figure will continue to grow.
Features of the Board Portal market
What is the current state of the board portal market? If we look at the key development indicators, the following conclusions can be drawn:
- SaaS technology and direct hosting of software on the client’s servers is used as the delivery method;
- the end users of Board Portal services are a variety of companies that operate in both the public and private sectors (and there is no clear demarcation of the size of these companies);
- the North American region is in first place in terms of number of users, Europe is second and Asia Pacific is third.
Having analysed the above data, we can conclude that the Board Portal has been wisely exploiting key trends in the global digital market to its own advantage. It has a proven track record in North America and Europe, and they are planning on growing their presence in Asia.
What does the Board Portal have in store next? In addition to revenue growth, there will likely be an increase in the number of key players in this market and an entry into new areas of production. Education, healthcare, energy and financial services will continue to be key areas.