Growing adoption of business continuity management
in end user industries such as BFSI, IT & telecom, among others to drive
global business continuity management market
According to TechSci
Research report, “Global Business Continuity Management Market, By Offering, By Deployment Type, By Application, By
Organization Size, By Industry, By Region, Forecast & Opportunities, 2025”, global market for
business continuity management is expected to undergo double-digit growth
during the forecast period. Business Continuity Management (BCM) is basically a
mapping exercise in order to ensure that the products and services are delivered
to the clients at the desired time without any grievances from their end and
disruptions from the organization’s end. This is done to ensure that the
organizations avoid financial loss that comes along with the rapid growth in
the IT sector. Several operational risks also come along with the new-emerging organizations,
for instance, encryption & decryption risks, cybersecurity risks, conduct
& management risks, client & vendor risks and other risks that can
eventually lead to the deteriorating of the market. Thus, in order to avoid
these challenges, the SMEs and even the large enterprises have started adopting
the business continuity management solutions with the assistance of sturdy risk
mitigation, real-time risk management strategies and better risk accountability
to sustain their existence in the market. Furthermore, the organizations can
also seek help from the government in the aspects of audit and crisis
management along with providing the best possible solutions and services to the
companies. Increasing number of cybersecurity solutions which make companies
aware of the possible risks and attacks are further anticipated to contribute
to the burgeoning demand of the BCM solutions.
Browse 9 market data Tables and 46 Figures spread
through 106 Pages and an in-depth TOC on “Global Business Continuity Management Market"
Even though the BCM market has undergone
substantial growth in recent years, there are few factors that can be held
responsible for restraining the market. With the increasing indulgence of the
internet globally, it is important for the emerging markets, especially the
ones who are developing parallelly with the rapidly changing business
environment, to be aware of the possible risks and the respective solutions to
it. Thus, for the developing companies, it is quite arduous to cope up with the
business continuity management solutions due to lack of financial support which
might consequently restrain the market during the forecast period.
The market segmentation is based on offering,
deployment type, application, organization size, industry and region. On the
basis of organization size, the segment is further bifurcated into small &
medium enterprises (SMEs) and large enterprises. As of 2019, the largest share
in the BCM market was held by large enterprises on account of their
capabilities to provide funds for the IT sector that is anticipated to strengthen
the business continuity management solutions in that organization. However,
during the forecast period, SMEs are expected to witness an increase in their
market share in order to safeguard their business structure and work
environment. Thus, they are gradually getting inclined towards the adoption of
BCM and expanding their market share and consumer base.
In terms of regional analysis, North America is
expected to lead the market revenue share owing to the presence of an ample
number of IT companies and business enterprises in the region along with the increasing
of security threats. Besides, other regions including Asia-Pacific and other
geographies also account for a considerable share in the BCM market which is
again due to the increasing SMEs and large enterprises and the strengthening of
the rules and regulations by the government on BCM in the region.
The leading players in the global business
continuity management market include Avalution Consulting LLC, BC Management
Inc/CA, Green House Data Inc, Mancon LLC, Dell International LLC/EMC Corp,
StorageCraft Technology Corp, Metricstream Inc, Virtual Corp, Logicmanager Inc,
Fusion Risk Management Inc, Continuity Logic LLC, etc. Increasing the market
share is the major objective of organizations and thus to achieve this, they
endorse different strategies, for instance, mergers, launching of new products,
introduction of new strategies, etc.
Customers can also request for 10% free customization on this report.
“Global business continuity management market is
anticipated to witness double digit growth in the next five years as the technology
is assisting companies in various end user industries in business expansion.
These industries will be able to sustain only if they invest their funds
profitably in the BCM market as per the company requirements regarding
cybersecurity, encryption & decryption risks, cybersecurity risks, conduct
risks and other risks that might restrain the market during the forecast years.
Thus, the adoption of the business continuity management solutions for organizational
security is anticipated to be the major driving factor in this market until
2025,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Global Business Continuity Management Market By
Offering, By Deployment Type, By Application, By Organization Size, By
Industry, By Region, Forecast & Opportunities, 2025” has evaluated
the future growth potential of global business continuity management market and
provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyses the emerging trends along with
essential drivers, challenges and opportunities in global business continuity
management market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
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