SMEs Driving Demand for Business Continuity Management Solutions

The business continuity management market was valued at USD 693.6 million in 2023 and is projected to reach USD 2,086.6 million by 2030, growing at a 17.2% CAGR. Complex business processes are increasingly exposed to operational risks due to regulatory penalties, compliance requirements, and economic uncertainties. Additional threats arise from model, conduct, cybersecurity, and vendor-related risks.


Organizations are seeking effective risk mitigation, enhanced accountability, and real-time risk assessment across management and business lines. As financial service institutions expand, the demand for transparency and proactive risk mitigation continues to drive the global need for BCM solutions.

A key trend is the rising demand for BCM among small and medium-sized enterprises (SMEs). Over the past few years, many SMEs have adopted BCM solutions to support their growth and operational improvements. Major industry players are focusing on offering more flexible services for SMEs due to the increasing awareness of asset protection in these firms, especially in under-regulated sectors.

Download free report sample at: https://www.psmarketresearch.com/market-analysis/business-continuity-management-planning-solutions-market/report-sample

Key Insights:

  • North America dominated the market in 2023, contributing approximately 45% of the global share, driven by a large presence of businesses, key financial institutions, and the risk of operational disruptions due to natural disasters.

  • Over 60% of U.S. businesses are investing in enterprise continuity solutions, primarily due to the prevalence of commercial enterprises and IT firms, which heightens the overall security risks.

  • The Asia-Pacific (APAC) region will experience the fastest growth, with a projected CAGR of 17.6%. Factors driving this growth include rapid economic development in major countries, the rise of cloud technology, large enterprises, and increased IT spending in China and India.

  • The solutions segment led the market in 2023 with a 70% share and is expected to maintain this position, primarily due to its applications in crisis, audit, and risk management.

  • Large enterprises were the biggest contributors to the market in 2023, accounting for 65%, due to their significant IT investments aimed at improving business continuity.

  • SMEs are expected to grow at a higher CAGR of 17.4%, with increased focus on asset protection and reducing operational costs.

  • The transportation and logistics sector is projected to grow at the fastest rate of 17.8%, largely driven by rising supply chain threats.

  • The industry is fragmented, with new players focusing on innovative services and solutions to meet the demands of an increasingly discerning customer base.

About P&S Intelligence

P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.

Comments

Post a Comment

Popular posts from this blog

What Is a Data Center? How Does a Data Center Operate

Image
In simple words, a data center is a physical capability that establishments utilize to house their vital applications and information. A data center's structure is based on a network of computing and storing resources that allow the distribution of shared apps and data. The major components of a data center design comprise switches, routers, storage systems, firewalls, servers, and application-delivery controllers. The data center market is witnessing growth and is projected to reach USD 602.76 billion by 2030. What Defines a Modern Data Center? Contemporary data centers are more diverse than they were just a short period ago. Infrastructure has shifted from old-style on-premises physical servers to computer-generated networks that help apps and workloads across pools of bodily infrastructure and into a multi-cloud atmosphere. In this world, information exists and is linked through several data centers, the edge, and private and public clouds. The data center should be capable of
Read more

How Will Rapid Industrialization Drive Hydraulic Equipment Demand?

Image
The Government of India completed the construction of 2,734 projects under the Smart City Mission till 2021. The government is currently working on the construction of 100 smart cities, 6 new ports and 14 coastal economic zones (CEZs). Likewise, Infrastructure Australia (IA) approved the construction of 44 new infrastructure projects in February 2021. The rising construction activities, on account of the booming population and mounting investments being made in the construction sector, will propel the need for hydraulic equipment in the coming years. Additionally, the rapid industrialization in developing countries will drive the hydraulic equipment market growth during 2021–2030. According to P&S Intelligence, the market generated a revenue of $37 billion in 2020. For instance, the United Nations Industrial Development Organization (UNIDO) aims to offer institutional support to special economic zones (SEZs) and industrial and technology parks in Brazil. The UNIDO will help Brazil
Read more

Why Is OLED Material Consumption Highest in Asia-Pacific?

Image
The technology of TV displays has evolved significantly from the cathode ray tubes of the mid-20th century to the liquid crystal displays (LCDs) and light-emitting diodes (LEDs) of the first decade of the 21st century. With efforts on to make the displays even better, organic light-emitting diodes (OLEDs) have been invented, which are rapidly becoming popular in TVs, smartphones, laptops, tablets, and automotive displays. This is because of the several advantages OLED screens offer, including brighter pictures, larger viewing angles, ability to work in a wider temperature range, and lower power consumption. Moreover, OLEDs are so thin that they can be used for curved and folded screens, which are becoming rapidly popular, especially in wearable devices and other consumer electronics. Similarly, transparent displays, which are helping revolutionize advertising activities, have become possible due to OLEDs. P&S Intelligence cites these advantages and the constant research being put i
Read more