TOKYO, Sept. 14, 2022 (GLOBE NEWSWIRE) — TOKYO, Sept. 15, 2022 (GLOBE NEWSWIRE) — The Global business continuity management market The size accounted for USD 510 million in 2021 and is expected to reach a market size of USD 1,811 million by 2030, growing at a CAGR of 15.5% from 2022 to 2030.
Key Highlights of the Business Continuity Management Market Report
- The global Business Continuity Management market value was USD 510 million in 2021, growing at a CAGR of 15.5% from 2022 to 2030
- The North American market dominated with more than 34% market share in 2021
- In the United States, approximately 65% of organizations have actually deployed BCM solutions
- In the past 18 months, two out of three midsize businesses have suffered ransomware attacks
- By offer, the solutions segment reached more than 65% of total market share in 2021
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|Market||business continuity management market|
|business continuity management market Size 2021||$510 million|
|business continuity management market Forecast 2030||$1,811 million|
|Business Continuity Management Market CAGR from 2022 to 2030||15.5%|
|business continuity management market Analysis period||2018 – 2030|
|business continuity management market base year||2021|
|business continuity management market Forecast data||2022 – 2030|
|Segments Covered||By offer, by organization size, by industry and by geography|
|business continuity management market Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Profiled Key Companies||International Business Machines (IBM) Corporation, Continuity Logic, Quantitative LLC, Sungard Availability Services, Logic Manager Inc., Dell Technologies Inc., MetricStream Inc., Avaluation, LockPath Inc., Fusion Risk Management Inc. and SAI Global Pty Ltd.|
|Report cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
In recent years, as businesses have become more dependent on advanced technologies across all industry sectors, data and infrastructure risks have increased. Robust business continuity and disaster recovery plans have become an essential part of any company’s overall risk management and resilience strategy. However, owing to the growing implementation of software as a service (SaaS) based business continuity management solutions among organizations across the globe, the business continuity management market is expected to grow rapidly. during the planned period. Additionally, the increased implementation of cloud computing, augmented reality (AR), artificial intelligence, virtual reality (VR), IoT, cybersecurity, big data analytics, mobility solutions, as well as robotic processes automated by end users are expected to drive demand. for the global business continuity management market. The growing need for greater recognition accuracy and risk intelligence for better decision making has increased the demand in the business continuity management market.
As the world becomes digital, business continuity management options are the essential solution for all industry sectors to remain competitive. Business Continuity Management is a solution or service designed to create simpler, more accurate and much more productive Business Continuity Planning/Business Continuity Management (BCP/BCM) processes. Business continuity management systems provide companies with real-time visibility into financial impact analyzes and help them identify gaps in their business continuity management plans. Business Continuity Management Systems are computer programs that organizations use to convert or optimize every procedure by changing business and enterprise models, methods, and activities to improve business performance. ‘company.
Global Business Continuity Management Market Dynamics
The business continuity management market is booming due to growing demand for business continuity and disaster recovery solutions from small and medium-sized businesses, along with increasing IT expenditures. Additionally, excessive operational issues in enterprises is accelerating the expansion of the global business continuity management market. The expansion of the IT industry can be attributed to the market share of BCM companies, as technological innovation also brings substantial economic investment risks, such as decryption and encryption risks, cyber fraud risks and stability, etc. As a result, there is a need for businesses to implement business continuity management solutions to provide security solutions, avoid economic losses on additional organizational issues that may arise, and maintain the place of work in a healthy environment.
Growing demand from organizations for a centralized process management repository is expected to drive the expansion of the business continuity management market in the coming years. Growing desire for real-time review of enterprise applications such as reviewing, creating and updating risk management systems plans is expected to drive the global business continuity management market throughout of the coming period. Growing demands for mitigating and resolving conflicts such as task assignment and control, progress tracking, programmable reports or dashboards are expected to propel the business continuity management systems market.
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The global business continuity management market has been segmented by Acumen Research and Consulting based on supply, organization size, and industry. By offering, the market is separated into solutions (by crisis management, by audit management, by risk management, by government, risk and compliance (GRC) and others) and services (by managed and by professional). By organization size, the market is divided into small and medium enterprises and large enterprises. By sector, the market is categorized into manufacturing & retail, energy & utilities, telecommunications & IT, BFSI, healthcare, government, transportation & logistics, and others.
Regional outlook of the global business continuity management market
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa constitute the regional classification of the global business continuity management market. According to business continuity management industry analysis, Asia-Pacific is the fastest growing region in the global market and is expected to witness significant growth in the coming years. This could be attributed to the rapid economic development of the region, the growing existence of large corporations, the rise of computing facilities, and the introduction of cloud computing. In addition, emerging countries in the region are trying to promote digitalization and are launching a number of initiatives to build IT infrastructure. Other variables that are significantly correlated with the growth of the market in the region include business organizations demanding and managing risk, increased risk responsibility oversight of business units and management, and risk assessment in real time.
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Business Continuity Management Market Players
Some of the major companies in the business continuity management market are International Business Machines (IBM) Corporation, Continuity Logic, Quantitative LLC, Sungard Availability Services, Logic Manager Inc., Dell Technologies Inc., MetricStream Inc., Avaluation, LockPath Inc., Fusion Risk Management Inc. and SAI Global Pty Ltd.
Questions this report answers
- What was the market size of Business Continuity Management Market in 2021?
- What will be the CAGR of the Business Continuity Management Market during the forecast period, 2022 to 2030?
- Who are the key players in the Global Business Continuity Management Market?
- Which region held the largest business continuity management market share in 2021?
- What are the key market drivers of Business Continuity Management Market?
- What is the largest end-user business continuity management market?
- What will the business continuity management market be worth in 2030?
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Mr. Richard Johnson
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