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Business Continuity Management Planning (BCMP) Solutions Market Outlook, Size and Growth, Competitive Analysis, Major Competitors and Porter Analysis
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The global BCMP market is segmented on the basis of service, enterprise size, industry vertical, and region. The enterprise size category is further bifurcated into small & medium enterprise (SME), and large enterprise. Of the two enterprise sizes, large enterprise accounted for a larger market and is also expected to generate a higher demand for BCM and its adjacent solutions, during the forecast period. On the basis of service, the market is classified into implementation, integration, consulting, maintenance, and upgradation service. On the basis of industry vertical, the market is segmented into banking financial service and insurance (BFSI), retail and manufacturing, government and defense, IT and telecom, healthcare and pharmaceuticals, media and entertainment, and others.
North America has been the largest business continuity management planning solutions market. The market dominance is owed to rapid increase in demand for crisis management solutions, occurred due to the risk of business loss by cyber and non-cyber pressures to businesses. The market in Asia-Pacific is expected to grow the fastest during the forecast period. Robust growth in IT infrastructure, huge investments by governments in BCM solutions, and increasing rate of data centric application ecosystem, are some of the factors expected to back the growth of the regional market.
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Factors driving the growth of BCMP market include the increase in the demand for risk assessment from businesses, improved efficiency of business operations, and cost reduction of enterprises in case of business failure. However, the availability of information and awareness regarding BCMP among enterprises, is expected to hinder the growth of the global market during the forecast period. The increasing level of investments by business leaders and public/ private capital holders in the development of advanced and sophisticated BCM solutions promises an opportunity for the significant growth of the global market in the near future.
Pricing of solutions is very competitive in the global BCMP market. The pricing of large and multinational implementation of solutions can be as high as several millions or more. Some of the key players in the business continuity management planning market include Dell Technologies (RSA), Sungard Availability Services, Strategic BCP, Continuity Logic, Fusion Risk Management, LockPath, Fusion Risk, Fairchild Consulting, MetricStream Inc., eBRP Solutions Network Inc., and Quantivate.
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