Board Portal Market Observing Growing Popularity and Emerging Trends 2029

Increased security concerns regarding confidential business information, integration of cloud-based technologies with board portal software, increased data sharing requirement, increased globalization and growing mobility, and high demand for fast and secure board communication are some of the key drivers for the growth of the board portal market.

However, strict presence of government regulations, challenging security issue, complex risk management capability may hinder the growth of the market. Moreover, rise in the adoption of bring your own device trend integrated with increased mobile network is expected to create numerous opportunities for the market. 

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From the past few years, the adoption of technologies is increasingly rapidly, thereby also leading to increased crime rate. However, board portal offers highest level of security. Everything on the portal is protected with the help of encryption, in addition to the other security tools.

Moreover, the email and messages are also secured in addition to the documents. Thus, the security measures provided by the board portal are one of the key driving factor for the growth of the market. 

With the evolving technology, internet penetration is also rising and thus the need for the remote workers to understand the business process at the ground level is also increasing.

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In addition to this, as the directors and board members are also comfortable with mobile devices will also find easy to adjust to the board portal. Thus, rise in the adoption of bring your own devices is expected to enhance the opportunities for the board portal market.  

Impact of COVID-19 on Board Portal Market:

  • The emergence of COVID-19 pandemic has severely affected almost all industries across the globe. Further, lockdown enforcements and restrictions on movements of non-essential goods as well as resources in various countries has disrupted supply chain of electronic components & networking equipment. This, has led to delay in supply of electronic components required in manufacturing of the network equipment.
  • Companies have continued to expand cloud services and application development service during the pandemic.  Before the pandemic took hold, various organizations were providing manual release of applications to customers.
  • New learnings among companies with respect to work-from-home (WFH) and data accessibility during the lockdown period has resulted in increasing enquiries for space and services at data centers and this trend is expected to create opportunities in for the market during the forecast period. 
  • There is an increase in use of automation and even after situation returns to ‘normal’, the work style will continue to be data center-driven, with demand growth for higher penetration of e-commerce, digital payments, and widespread deployment of Big Data, apart from policy level push for automation.

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