At 5.1% CAGR, Middle East & Africa Board Management Software Market is Projected to be Worth US$ 248.77 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa board management software market was valued at US$ 167.57 million in 2023 and is expected to reach US$ 248.77 million by 2031, registering a CAGR of 5.1% from 2023 to 2031. Growing awareness regarding benefits of board management software and growing adoption of cloud-based solutions are among the critical factors attributed to drive the Middle East & Africa board management software market growth.

Board management software allows the board members to have access to all the critical data and make smart decisions remotely in real time. Board management software can also help cut down on hours spent preparing minutes of meeting, as all documents can be uploaded to the cloud instead of assembling, printing, and providing hard copies. Administrators can also set up committees, call meetings, ask for votes, make surveys, and share information using board management software. Agendas for meetings can be made once and kept as templates for further use. Board management software can also offer strict controls over who gets access to what information. Administrators have easy access to change profiles, add or remove members, and help with lost passwords. Although a member may be added to many committees, only the select members of the committee have access to secret committee information. Thus, the board management software particularly helps streamline administration, eliminate key pain points, improve communications, increase engagement, and enhance organizational governance.

On the contrary, high cost of software hurdles the growth of Middle East & Africa board management software market.

Based on deployment, the Middle East & Africa board management software market is bifurcated into cloud and on-premises. The cloud segment held 60.3% market share in 2023, amassing US$ 101.09 million. It is projected to garner US$ 160.88 million by 2031 to register 6.0% CAGR during 2023-2031.

In terms of end user, the Middle East & Africa board management software market is segmented into corporate, education, healthcare, government, and others. The corporate segment held 64.4% share of Middle East & Africa board management software market in 2023, amassing US$ 107.88 million. It is anticipated to garner US$ 165.34 million by 2031 to expand at 5.5% CAGR during 2023-2031.

Based on country, the Middle East & Africa board management software market is categorized into the UAE, South Africa, Saudi Arabia, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 43.2% share of Middle East & Africa board management software market in 2023. It was assessed at US$ 72.32 million in 2023 and is likely to hit US$ 116.32 million by 2031, registering a CAGR of 6.1% during 2023-2031.

Key players operating in the Middle East & Africa board management software market are Azeus Convene, Boardable Board Management Software Inc, BoardPAC Inc, Diligent Corporation, Nasdaq Inc, and Passageways Inc, 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.

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