Status : Published | Published On : Jan, 2023 | Report Code : VRICT5140 | Industry : ICT & Media | Available Format : | Page : 189 |
The global Business Continuity Management (BCM) Market was valued at USD 1.62 billion in 2023 and is estimated to reach USD 3.82 billion by 2030 with a CAGR of 13.7%. The market is growing owing to increasing demand for business continuity solutions from small and medium enterprises and increasing IT spending. Furthermore, excessive operational risks in enterprises are other factors that are driving the growth of the global business continuity management market.
Business continuity management software helps organizations address and identify potential interruptions in their operations. Further, this software ensures an uninterrupted flow of companies operations thereby identifying the risks, adhering to procedures to alleviate risks and estimate potential disruption. Increasing benefits availed by business continuity management software is further bolstering the growth of the global business continuity management market.
Market Segmentation
Insight by Offering
On the basis of offering, the global business continuity management market is segmented into services and solutions. Amongst these segments, the solutions segment is estimated to generate larger revenue by 2030 owing to the extensive utilization of business continuity management solutions for crisis management, risk management, and audit management.
Insight by Organization Size
Based on organization size, the global business continuity management market is categorized into large enterprises and small and medium enterprises. Amongst these segments, large enterprises is anticipated to generate larger revenue by 2030 owing to the excessive capability of large enterprises to undertake significant IT investments that further assist the organization to enhance and deploy business continuity plans.
Insight by Industry
On the basis of industry, the global business continuity management market is segmented into healthcare, energy & utilities, banking financial services and insurance (BFSI), telecom & IT, government, manufacturing & retail, transportation & logistics, and others. Amongst these segments, the transportation & logistics industry is anticipated to witness the highest CAGR during the forecast period owing to the extensive risk observed in supply chain management.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 1.62 Billion |
Revenue Forecast in 2030 |
U.S.D. 3.82 Billion |
Growth Rate |
13.7% |
Segments Covered in the Report |
By Offering, By Organization Size, and By Industry |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Growth Drivers
Increasing operational risks in the enterprises along with extensive demand from small and medium enterprises are the key factors driving the growth global business continuity management market. Extensive acceptance of business impact analysis (BIA) amongst large and small and medium enterprises is a key factor pertaining to the growth of the global business continuity management market. There are several key players in the emerged and emerging economies that are offering risk management and customizable impact assessment to the end user with the help of BIA.
Furthermore, increasing demand for gap analysis and robust dependency modeling is further aiding enterprises to compare points of recovery related to the achievable items thereby flourishing BIA usage globally. Moreover, operational risks in enterprises are further escalating the growth of the global business continuity management market. In the present scenario, business organizations are witnessing enhanced economic uncertainties and imposing stringent regulatory compliances and fines.
The BCM market includes various components, such as software tools, consulting services, training programs, and advisory services, which assist organizations in developing and implementing effective business continuity strategies. These solutions help businesses assess potential risks, develop robust continuity plans, and ensure the resilience of critical processes and systems.
Restraints
Resistance of employees to changes, lack of budget and expertise, and security concerns are the key factors that are hampering the growth of the global business continuity management market.
Geography Insight
The business continuity management market in North America is anticipated to generate the largest revenue during the estimated period owing to the existence of a large number of business enterprises in the region, threats of disruption to operations pertaining to natural disasters, and the existence of flourishing financial institutions in the region.
Furthermore, the business continuity management market in Asia-Pacific is expected to witness the highest CAGR during the forecast period due to rapid growth in IT services, extensive growth of cloud techniques, and excessive existence of large enterprises in the region thus escalating the growth of business continuity management market in the region. Business organizations are demanding and mitigating risks, observing enhanced accountability of risk from business lines and management, and real-time risk assessment is other factors that are significantly contributing towards the growth of the business continuity management market in the region.
Competitive Insight
The eminent key players in the global magnesium stearate market are undertaking considerable investment decisions in order to gain competitive advantage. Moreover, entering into partnership agreements and performing mergers & acquisitions are the key development strategies being implemented by the crucial players in the magnesium stearate market.
Some of the key players in the global business continuity management market include Synology, Altaro Software, Storage Craft, MetricStream Inc., CloudAlly, VMware, Dell EMC, Strategic BCP, IDrive, Arcserve, International Business Machines (IBM) Corporation, Logic Manager Inc., Continuity Logic, Microsoft, Nero, Sungard Availability Services, Fusion Risk Management Inc., Quantitative LLC, MiniTool, Evaluation, LockPath Inc., SAI Global Pty Ltd, and Rackspace.
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from industry experts. The key profiles approached within the industry include, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end user surveys comprising consumers are also conducted to understand consumer behavior.
The Business Continuity Management (BCM) Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
Region Covered in the Report
Source: VynZ Research
Source: VynZ Research
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