The Global Business Continuity Management Market Size accounted for USD 510 Million in 2021 and is estimated to achieve a market size of USD 1,811 Million by 2030 growing at a CAGR of 15.5% from 2022 to 2030. With cutting-edge technology integration and rising reliance on digitization, the global business environment is rapidly changing and evolving, creating significant growth for the business continuity management market value. Furthermore, the growing adoption of cloud storage across small and large businesses globally is resulting in increased business risks for business operations and information, driving the business continuity management market growth.

Business Continuity Management Market Report Key Highlights

• Global business continuity management market revenue intended to gain USD 1,811 million by 2030 with a CAGR of 15.5% from 2022 to 2030
• Based on organization size, large enterprises segment accounted for more than 70% of total market share in 2021
• North America command more than 41% of the market share in 2021
• Asia-Pacific regional market will achieve a remarkable CAGR from 2022 to 2030
• Due to the pandemic, 100,000 small businesses in the United States will be forced to close by 2020
• According to the study, cybercrime will cause USD 6 trillion in damage by 2022
• Increasing technological integration and greater emphasis on digitization, fuels the market

Business continuity management can be described as an organization's advanced strategy and preparation to sustain business operations or rapidly resume operations following a natural disaster. It also entails identifying significant threats such as ignition, overflow, or information security. Business continuity plan advantages include the capacity to withstand disasters such as global pandemics, power outages, natural disasters, and cybersecurity, all of which are critical tasks in building a successful, long-term organization. Furthermore, it can be difficult to maintain a strong financial reputation and provide excellent customer service throughout a disruptive event. However, one key advantage of continuity planning is that it ensures that the agreement on service levels is followed in all circumstances. This is particularly necessary when attempting to sell clinical or food products.

Global Business Continuity Management Market Dynamics

Market Drivers

• The fast-changing corporate environment across the world
• Increasing operational risks in organizations
• An increasing number of organizations are utilizing business impact analysis
• Increasing technological integration and greater emphasis on digitization

Market Restraints

• Concerns and apprehensions about security
• Lack of knowledge and spending restraints for SMEs

Market Opportunities

• Technological advancements in organization and enterprise asset management (EAM)
• Increasing consumption from SMEs

Business Continuity Management Market Report Coverage

One of the key developments in the global business continuity management market has been the rapid acceptance of business impact analysis (BIA) between many small and medium enterprises (SMEs) and big corporations. Traders and investors provide end-users with customizable effect evaluation and risk recognition via BIA. A growing number of organizations are turning to BIA because it helps them identify critical activities and processes such as external and internal dependency chain systems and Return on investment. Furthermore, the continued growth of the robust dependency modeling and analysis phase that allows organizations to evaluate recovery time objectives goals relative to achievable items is encouraging the use of BIA around the world.

Rising operational risks in organizations are primarily driving the global expansion of the business continuity management market. Companies are currently confronted with a variety of operational risks as a result of rising economic uncertainty and strong government forfeitures and compliances. Organizations consider robust mitigating risk, real-time risk evaluation, and increased risk accountability from business and management lines. Furthermore, as financial companies develop their businesses, the need for process transparency and accountability as well as proactive risk mitigation, is driving up demand for business continuity management markets trend around the world.

Business Continuity Management Market Segmentation

The worldwide business continuity management market is split based on offering, organization size, industry, and geography.

Business Continuity Management Market By Offering

• Solutions
  • By crisis management
  • By audit management
  • By risk management
  • By governance, risk, and compliance (GRC)
  • Others (supplier management, and cybersecurity management)
• Services
  • By managed
  • By professional

In terms of the offering, the solution segment held the largest market share in 2021. This is due to the growing use of business continuity management solutions for crisis management, risk management, as well as audit management. Furthermore, the rapidly evolving business environment, as well as developing data recovery or threat management solutions, will be significant drivers for the worldwide business continuity management planning solution market over the next few years.

Even though, following the business continuity management market forecast, the services category is predicted to expand the fastest during the projected timeline. This is due to end-users growing demands for execution, advising, and training.

Business Continuity Management Market By Organization Size

• SME
• Large Enterprises

In terms of organization size, the large enterprise segment will lead the market in 2021. This is due to large enterprises' ability to make significant IT investments in order to implement and improve their business continuity strategy for improving business workflow and strategic planning. Furthermore, large enterprises typically have activities spread across the world and a significant amount of corporate information. As a result, they are obligated to include effective business continuity plans in order to keep operations running.

Business Continuity Management Market By Industry

• Manufacturing & Retail
• Energy & Utilities
• Telecom & IT
• BFSI
• Healthcare
• Government
• Transportation & Logistics
• Others

According to a business continuity management industry analysis, the IT and telecom segment is expected to grow rapidly in the market over the next few years. Business continuity is the most important practice that companies and organizations must follow in order to sustain, particularly when a disaster event occurs unexpectedly. Nowadays, almost every industry makes use of information technology and telecommunications solutions to operate and develop their businesses and compete in the twenty-first-century environment. The telecom industry's reliance is a very crucial component because all sectors in this integrated and worldwide business world depend on it. Even though troubling times as well as military conflicts affect all industries, the telecom sector suffers the most.

Business Continuity Management Market Regional Outlook