Business Continuity Management Market to Surpass $1,673 Million Value in 2030, Says P&S Intelligence

NEW YORK, Jan. 23, 2023 /PRNewswire/ -- The worldwide business continuity management market has generated $536 million revenue in 2022, and it is projected to rise at a rate of 15.30%, to generate $1,673 million revenue in 2030, according to P&S Intelligence.

It is attributed to the growing dependence on digitalization and cutting-edge technologies, rising IT expenditure, increasing adoption of business continuity solutions in small and medium-sized enterprises, and surging operational risks in organizations.

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Advantages of Business Continuity Management

• Business continuity management solutions are opted for maintaining the strategy and preparedness for optimum operations or quickly restarting functioning after a disaster. BCM also involves identifying the various kinds of threats to organizations, such as from cyberattacks, equipment failure or premature breakdown, dissent among the staff, and market crash.
• In addition, it could be difficult to maintain a strong financial reputation and offer excellent customer service during mishaps. Thus, continuity planning becomes crucial for food product or healthcare-related companies, as it ensures the desired level of product and service quality.
• Large Enterprises Deploy Business Continuity Plans for Smooth Operations
• The large enterprise category has captured a substantial revenue share, of 75%, and it is projected to retain its dominance in the near future. It is ascribed to the capacity of large companies to make substantial IT investments for improving their business continuity plans.
• Additionally, large enterprises have significant amounts of vital enterprise data and operations spread around the world. Thus, they are compelled to incorporate efficient business continuity plans for the maintenance of operations.

Large Enterprises and SMEs Massively Adopt BIA

• BIA is a major aspect of BCM, and it is trending among large enterprises and SMEs globally. The major players provide customizable impact assessment and risk identification through BIA to end users.
• A rising number of organizations are adopting BIA as it offers assistance in identifying the critical activities and processes, such as ROI and external and internal dependence chains.

Browse detailed report on  Business Continuity Management Market Trends, Development and Demand Forecast Report 2030

Higher Prominence of BCM in BFSI Sector

The BFSI sector is projected to capture the largest industry share in the coming years. BCM holds great prominence in the financial industry as these institutions must be prepared to respond to crises such as natural disasters, major burglaries, cyberattacks, liquidation, and going under.

Rising Investments in IT To Fuel APAC-Based Industry

Market revenue in APAC is projected to experience a CAGR of 16.1% in the coming years. It is ascribed to the rising requirements to boost the economic growth of countries, presence of large enterprises, increasing demand for IT services in emerging economies, such as China and India, along with the emergence of cloud technologies.

Business Continuity Management Market Report Coverage

By Offering

• Solutions
• By crisis management
• By risk management
• By audit management
• By government, risk, and compliance (GRC)
• Others (supplier management, and cybersecurity management)
• Services
• By professional
• By managed

By Organization Size

• Small & Medium Enterprise (SME)
• Large Enterprises

By Industry

• Banking, Financial Services, and Insurance (BFSI)
• Government
• Healthcare
• Transportation & Logistics
• Energy & Utilities
• Manufacturing & Retail
• Telcom & IT
• Others (Hospitality, Oil & Gas, Automotive, and Entertainment)

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa
• U.A.E

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence