Business Continuity Management Planning Solution Market Segmented By Component - Software, Platform, Services, Professional Service, Consulting Service, Implementation and Integration Service, Training Service, Managed Service
Industry: IT and Telecommunication
Published Date: February-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 344
Report ID: PMRREP17440
Business continuity management planning solution market value is analyzed to be around US$ 540.3 Mn in 2022 and the market is projected to reach around US$ 2,392.3 Mn by 2033. It is also estimated to valuate to US$ 610.5 Mn in 2023 and would grow at a CAGR of 14.6% from 2023-2033.
Business continuity management (BCM) is the process of developing, implementing, and maintaining strategies and plans to ensure that an organization can continue to function in the event of a disruptive incident, such as a natural disaster, cyber-attack, or other crisis. A BCM planning solution is a tool or system that helps organizations plan for and manage the continuity of their critical business operations.
The goal of a BCM planning solution is to help organizations minimize the impact of disruptions on their operations, maintain critical services and systems, and restore normal business operations as quickly as possible. By having a robust BCM plan in place, organizations can be better prepared to respond to unexpected events and minimize their impact on the business.
Increased need for disaster recovery planning since the frequency & impact of natural disasters and cyber-attacks have increased the need for organizations to have a robust disaster recovery plan in place. Additionally, rising governmental regulations such as ISO 22301 & the General Data Protection Regulation (GDPR) require organizations to have a business continuity plan in place.
Such factors are analysed to be the key factors behind the increasing adoption of these solution.
Business continuity management planning solution market accounts for the 18% of the business management solutions market.
As per the regional market outlook North American region held a leading market share of 30.4% in the global market in 2022. Whereas the demand for these solution in the Europe region is analyzed to hold the market share of around 25.2% of the market in 2023.
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Business continuity management planning solution Market Size (2023) |
US$ 610.5 Mn |
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Projected Market Value (2033) |
US$ 2,392.3 Mn |
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Global Market Growth Rate (2023-2033) |
14.6% |
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Governance Risk And Compliance (GRC) segment Market Share (2022) |
29.7% |
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India Market Growth Rate (2022) |
15.1% |
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BFSI Segment Market Share (2022) |
18.1% |
“Lack of Awareness along with the High Costs of Implementation”
Despite the growing importance of BCM, many organizations are still unaware of its significance and the benefits of using BCM solutions. Additionally, Implementing a BCM solution can be expensive, particularly for small and medium-sized enterprises (SMEs), which can be a barrier to adoption as well as some BCM solutions can be complex & difficult to use, leading to low adoption rates and hindering market growth.
These are some major factors impending the market growth.
“Suitable Digital Infrastructure, Facilitating the Adoption of Business Continuity Management Planning Solutions”
The increasing use of cloud technology has made it easier for organizations to implement business continuity management planning solutions, as these solutions are often cloud-based and can be accessed from anywhere.
Such factors are giving favourable opportunity for the adoption of this solution in the US region contributing to its significant share of 28.1% in 2022.
“Rising Awareness among the Businesses”
Growing awareness of the importance for the continuity in business management since various organizations are becoming more aware of the importance of having a comprehensive business continuity plan in place, which is driving the growth of the market.
Moreover, development of advanced technologies such as artificial intelligence, machine learning & blockchain is expected to drive the growth of the market by providing more effective and efficient business solutions.
These factors allow the market growth at a CAGR of 15.1% during the forecast period in India.
“Increasing Adoption of Such Solutions in SMEs”
As organizations adopt digital transformation initiatives, they are becoming more reliant on technology and therefore, the need for robust business continuity management planning solutions is increasing.
Additionally, small and medium-sized enterprises (SMEs) are also adopting business continuity management planning solutions due to their affordability and ease of use.
Such factors are expected to accelerate the adoption of business continuity management planning solution systems in the Germany.
Why governance risk and compliance (GRC) segment hold the major Market Share for Business Continuity Management Planning Solution Market?
Governance, risk, and compliance (GRC) is a key segment for the business continuity management planning (BCMP) solution market because it provides a framework for organizations to manage risk, ensure compliance with regulatory requirements, and maintain overall operational efficiency. This is especially important in today's business environment where organizations face numerous risks such as cyber-attacks, natural disasters, and pandemic outbreaks.
These factors are influencing the major share of 29.7% of governance, risk, and compliance (GRC) segment in the market.
Why the Business Continuity Management Planning Solution for BFSI segment have the significant share in 2022?
The BCMP solution market for the banking, financial services, and insurance (BFSI) segment holds a significant share due to several factors such as the BFSI sector is heavily regulated, & financial institutions are required to have comprehensive BCMP solutions in place to meet regulatory standards and avoid penalties.
Additionally, BFSI sector plays a critical role in the global economy, and disruptions to their operations can have far-reaching consequences. As a result, financial institutions invest heavily in BCMP solutions to ensure the continuation of their operations in the event of a disruption.
Thus, market share of BFSI segment in the business continuity management planning solution is analysed to be 18.1% in 2022.
Competition in the BCM planning solution market is intense, with companies vying for market share through the development of new and innovative products, pricing strategies & marketing and sales efforts. Companies are also looking to differentiate themselves from their competitors through the use of emerging technologies such as artificial intelligence and machine learning, which can help improve the accuracy and effectiveness of BCM planning solutions.
Recent developments related to key players providing business continuity management planning solution market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
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Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2018-2022 |
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Market Analysis |
US$ Mn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
By Component:
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In 2023, the market value of business continuity management planning solution was US$ 610.5 Mn.
The global business continuity management planning solution market is estimated to advance at a 14.6% CAGR through 2033.
The market for business continuity management planning solution is forecasted to climb to US$ 2,392.3 Mn by 2033 end.
Demand for business continuity management planning solution market in India is projected to rise at a CAGR of 15.1% for 2023-2033.
In 2022, the North America business continuity management planning solution market held a dominant market share of 30.4%.
