The latest report by IMARC Group, titled โ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐จ๐ง๐ญ๐ข๐ง๐ฎ๐ข๐ญ๐ฒ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฒ ๐๐๐๐๐ซ๐ข๐ง๐ (๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐๐ซ๐ฏ๐ข๐๐๐ฌ), ๐๐ซ๐ ๐๐ง๐ข๐ณ๐๐ญ๐ข๐จ๐ง ๐๐ข๐ณ๐ (๐๐ฆ๐๐ฅ๐ฅ ๐๐ง๐ ๐๐๐๐ข๐ฎ๐ฆ-๐ฌ๐ข๐ณ๐๐ ๐๐ง๐ญ๐๐ซ๐ฉ๐ซ๐ข๐ฌ๐๐ฌ, ๐๐๐ซ๐ ๐ ๐๐ง๐ญ๐๐ซ๐ฉ๐ซ๐ข๐ฌ๐๐ฌ), ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ (๐๐๐ง๐ค๐ข๐ง๐ , ๐
๐ข๐ง๐๐ง๐๐ข๐๐ฅ ๐๐๐ซ๐ฏ๐ข๐๐๐ฌ, ๐๐ง๐ ๐๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐ (๐๐
๐๐), ๐๐จ๐ฏ๐๐ซ๐ง๐ฆ๐๐ง๐ญ, ๐๐๐๐ฅ๐ญ๐ก๐๐๐ซ๐, ๐๐ซ๐๐ง๐ฌ๐ฉ๐จ๐ซ๐ญ๐๐ญ๐ข๐จ๐ง ๐๐ง๐ ๐๐จ๐ ๐ข๐ฌ๐ญ๐ข๐๐ฌ, ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ง๐ ๐๐ญ๐ข๐ฅ๐ข๐ญ๐ข๐๐ฌ, ๐๐๐ง๐ฎ๐๐๐๐ญ๐ฎ๐ซ๐ข๐ง๐ ๐๐ง๐ ๐๐๐ญ๐๐ข๐ฅ, ๐๐๐ฅ๐๐๐จ๐ฆ ๐๐ง๐ ๐๐, ๐๐ง๐ ๐๐ญ๐ก๐๐ซ๐ฌ), ๐๐ง๐ ๐๐๐ ๐ข๐จ๐ง ๐๐๐๐-๐๐๐๐โ, The global business continuity management market size reached US$ย 664.7ย Million inย 2023. Looking forward, IMARC Group expects the market to reach US$ย 2,077.7ย Million byย 2032, exhibiting a growth rate (CAGR) ofย 13.5%ย duringย 2024-2032.
Business Continuity Management (BCM) is a thorough procedure aimed at aiding organizations in anticipating and managing potential operational disruptions. These disruptions may vary from natural calamities like hurricanes and floods to man-made emergencies such as cyberattacks and interruptions in the supply chain. The core objective of BCM is to ensure uninterrupted operation of crucial business processes and systems amidst crises and post-crisis scenarios. This involves the development of meticulously planned strategies, risk evaluations, and training initiatives for staff members. Companies adopt BCM strategies to protect their assets, uphold stakeholder trust, and meet regulatory standards. Presently, BCM is gaining significant momentum across various sectors in today's interconnected world, wherein a single disruption can trigger widespread repercussions across global operations.
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.
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Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Offering:
Solutionsย
Crisis Management
Risk Management
Audit Management
Government, Risk, and Compliance (GRC)
Others
Services ย
Professional
Managed
Breakup by Organization Size:
Small and Medium-sized Enterprises
Large Enterprisesย
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
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