Company Secretarial Software Market Strategies, Revenue, Size, Opportunities
Posted by Sakshi Mishra on April 22nd, 2021
Global Company Secretarial Software Market is expected to reach USD 3.04 Billion by 2025, registering a CAGR of 5.3% during the forecast period, 2019–2025. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the coming years.
The global company secretarial software market is fragmented, with several small- and mid-size players offering their solutions to enterprises. However, few key players dominate the market with a significant market share and also record intense rivalry. Few of these players are Wolters Kluwer, Axardigital, Diligent Corporation, and Corporatek. These players compete based on price, software features, and market presence. Apart from these players, a few of the small- to mid-sized players have emerged as innovators; these players include CimplyFive, Volody, and Relate Software. Companies such as Computershare Limited and TMF Group offer secretarial services and entity management software to enterprises; however, they do not provide dedicated company secretarial software. Hence, they do not compete directly with the aforementioned players in the market.
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Global Company Secretarial Software Market has been segmented based on Component, Deployment, Enterprise Size, Vertical, and Region.
Based on component, the company secretarial software market has been segmented into solution and service. The solution segment includes tools or software used for streamlining corporate recordkeeping and annual filing required to be kept up to date in compliance with the local regulations. The service segment includes professional services offered by solution providers. These professional services include training & consulting and support & maintenance services. In 2018, the solution segment accounted for the larger share in the overall market. Secretarial software is being used by enterprises of all sizes to manage their book-keeping. With the continuously rising demand for such tools in the verticals, including banks and insurance, the market share for the solution segment is expected to be larger during the forecast period.
Based on deployment, the company secretarial software market has been segmented into on-premise and cloud. The on-premise segment accounted for the larger market share in the year 2018; however, the cloud-based segment is expected to grow at a higher CAGR during the forecast period. The reasons for the same are the comprehensive benefits offered by cloud-based solutions such as flexibility, cost-effectiveness, and security.
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About the AuthorSakshi Mishra
Joined: September 30th, 2020
Articles Posted: 512
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