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on May 9, 2024
The latest report by IMARC Group, titled “Business Continuity Management Market Report by Offering (Solutions, Services), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Industry (Banking, Financial Services, and Insurance (BFSI), Government, Healthcare, Transportation and Logistics, Energy and Utilities, Manufacturing and Retail, Telecom and IT, and Others), and Region 2024-2032“, The global business continuity management market size reached US$ 664.7 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2,077.7 Million by 2032, exhibiting a growth rate (CAGR) of 13.5% during 2024-2032.
Business continuity management is a thorough procedure that helps firms get ready for and lessen the impact of potential disruptions in their operations. These disruptions could be caused by various events, ranging from natural disasters like hurricanes and floods to human-made crises such as cyberattacks and interruptions in the supply chain. The main goal of business continuity management is to ensure that processes and systems continue to operate smoothly during and after a crisis This involves developing detailed plans, conducting risk assessments, and providing training programs for staff. Companies implement business continuity management strategies to protect their assets, build trust with stakeholders, and meet regulatory requirements. Currently, business continuity management is becoming increasingly popular among businesses in various industries in today's interconnected world, where a single disruption can have far-reaching effects on global operations.
Business Continuity Management Market Trends and Drivers:
The global market for business continuity management is largely propelled by the increasing occurrence of natural and man-made disasters, which has made organizations recognize the importance of having robust continuity plans in place. Additionally, there is a growing emphasis on adhering to regulations and standards, such as ISO 22301, which focuses specifically on business continuity. The rise in cyber threats targeting critical infrastructure and sensitive data has also heightened the need for comprehensive BCM solutions. Furthermore, advances in technology have made continuity planning more efficient and effective, making it accessible to companies of all sizes. As businesses become increasingly interconnected and interdependent, the importance of having a well-structured business continuity management system in place is further emphasized, contributing to the market's growth.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/business-continuity-management-market/requestsample
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.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Other Related Reports Published by IMARC Group :
- Anti-rheumatics Market
- Childcare Management Software Market
- Digital Camera Market
- Entrance Matting Market
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
IMARC Group
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