Business Continuity Management Size, Growth, Demand And Forecast 2023-2028

The latest report by IMARC Group, titled "Business Continuity Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The global business continuity management market size reached US$ 578 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,346 Million by 2028, exhibiting a growth rate (CAGR) of 15.0% during 2023-2028.

Business continuity management (BCM) is a comprehensive process that helps organizations prepare for and mitigate potential disruptions in operations. This could range from natural disasters like hurricanes and floods to human-induced crises such as cyberattacks and supply chain interruptions. The primary aim of BCM is to ensure the continuous functioning of critical business processes and systems during and after a crisis. It involves meticulously crafted plans, risk assessments, and training programs for personnel. Companies deploy BCM solutions to safeguard their assets, maintain the trust of stakeholders, and fulfill compliance requirements. At present, BCM is gaining immense traction among organizations across diverse sectors in today's interconnected world, where a single disruption can have a cascading effect on global operations.

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Business Continuity Management Market Trends and Drivers:

The global business continuity management market is primarily driven by the rising incidence of natural and man-made disasters, which has made organizations increasingly aware of the need for robust continuity plans. Moreover, there is a growing emphasis on compliance with regulations and standards, such as ISO 22301, which specifically deals with business continuity. In addition, the surge in cyber threats targeting critical infrastructure and sensitive data has necessitated stronger protective measures, thereby fueling demand for comprehensive BCM solutions. Furthermore, advances in technology are enabling more efficient and effective continuity planning, making it accessible to companies of all sizes. In line with this, as businesses globally become more interconnected and interdependent, the importance of having a well-structured business continuity management system in place is further magnified, propelling the market growth.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Offering:

Solutions 
Crisis Management
Risk Management
Audit Management
Government, Risk, and Compliance (GRC)
Others
Services  
Professional
Managed

Breakup by Organization Size:

Small and Medium-sized Enterprises
Large Enterprises

Breakup by Industry:

Banking, Financial Services, and Insurance (BFSI)
Government
Healthcare
Transportation and Logistics
Energy and Utilities
Manufacturing and Retail
Telecom and IT
Others

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Competitive Landscape with Key Player:

Fusion Risk Management Inc.
International Business Machines Corporation
Logic Manager Inc.
MetricStream Inc.
NAVEX Global Inc.
Quantivate LLC
Sungard Availability Services (Fidelity National Information Services Inc.)
Virtual Corporation

Explore full report with table of contents: https://www.imarcgroup.com/business-continuity-management-market

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