Author: Acumen Research and Consulting

Business Continuity Management Market size in 2021 was USD 510 Million, Market Value set to reach USD 1811 Million by year 2030 at 15.5% CAGR

Business Continuity Management Market Overview

Business continuity management (BCM) is the process of planning, organizing, and implementing measures that ensure an organization can continue to operate in the face of unexpected events that may disrupt its normal operations. These events could include natural disasters, power outages, cyberattacks, or any other disruptions.

The goal of BCM is to help organizations minimize the impact of disruptions on their operations and ensure that they can recover quickly and resume normal operations as soon as possible. This is done through the development of business continuity plans that outline the steps the organization will take in the event of a disruption, as well as the resources and processes needed to execute those steps.

The BCM market size is expected to grow significantly in the coming years, driven by increasing concerns about the potential impact of natural disasters, cyberattacks, and other disruptions on businesses. The market is also being driven by regulatory requirements, such as those related to data protection and financial stability. BCM involves several key activities to ensure the continuity of an organization's operations in the face of disruptions. These activities include risk assessment, business impact analysis, plan development, training and testing, and maintenance.

Some of the key players offer software tools for creating and managing continuity plans, consulting services to help organizations develop and implement their plans, and training and certification programs for BCM professionals, including IBM, BMC Software, HPE, and Microsoft.

Business continuity management Market Research Report Highlights and Statistics

• The global BCM market is expected to grow at a CAGR of 13.2% from 2022 to 2030, set to reach a valuation of USD 1811 million by 2030.
• The demand for BCM is driven by increasing concerns about the potential impact of natural disasters, cyber attacks, and other disruptions on businesses.
• The BCM market is segmented based on the type of service provided, the size of the organization served, and the industry sector.
• Key players in the BCM market include IBM, BMC Software, HPE, and Microsoft.

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Business continuity Management Market Trends

• The pandemic has highlighted the importance of business continuity planning and the need to update it regularly.
• The risk landscape is rapidly evolving and planning for the last crisis may not be effective in the future.
• Data and technology can be used to anticipate and detect emerging risks and improve communication within the organization
• Risk management strategies include establishing redundancy and backups in the cloud, understanding the benefits of resiliency, and naming chief resiliency officers to increase focus on continuity
• Business continuity plans should be realistic, tested, and executable, and resources should be dedicated to carrying them out if necessary
• Successful business continuity planning involves a combination of technology, skills, and a new mindset, and should be integrated into everyday strategy and operations

Business Continuity Management Market Dynamics

• Increasing frequency and impact of natural disasters, such as earthquakes, hurricanes, and flooding, which can disrupt business operations and supply chains.
• Growing adoption of technology in business operations, which has made it important for organizations to have contingency plans in place in case of technological failures such as data breaches, cyber attacks, and system failures.
• There are regulatory requirements in many industries that mandate businesses have contingency plans in place in case of emergencies.
• The growing awareness of the importance of business continuity planning and the increasing complexity of business operations are also driving the growth of the business continuity management market share.

The above factors are the growth drivers of the business continuity management market size.

Growth Hampering Factors

Some potential growth-hampering factors for the business continuity management market size include the cost and complexity of implementing business continuity solutions, as well as a lack of awareness of the importance of business continuity planning among some businesses. These factors may discourage small and medium-sized businesses from investing in business continuity management solutions.

Market Segmentation

The business continuity management market share can be segmented based on a number of factors, including

• Type of solution offered: Can be divided into three main categories: disaster recovery, business continuity planning, and crisis management.
• Type of service offered: including consulting, training, and implementation services.
• Size of the organization: small and medium-sized businesses and large enterprises.
• Industry verticals: financial companies ,healthcare companies, IT companies, telecom companies, defense, government and manufacturing and so on.

Business continuity management Market Regional Overview

In terms of regional market share, the business continuity management market share is expected to be led by North America, followed by Europe and the Asia Pacific region. North America is expected to dominate the market due to the presence of a large number of businesses in the region and the high adoption of business continuity management solutions. The Asia Pacific region is expected to witness the fastest growth due to the increasing frequency of natural disasters and the growing reliance on technology in business operations. Europe is also expected to see excellent growth due to the increasing awareness of the importance of business continuity planning and the presence of strict regulatory requirements in the region.

Business continuity management Market Key Players

The following companies offer a range of business continuity management solutions, including disaster recovery, business continuity planning, and crisis management along with a variety of services, including consulting, training, and implementation.

• IBM Corporation
• Hewlett Packard Enterprise
• Microsoft Corporation
• SunGard Availability Services
• AT&T.
• Cisco Systems, Inc.
• EMC Corporation
• Dimension Data
• Symantec Corporation
• CA Technologies
• VMWare, Inc.
• Oracle
• EMC Corporation
• Xerox Corporation

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