US Company Secretarial Software Market Research Report: By Deployment (On-Premise, Cloud) - Forecast to 2035

US Company Secretarial Software Market Overview:

As per MRFR analysis, the US Company Secretarial Software Market Size was estimated at 1.14 (USD Billion) in 2023. The US Company Secretarial Software Market Industry is expected to grow from 1.2(USD Billion) in 2024 to 2.1 (USD Billion) by 2035. The US Company Secretarial Software Market CAGR (growth rate) is expected to be around 5.219% during the forecast period (2025 - 2035).

Key US Company Secretarial Software Market Trends Highlighted

In the US Company Secretarial Software Market, several notable trends are shaping its landscape. A significant trend is the increasing demand for compliance-driven solutions as businesses seek to align with regulatory requirements set by federal and state authorities. With recent changes in governance regulations, companies are prioritizing efficient management of their legal and regulatory obligations. This focus on compliance is driven by the need to avoid penalties, making software that provides streamlined legal document management increasingly important. Furthermore, there has been a rise in the adoption of cloud-based solutions, reflecting a broader trend towards digital transformation across all sectors in the US.

These cloud solutions allow organizations to manage their secretarial processes in a more flexible and accessible manner, enabling remote access and collaboration. As remote work becomes more entrenched, companies are looking for tools that facilitate efficiency and agility. Opportunities to be explored include the integration of artificial intelligence and automation into company secretarial tasks. These technologies can reduce administrative burdens, providing staff with more time to focus on strategic functions. Additionally, as small and medium-sized enterprises (SMEs) continue to grow, there is a considerable opportunity for software providers to tailor solutions that meet the specific needs of these businesses, which often lack the resources for extensive compliance teams. 

Lastly, data security and privacy are becoming critical considerations, as companies handle sensitive information. The development of software that not only ensures compliance but also guards against data breaches will likely attract attention. The compiled trends reflect a market that is increasingly focused on efficiency, compliance, and technology integration, indicative of the evolving landscape facing secretarial practices in the US today.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

US Company Secretarial Software Market Drivers

Increasing Regulatory Compliance Requirements

The US Company Secretarial Software Market Industry is witnessing growth due to the increasing regulatory compliance requirements imposed by government agencies. Recent trends indicate that regulatory bodies, including the Securities and Exchange Commission (SEC) and the Internal Revenue Service (IRS), are intensifying scrutiny on corporate governance and compliance activities. For example, in a report, the SEC highlighted a 20% increase in enforcement actions related to compliance failures in the last two years.This uptick in scrutiny has compelled organizations to adopt advanced company secretarial software to ensure they meet the evolving regulatory landscape, develop accurate record management protocols, and maintain transparent corporate governance practices. As such, market players like Diligent Corporation and Thomson Reuters are integrating compliance management tools within their software solutions to cater to this growing demand, positively influencing the US Company Secretarial Software Market growth trajectory.

Rise in Adoption of Cloud-Based Solutions

The transition towards cloud-based solutions is a significant driver in the US Company Secretarial Software Market Industry. The pandemic accelerated digital transformation trends, leading to a notable 45% increase in cloud adoption across various sectors, as reported by the National Institute of Standards and Technology (NIST). Companies are recognizing the advantages of cloud computing, such as enhanced accessibility, cost efficiency, and real-time collaboration features. Organizations like Microsoft and Google have pushed forth solutions that integrate company secretarial functionalities into their cloud platforms, streamlining management processes and appealing to a broader range of small to medium-sized enterprises in the US looking to optimize their corporate governance.

Growing Demand for Automation in Corporate Governance

The demand for automation in corporate governance is reshaping the US Company Secretarial Software Market Industry. Reports indicate that automation can reduce manual compliance tasks by up to 40%, increasing efficiency and minimizing human error. A survey from the American Institute of CPAs (AICPA) indicated that over 65% of corporations in the US are prioritizing automation to streamline secretarial tasks such as document preparation and meeting management. Vendors such as Agiloft and BoardEffect are actively developing solutions that leverage artificial intelligence to automate repetitive processes, contributing to reduced operational costs and improved accuracy in compliance records, hence bolstering the growth of the market.

US Company Secretarial Software Market Segment Insights:

Company Secretarial Software Market Deployment Insights

The Deployment segment within the US Company Secretarial Software Market plays a crucial role in the overall functionality and efficiency of corporate governance tools that facilitate compliance and administrative processes for businesses across the region. As organizations recognize the importance of maintaining accurate records, reporting obligations, and regulatory compliance, this segment has gained significant traction. The deployment of software solutions can be broadly categorized into On-Premise and Cloud-based systems, each offering distinct advantages that cater to varying business needs.On-Premise solutions provide companies with control over their data and security, which is particularly appealing for industries with stringent regulatory requirements, making them a preferred choice for many established firms. Conversely, Cloud-based solutions are becoming increasingly popular due to their scalability, flexibility, and ease of integration, allowing for real-time collaboration and access from anywhere, which is especially advantageous for remote teams. The trend towards digitization and automation in corporate functions continues to drive demand for these deployment types.

This shift is largely propelled by the need for businesses to enhance operational efficiencies while ensuring compliance with complex legal frameworks. Additionally, as more organizations adopt digital-first strategies, the requirement for secure, reliable, and user-friendly software is becoming essential. Market growth within the Deployment segment is influenced not only by technological advancements but also by evolving corporate governance practices and the increasing necessity for companies to adapt to changing regulatory landscapes. Thus, navigating the deployment of company secretarial software integrates not just IT solutions but also considers broader strategic initiatives within US companies aiming to streamline operations and remain competitive in an increasingly complex regulatory environment.

 

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

US Company Secretarial Software Market Key Players and Competitive Insights:

The US Company Secretarial Software Market is characterized by a diverse array of solutions designed to streamline governance, compliance, and corporate administration tasks. Companies in this sector offer software tools that help organizations manage their legal obligations, maintain accurate records, and facilitate communication among board members and shareholders. As businesses increasingly emphasize efficiency and regulatory compliance, the competition in this market has intensified. This competitive landscape is shaped by technological advancements, industry-specific requirements, and the constant evolution of regulations. Providers are focusing on enhancing user experience, integrating with other business systems, and offering customizable features to capture a larger share of the evolving market.

Sierra Wireless stands out in the US Company Secretarial Software Market with its innovative approach to corporate governance and compliance solutions. The company leverages its expertise in connectivity and IoT to create software that allows for seamless data management and communication. One of its key strengths lies in its user-friendly interface, which enables professionals to navigate complex tasks with ease, promoting adoption among users within corporate legal departments. Sierra Wireless distinguishes itself through its robust customer support and training services, which help clients optimize their software usage and ensure adherence to evolving regulations. The company’s agile development process allows it to quickly adapt to market trends and customer needs, positioning it favorably against its competitors in the US market.

Iron Mountain, on the other hand, holds a prominent position in the US Company Secretarial Software Market by offering a comprehensive suite of products and services tailored for document management and compliance needs. The company’s strengths include its extensive industry experience and reputation for secure data handling, which is increasingly critical in today's regulatory environment. Iron Mountain provides solutions that encompass not only company secretarial software but also physical document storage, digitization services, and secure shredding. This integration of services allows Iron Mountain to cater to a broad range of enterprise needs while maintaining a strong market presence. Additionally, the company has pursued strategic mergers and acquisitions to expand its capabilities and enhance its service offerings, thereby solidifying its competitive edge in the US market. By continually innovating and adapting its solutions, Iron Mountain remains a key player, especially for companies seeking reliable and comprehensive governance support.

Key Companies in the US Company Secretarial Software Market Include:

• Sierra Wireless


• Iron Mountain


• Escalent


• AbsoluteShareholder


• Planful


• Wolters Kluwer


• Aphria Inc


• Diligent Corporation


• Navex Global


• BoardEffect


• Zenefits


• Formswift


• DocuSign


• DealMaker


• SaaSOptics

US Company Secretarial Software Market Industry Developments

The US Company Secretarial Software Market has seen significant growth recently, with various firms enhancing their offerings to meet the increasing compliance demands from regulatory bodies. In September 2023, Diligent Corporation expanded its platform capabilities, focusing on integrated governance solutions for corporate executives. Iron Mountain announced in August 2023 that it would improve its document management solutions to facilitate compliance tracking, enabling businesses to better navigate regulatory changes. In July 2023, Wolters Kluwer launched new compliance audit features as part of its Governance, Risk, and Compliance software suite. In terms of mergers and acquisitions, in August 2023, AbsoluteShareholder acquired a smaller firm specializing in automated shareholder services, enhancing its market position. Furthermore, growth in the market valuation of companies like Planful and DocuSign indicates that the demand for efficient company secretarial solutions is on the rise, driven by increasing digitization and a push for streamlined compliance processes. Over the past two years, there have been numerous advancements in technological integrations in company secretarial software, significantly impacting how corporations manage their compliance obligations and record-keeping in the US.

US Company Secretarial Software Market Segmentation Insights

Company Secretarial Software Market Deployment Outlook

• On-Premise


• Cloud

Report Scope:

Report Attribute/Metric Source:	Details
MARKET SIZE 2018	1.14(USD Billion)
MARKET SIZE 2024	1.2(USD Billion)
MARKET SIZE 2035	2.1(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	5.219% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Sierra Wireless, Iron Mountain, Escalent, AbsoluteShareholder, Planful, Wolters Kluwer, Aphria Inc, Diligent Corporation, Navex Global, BoardEffect, Zenefits, Formswift, DocuSign, DealMaker, SaaSOptics
SEGMENTS COVERED	Deployment
KEY MARKET OPPORTUNITIES	Cloud-based solutions growth, Integration with compliance tools, Expansion in SMBs adoption, Automation of governance processes, Enhanced data security features
KEY MARKET DYNAMICS	regulatory compliance requirements, increasing adoption of cloud solutions, growing demand for automation, rise in company formation, need for data security
COUNTRIES COVERED	US