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Middle East & Africa Board Management Software Market Forecast to 2031
Middle East & Africa Board Management Software Market Forecast to 2031 – Regional Analysis – by Deployment (Cloud and On-Premises) and End User (Corporate, Education, Healthcare, Government, and Others)
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Description
Growing Technological Advancement Bolsters Middle East & Africa Board Management Software Market
Artificial intelligence (AI) dramatically impacts many elements of corporate operations as it develops. Its inclusion in the board management software may aid in improving its functions further. Boards can gain greater insights into risk concerns, market trends, and business performance with the help of AI-powered data analytics technologies. AI systems are able to spot patterns and connections in real-time data sets that human decision-makers could miss. This enables boards to make better decisions, reduce risks, and capitalize on new opportunities. Routine board procedures, including agenda preparation, document management, and meeting scheduling, can be automated and streamlined by technology. Further, natural language processing-enabled virtual assistants can manage action items, send reminders, and help with board member communication, all of which increase productivity and efficiency. Additionally, the integration of Blockchain technology allows for the nearly instantaneous verification of whether financial statements and corporate accounts adhere to the necessary accounting standards. As a result, the board will no longer be responsible for reporting, compliance, and auditing. With all the above benefits of the integration of AI and blockchain in the board management software, it is expected that the adoption of board management software powered by AI is expected to increase globally.
Middle East & Africa Board Management Software Market Overview
The growth of the MEA board management software market is attributed to the growing adoption of remote working in the region. The governments of the MEA countries are taking various steps to promote a remote working culture. For instance, in March 2023, the UAE government launched a new HR initiative to expand the idea of remote work by allowing government employees to work from public libraries. This program aims to give workers greater flexibility in their work schedules and encourage remote working culture.
Middle East & Africa Board Management Software Market Revenue and Forecast to 2031 (US$ Million)
Middle East & Africa Board Management Software Market Segmentation
The Middle East & Africa board management software market is categorized into deployment, end user, and country.
Based on deployment, the Middle East & Africa board management software market is bifurcated into cloud and on-premises. The cloud segment held a larger Middle East & Africa board management software market share in 2023.
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 the largest Middle East & Africa board management software market share in 2023.
By country, the Middle East & Africa board management software market is segmented into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. The UAE dominated the Middle East & Africa board management software market share in 2023.
Azeus Convene, Boardable Board Management Software Inc, BoardPAC Inc, Diligent Corporation, Nasdaq Inc, and Passageways Inc are some of the leading companies operating in the Middle East & Africa board management software market.
Summary Info
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According toThe Research Team’ 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.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa board management software market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the Middle East & Africa board management software market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Board Management Software Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain
5. Middle East & Africa Board Management Software Market Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Awareness Regarding Benefits of Board Management Software
5.1.2 Increasing Enhancement in Security Features
5.2 Market Restraints
5.2.1 High Cost of Software
5.3 Market Opportunities
5.3.1 Continuous Product Innovation by Market Players
5.3.2 Growing Adoption of Cloud-Based Solutions
5.4 Future Trends
5.4.1 Growing Technological Advancement
5.5 Impact of Drivers and Restraints:
6. Board Management Software Market – Middle East & Africa Market Analysis
6.1 Middle East & Africa Board Management Software Market Revenue (US$ million), 2021-2031
6.2 Board Management Software Market Forecast Analysis
7. Middle East & Africa Board Management Software Market Analysis – by Deployment
7.1 Cloud
7.1.1 Overview
7.1.2 Cloud: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
7.2 On-Premises
7.2.1 Overview
7.2.2 On-Premises: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
8. Middle East & Africa Board Management Software Market Analysis – by End User
8.1 Corporate
8.1.1 Overview
8.1.2 Corporate: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
8.2 Education
8.2.1 Overview
8.2.2 Education: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
8.3 Healthcare
8.3.1 Overview
8.3.2 Healthcare: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
8.4 Government
8.4.1 Overview
8.4.2 Government: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
9. Middle East & Africa Board Management Software Market – Country Analysis
9.1 Middle East & Africa
9.1.1 Middle East & Africa: Board Management Software Market – Revenue and Forecast Analysis – by Country
9.1.1.1 Middle East & Africa: Board Management Software Market – Revenue and Forecast Analysis – by Country
9.1.1.2 South Africa: Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
9.1.1.2.1 South Africa: Board Management Software Market Breakdown, by Deployment
9.1.1.2.2 South Africa: Board Management Software Market Breakdown, by End User
9.1.1.3 Saudi Arabia: Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
9.1.1.3.1 Saudi Arabia: Board Management Software Market Breakdown, by Deployment
9.1.1.3.2 Saudi Arabia: Board Management Software Market Breakdown, by End User
9.1.1.4 United Arab Emirates: Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
9.1.1.4.1 United Arab Emirates: Board Management Software Market Breakdown, by Deployment
9.1.1.4.2 United Arab Emirates: Board Management Software Market Breakdown, by End User
9.1.1.5 Rest of Middle East & Africa: Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
9.1.1.5.1 Rest of Middle East & Africa: Board Management Software Market Breakdown, by Deployment
9.1.1.5.2 Rest of Middle East & Africa: Board Management Software Market Breakdown, by End User
10. Competitive Landscape
10.1 Heat Map Analysis By Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Azeus Convene
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Boardable Board Management Software, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 BoardPAC Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Diligent Corporation.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Nasdaq Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Passageways Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
13. Appendix
13.1 Glossary
13.2 About The Research Team
Table 1. Middle East & Africa Board Management Software Market segmentation
Table 2. List of Vendors
Table 3. Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
Table 4. Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million) – by Deployment
Table 5. Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million) – by End User
Table 6. Middle East & Africa: Board Management Software Market – Revenue and Forecast to 2031 (US$ million) – by Country
Table 7. South Africa: Board Management Software Market – Revenue and Forecast to 2031 (US$ million) – by Deployment
Table 8. South Africa: Board Management Software Market – Revenue and Forecast to 2031 (US$ million) – by End User
Table 9. Saudi Arabia: Board Management Software Market – Revenue and Forecast to 2031 (US$ million) – by Deployment
Table 10. Saudi Arabia: Board Management Software Market – Revenue and Forecast to 2031 (US$ million) – by End User
Table 11. United Arab Emirates: Board Management Software Market – Revenue and Forecast to 2031 (US$ million) – by Deployment
Table 12. United Arab Emirates: Board Management Software Market – Revenue and Forecast to 2031 (US$ million) – by End User
Table 13. Rest of Middle East & Africa: Board Management Software Market – Revenue and Forecast to 2031 (US$ million) – by Deployment
Table 14. Rest of Middle East & Africa: Board Management Software Market – Revenue and Forecast to 2031 (US$ million) – by End User
Table 15. Heat Map Analysis By Key Players
Figure 1. Middle East & Africa Board Management Software Market segmentation, by Country
Figure 2. Ecosystem Analysis
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Middle East & Africa Board Management Software Market Revenue (US$ million), 2021-2031
Figure 5. Middle East & Africa Board Management Software Market Share (%) – by Deployment (2023 and 2031)
Figure 6. Cloud: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
Figure 7. On-Premises: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
Figure 8. Middle East & Africa Board Management Software Market Share (%) – by End User (2023 and 2031)
Figure 9. Corporate: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
Figure 10. Education: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
Figure 11. Healthcare: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
Figure 12. Government: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
Figure 13. Others: Middle East & Africa Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
Figure 14. Middle East & Africa: Board Management Software Market Revenue, by Key Countries, (2023) (US$ Mn)
Figure 15. Middle East & Africa: Board Management Software Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 16. South Africa: Board Management Software Market – Revenue and Forecast to 2031(US$ million)
Figure 17. Saudi Arabia: Board Management Software Market – Revenue and Forecast to 2031(US$ million)
Figure 18. United Arab Emirates: Board Management Software Market – Revenue and Forecast to 2031(US$ million)
Figure 19. Rest of Middle East & Africa: Board Management Software Market – Revenue and Forecast to 2031 (US$ million)
The List of Companies – Middle East & Africa Board Management Software Market
o Azeus Convene
o Boardable Board Management Software, Inc
o BoardPAC Inc.
o Diligent Corporation
o Nasdaq Inc
o Passageways Inc
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