At 7.6% CAGR, Europe Board Management Software Market is Projected to be Worth US$ 1,764.97 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Europe board management software market was valued at US$ 979.59 million in 2023 and is expected to reach US$ 1,764.97 million by 2031, registering a CAGR of 7.6% from 2023 to 2031. Continuous product innovation by market players and growing adoption of cloud-based solutions are among the critical factors attributed to drive the Europe board management software market growth.

As board management software helps an organization's board of directors manage their responsibilities regarding strategic planning and performance reviews, its demand is increasing globally. Market players are continuously working on producing more advanced and innovative board management software to cater to the growing demand. A few of the product developments are mentioned below:

• In August 2023, BoardPAC announced the launch of its revolutionary AI chat feature QME within its platform. With this introduction, the company will be able to provide board members, company secretaries, and executives with boardroom interactions and enhance the decision-making process.
  
  
• In June 2023, Azeus Convene announced the release of Convene 7.0, which includes new and improved board portal capabilities designed to increase boardroom efficiency, collaboration, and governance. The goal of the update is to enhance Convene's current core features and advantages while reinventing the meeting experience and enabling better governance. Convene 7.0, which was purposefully created for boards in a variety of sectors, turns meeting difficulties into useful features.

Such innovations and advancements by market players by adding new features and capabilities to the software are expected to boost the growth of the board management software market during the forecast period.

On the contrary, high cost of software hurdles the growth of Europe board management software market. 

Based on deployment, the Europe board management software market is bifurcated into cloud and on-premises. The cloud segment held 67.8% market share in 2023, amassing US$ 664.16 million. It is projected to garner US$ 1,266.93 million by 2031 to register 8.4% CAGR during 2023-2031.

In terms of end user, the Europe board management software market is segmented into corporate, education, healthcare, government, and others. The corporate segment held 47.7% share of Europe board management software market in 2023, amassing US$ 467.50 million. It is anticipated to garner US$ 885.35 million by 2031 to expand at 8.3% CAGR during 2023-2031.

Based on country, the Europe board management software market is categorized into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 29.4% share of Europe board management software market in 2023. It was assessed at US$ 287.85 million in 2023 and is likely to hit US$ 581.61 million by 2031, registering a CAGR of 9.2% during 2023-2031.

Key players operating in the Europe board management software market are Azeus Convene, Boardable Board Management Software Inc, BoardPAC Inc, Diligent Corporation, Nasdaq Inc, Passageways Inc, and Admincontrol, among others.

• In 2021, BoardBookit announced it has rebranded to Govenda. The new name and brand reflect the company's expanding vision and growing suite of corporate governance products. The product evolution, from a board portal to a board relationship and compliance management platform, is the driving force behind the rebranding.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com