The company secretarial software market is expected to register a CAGR of 6.1% during 2023–2031. Focus on pricing, product manufacturing, growth drivers, and industry-specific customization are likely to remain key trends in the market.
Company Secretarial Software Market Analysis
- An increasing number of companies are now adopting Company Secretarial Software because it enables them to organize corporate governance processes and comply with statutes in a speedier manner.
- This software has been proven to play an important role in ensuring statutory compliance by helping law firms and in-house legal teams keep corporate data and compliance up-to-date.
- There is an emerging trend that large companies are now looking for industry-specific customization and segmentation based on the types and industries. In addition to industry-specific customizations, an increasing number of investors are now considering enhanced data security and confidentiality of corporate secretarial activities.
- This could be explained by the practicality of Company Secretarial Software. When it comes to corporate governance and compliance, speed is of the essence.
Company Secretarial Software Market Overview
- The burgeoning need for improved processes of corporate governance and compliance with Government and other regulatory requirements of businesses is the driving force behind the increasing adoption of Company Secretarial Software.
- The market landscape is also seeing rising trends of industry-specific customization, cloud deployment, and segmentation as per company and industry types.
- Among the trends making their presence felt are the market players’ focus on enhanced data security and confidentiality of corporate secretarial activities.
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Company Secretarial Software Market: Strategic Insights
CAGR (2023 - 2031)6.1%- Market Size 2023
US$ XX Million - Market Size 2031
US$ XX Million
Market Dynamics
- The growing complexity of legal and regulatory frameworks, increasing demand for efficient and streamlined corporate governance processes
- SMEs Adoption
- Focus on pricing, product manufacturing, and growth drivers, industry-specific customization
Key Players
- Atlas Computer Systems Limited
- Axardigital
- BTCSoftware Limited
- CimplyFive
- Corporatek Inc
- Diligent Corporation
- GreatSoft
- Vistra
- Volody
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Component - Solution and Service
Deployment - On-Premise and Cloud
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Company Secretarial Software Market Drivers and Opportunities
Increasing Demand for Efficient and Streamlined Corporate Governance Processes to Favor the Market
- Due to the increased ability to make prompt decisions, the global demand for products to enhance business efficiency and smoother corporate governance processes is growing significantly. This is further driving the market for Company Secretarial Software.
- The ability to manage global subsidiaries and implement sound governance and compliance policies are two reasons businesses choose to implement this kind of software. By ensuring that boards and committees are run effectively and providing companies with a single, automated shared resource, decision-making becomes more transparent and effective. The software itself provides a single and innovative system that can accommodate the scope of company secretarial responsibilities.
- Manual processes are replaced by intelligent form completion and e-filing capabilities, while essential systems are centralized to meet and even anticipate the need for corporate secretarial functions within an organization.
- The continued development and investment in core business functions are driven by the need to meet governance challenges. More importantly, businesses are getting more transparent about board and committee meetings. They also view the development of their business strategy as crucial for improving their brand and offerings over the coming years. Choosing to implement Company Secretarial Software helps organizations achieve all of the above.
SMEs Adoption
- The adoption of Company Secretarial Software is delivering growth potential in the market. The need of the hour for small and medium-sized enterprises (SMEs) is an efficient Customer Relationship Management (CRM) that will provide robust corporate governance processes and compliance with regulatory enforcement over corporate governance.
- The use of Company Secretarial Software allows SMEs to automate their governance procedures, thereby making governance more transparent and effective. This use of software also improves compliance with the legal and regulatory requirements. By implementing Company Secretarial Software, SMEs have an opportunity to improve operational efficiency, reduce manual processing, and gain a competitive advantage in the market.
- SMEs also have a further opportunity to accelerate the use of digital technologies and software processes that will propel them to grow their business by expanding to new markets, developing stronger relationships with their customers, and gaining insights about their customers' needs and their product development processes. Looking ahead, the adoption of Company Secretarial Software by SMEs is leading the global market to growth and innovation.
Company Secretarial Software Market Report Segmentation Analysis
Key segments that contributed to the derivation of the company secretarial software market analysis are component, deployment, organization size, and vertical.
- Based on components, the company secretarial software market is divided into solutions and services.
- Based on the deployment, the company secretarial software market is divided into on-premise and cloud.
- Based on organization size, the company secretarial software market is divided into large enterprises and small and medium enterprises
- Based on the vertical, the company secretarial software market is divided into BFSI, IT and telecom, law firms, and others.
Component (Solution and Service), Deployment (On-Premise and Cloud), Organization Size (Large Enterprises and Small and Medium Enterprises), Vertical (BFSI, IT and Telecom, Law firms, and Others)
Company Secretarial Software Market Share Analysis by Geography
- Company Secretarial Software Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Company Secretarial Software market dynamics, such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the Company Secretarial Software market in these regions.
Company Secretarial Software Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ XX Million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2023 - 2031) | 6.1% |
| Historical Data | 2021-2023 |
| Forecast period | 2024-2031 |
| Segments Covered | By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Company Secretarial Software Market News and Recent Developments
The company secretarial software market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the company secretarial software market are listed below:
- IT software and platform provider ARB Bhd has launched its self-developed cloud company secretary (CoSec) platform, “ARB Cloud Cosec,” to fully automate the existing company secretary services. ARB group aims to capture 10% of the PLCs market and another 20% of the SME market. (Source: ARB Bhd, Press Release, September 2021)
Company Secretarial Software Market Report Coverage and Deliverables
The “Company Secretarial Software Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Company secretarial software market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Company secretarial software market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Company secretarial software market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the company secretarial software market
- Detailed company profiles
- Analyse historique (2 ans), année de base, prévision (7 ans) avec TCAC
- Analyse PEST et SWO
- Taille du marché Valeur / Volume - Mondial, Régional, Pays
- Industrie et paysage concurrentiel
- Ensemble de données Excel
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Questions fréquemment posées
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The leading players operating in the company secretarial software market are Atlas Computer Systems Limited, Axardigital, BTCSoftware Limited, CimplyFive, Corporatek Inc, Diligent Corporation, GreatSoft, Vistra, and Volody.
Focus on pricing, product manufacturing, growth drivers, and industry-specific customization are likely to remain key trends in the market.
The global Company Secretarial Software market is expected to grow at a CAGR of 6.1% during the forecast period 2023 - 2031.
The growing complexity of legal and regulatory frameworks and increasing demand for efficient and streamlined corporate governance processes are expected to drive the company secretarial software market.
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The List of Companies
1. Atlas Computer Systems Limited
2. Axardigital
3. BTCSoftware Limited
4. CimplyFive
5. Corporatek Inc
6. Diligent Corporation
7. GreatSoft
8. Vistra
9. Volody
10. Wolters Kluwer
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published and advised several client across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organization are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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