NEW
YORK, June 20, 2024 /PRNewswire/ -- The
global business continuity management solutions
market size is estimated to grow by USD
1.17 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of 19.6%
during the forecast period. Growing demand for business continuity
management solutions from various industries is driving market
growth, with a trend towards adoption of AI in
disaster recovery. However, system integration and
interoperability issues poses a challenge. Key market players
include Carbonite Inc., CLDigital, Datto Holdings Corp., Dell
Technologies Inc., Fair Isaac Corp., International Business
Machines Corp., LogicManager Inc., MetricStream Inc., Microsoft
Corp., NAVEX Global Inc., Oracle Corp., Quantivate LLC, SAI360
Inc., SAP SE, ServiceNow Inc., SolarWinds Corp., Sungard
Availability Services LP, VMware Inc., Wolters Kluwer NV, and
X2nSat Inc..
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Business Continuity
Management Solutions Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
19.6%
|
Market growth
2024-2028
|
USD 1173.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
16.67
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
43%
|
Key
countries
|
US, China, UK, Germany,
and Japan
|
Key companies
profiled
|
Carbonite Inc.,
CLDigital, Datto Holdings Corp., Dell Technologies Inc., Fair Isaac
Corp., International Business Machines Corp., LogicManager Inc.,
MetricStream Inc., Microsoft Corp., NAVEX Global Inc., Oracle
Corp., Quantivate LLC, SAI360 Inc., SAP SE, ServiceNow Inc.,
SolarWinds Corp., Sungard Availability Services LP, VMware Inc.,
Wolters Kluwer NV, and X2nSat Inc.
|
Market Driver
Business Continuity Management Solutions (BCMS) market is
experiencing significant growth due to the integration of
Artificial Intelligence (AI) and Machine Learning (ML). AI's
ability to automate tasks requiring human intelligence, such as
predictive analytics for proactive recoveries, increases labor
productivity. SaaS-based BCMS solutions are increasingly popular
due to their benefits, including instant access, pay-per-use
models, automatic updates, and response to security threats. The
demand for these solutions is increasing among companies of all
sizes. Vendors like Sungard Availability Services LP provide
SaaS-based BCMS solutions.
The Business Continuity Management Solutions market is
witnessing significant growth due to the increasing need for
organizations to mitigate risks and ensure business resilience.
Solutions such as Disaster Recovery, Business Continuity Planning,
and IT Services are in high demand. Cloud-based offerings are
trending, providing flexible and cost-effective solutions for
businesses of all sizes. Cybersecurity is a key concern, with an
increasing number of organizations investing in solutions to
protect against data breaches and other cyber threats.
Additionally, automation and artificial intelligence are being
adopted to streamline processes and improve efficiency. Regulations
like GDPR and HIPAA are driving the need for compliance-focused
solutions. Overall, the market is expected to continue growing as
businesses seek to minimize downtime and safeguard their
operations.
Research report provides comprehensive data on
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Report
Market Challenges
• The
integration of advanced technologies in various industries presents
challenges for business continuity management (BCM) solutions.
System compatibility issues arise, leading to additional costs and
reduced operational efficiency. Vendors must offer unified IT
solutions that seamlessly integrate with existing infrastructure.
Legacy IT systems and mergers require expert IT teams for smooth
integration. Standardized BCM solutions may not meet organizational
needs, and customization costs hinder adoption. To ensure accuracy,
vendors should conduct thorough trials before market
introduction.
• In today's
business landscape, ensuring uninterrupted operations is crucial.
However, various challenges hinder the implementation of effective
Business Continuity Management (BCM) solutions. These challenges
include complex IT environments, diverse regulatory requirements,
and the need for a comprehensive understanding of risks.
Additionally, limited budgets and resources, as well as the lack of
a clear BCM strategy, can pose significant obstacles. To address
these challenges, organizations require advanced BCM solutions that
offer adaptability, scalability, and ease of integration. These
solutions should provide real-time risk assessment, automated
disaster recovery, and seamless data backup and recovery
capabilities. By implementing such solutions, businesses can
mitigate risks, ensure business resilience, and maintain a
competitive edge.
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challenges - Request a sample report!
Segment Overview
This business continuity management solutions market report
extensively covers market segmentation by
- Deployment
- 1.1 Cloud-based
- 1.2 On-premises
- End-user
- 2.1 Large enterprise
- 2.2 SME
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Cloud-based- Businesses require reliable
solutions to ensure uninterrupted operations during crises. The
Business Continuity Management Solutions (BCMS) market offers such
solutions. BCMS help organizations prepare for potential
disruptions, mitigate risks, and recover quickly. These solutions
include disaster recovery, business impact analysis, and crisis
management tools. BCMS enable companies to maintain operations,
protect assets, and minimize downtime. By investing in BCMS,
businesses can safeguard their reputation and financial
stability.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Business Continuity Management Solutions (BCM/BCMS) market
is experiencing significant growth due to the increasing adoption
of Artificial Intelligence (AI) and Machine Learning (ML)
technologies. Cloud-Based Solutions are becoming increasingly
popular for their user-friendly interfaces and mobile
accessibility, enabling automation of risk assessment and
regulatory compliance processes. Digitization is a key driver, with
Small and Medium Enterprises (SMEs) recognizing the importance of a
robust BCM strategy to mitigate operational risks. Natural
disasters and cyberattacks continue to pose significant threats,
making advanced solutions essential for disaster recovery. The
healthcare vertical is a major focus area, with applications in DNA
sequencing, gene-editing technologies, drug discovery, genome
engineering, biomaterials, medical devices, and biomolecules. The
market for cutting-edge BCM solutions is expected to see
substantial IT spending in the coming years.
Market Research Overview
The Business Continuity Management Solutions (BCM) market
encompasses a range of offerings designed to help organizations
prepare for and respond to disruptive events. These solutions
include disaster recovery, business continuity planning, and IT
business continuity. BCM solutions aim to minimize downtime,
protect assets, and ensure the continuity of critical business
functions. They are essential for organizations to maintain
operations during crises and recover effectively. BCM solutions
cater to various industries and sectors, including finance,
healthcare, and government. They help organizations build
resilience, mitigate risks, and maintain compliance with regulatory
requirements. BCM solutions leverage advanced technologies such as
cloud, automation, and analytics to enhance their capabilities and
provide real-time insights.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Deployment
-
- End-user
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio