Press release
Inflated Adoption of Business Continuity Management Planning Solution Market to Fuel Revenue Growth During the Forecast Period
The global business continuity management planning solution market was valued at ~ US$ 300 Mn in 2014, and is expected to surpass ~ US$ 400 Mn by the end of 2019. The business continuity management planning solution market is expected to grow at a CAGR of ~ 13% between 2019 and 2029, and is estimated to reach a global value of ~ US$ 1.6 Bn by the end of 2029.
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The report on the global business continuity management planning solution market contains vital macroeconomic and forecast factors that are estimated to drive the growth of the global business continuity management planning solution market. The report on the business continuity management planning solution market also discusses the restraints that are expected to hamper the global market, along with potential opportunities and latest trends in the market across the value chain.
Emerging Data Recovery Solutions to Boost Market Growth
By component, the global business continuity management planning solution market is segmented into software/platform and services. However, services in business continuity management planning solutions can be further divided into professional service and managed service. Professional service is future divided into consulting service, implementation and integration service, and training service. Moreover, software/platform in business continuity management planning solution can enable users to protect enterprise data from natural as well as manmade disasters.
By application, the business continuity management planning solution market is segmented into business continuity and disaster recovery, data center and data center networking, governance risk and compliance (GRC), and risk management. The business continuity and disaster recovery segment of the business continuity management planning solution market is estimated to remain prominent in the global market owing to an emerging awareness regarding data protection and data recovery across the globe. The inherent aim behind the installation of business continuity management planning solutions is to provide resilience. Therefore, many companies are shifting towards adoption of cybersecurity solutions to secure data on the cloud without the risks of cyber threats.
By industry, the global business continuity management planning solution market is segmented into BFSI, healthcare, retail, telecom & IT, media & entertainment, travel & hospitality, transportation & logistics energy & utility, and others. The BFSI segment is projected to remain significant in the business continuity management planning solution market throughout the forecast period.
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By region, the business continuity management planning solution market has been segmented into seven regions, namely North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. In these regions, East Asia and Europe are estimated to grow with a paramount share in the global business continuity management planning solution market over the stipulated time period. However, North America and South Asia are also representing healthy potential for the business continuity management planning solution market owing to the new business opportunities in their respective regions.
Tier-3 Players in the Market to Account for 20% Revenue Share
The global business continuity management planning solution market is characterized as consolidated owing to the presence of a limited number of solution providers of business continuity management planning across the globe. For in-depth analysis, PMR has broken down the market structure up to three levels: Tier 1, Tier 2, and Tier 3. Here, Tier 3 players are estimated to account for a 20% share in the global market of business continuity management planning solution across the world. Moreover, leading players in the global business continuity management planning solution market are adopting business expansion, acquisition, and collaboration strategies in a bid to capture a significant share of the global market.
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