Business continuity management planning solution is an established component of risk management in many enterprises, and a common practice within business continuity management is to conduct business impact analysis periodically or every time a significant change occurs within the enterprise. Many changes are anticipated and planned while other changes, such as fundamental shifts in processes, business practices or supporting technologies (e.g., new market demands, new legislation or regulation, using social networks and mobile devices for business purposes) may not be anticipated or planned in the business continuity management planning solution.
All of these changes require the different parties involved in business continuity management planning solution to assess the scope and nature of issues that may arise, and work with business owners to identify necessary changes to existing continuity and recovery plans to reflect the new environment. It is important to note that some changes, especially in technology, can represent opportunities to improve business continuity management planning solution automation and recovery times and optimize the costs associated with continuity activities.
The global business continuity management planning solution market is being continuously studied with a deep understanding of the macro and forecast factors to provide a detailed analysis to clients. Data recovery and risk management solutions drive the global demand for business continuity management planning solutions over the coming period.
The global business continuity management planning solution market is expected to grow at a CAGR of ~ 13%, and is estimated to reach a value of ~ US$ 1.6 Bn by the end of the forecast period. Moreover, in the global study of business continuity management planning solutions, PMR has considered only the new sales of business continuity management planning solution across the historical and forecast period.
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Improved Resilience among Vital Factors Driving the Global Market
Cloud computing and virtualization of servers help to reduce planned disruption by enabling applications to be moved to temporary environments during firmware upgrades, critical patching, system maintenance, and disaster recovery testing. Due to the capacity to take settings snapshots of mission-critical virtual machines and restore them using comparable hardware equipment within the same data center or across geographic fields, unplanned outages can also be minimized. Some of the cloud computing services having the greatest impact on business continuity management planning solution are Disaster Recovery or Replication as a Service (DRaaS), Backup as a Service (BaaS), Storage as a Service (STaaS), and Software as a Service (SaaS). The main advantage of these services in the business continuity management planning solution market is that they can help enterprises improve resiliency while maintaining the initial investment cost and keeping down the operating cost.
Software/Platform Segment Projected to Witness Significant Growth
The software/platform segment is anticipated to gain noteworthy traction in the global business continuity management planning solution market owing to the significant growth to ensure compliance with industry regulations across the world. Moreover, the rapidly changing business environment and emerging data recovery and risk management solutions are also vital drivers for the global business continuity management planning solution market over the coming decades. However, the services segment is projected to grow with a CAGR of 14.0% owing to the rising focus on the implementation and integration service of the business continuity management planning solution. As there is misunderstanding of the data recovery by business continuity management planning solution practitioners in business continuity management planning solution, leading providers are focusing on consulting & training services for business continuity management planning solution.
Risk Management Segment to Gain Significant Traction
In the global business continuity management planning solution market, the risk management segment is expected to grow with a healthy growth rate over the forecast period due to noteworthy demand for business continuity management planning solutions. However, the business continuity and disaster recovery segment is also expected to grow with a CAGR of ~ 13% owing to the increasing adoption of data recovery and risk management solutions. Moreover, the governance risk and compliance (GRC) segment is estimated to grow with a relatively low share throughout the forecast period.
Europe and East Asia Display Significant Growth Potential
In the global business continuity management planning solution market, East Asia and Europe regions are estimated to witness a healthy growth rate over the forecast period due to rapid pace of business and technology changes across the world in the coming years. Moreover, East Asia is followed by Europe in the global business continuity management planning solution market owing to the significant growth in the adoption of data recovery and risk management solutions, coupled with industry regulations, which is, in turn, projected to boost the demand as well as sales of business continuity management planning solutions in these regions in the coming decades.
Business Continuity Management Planning Solution Market Structure
The global business continuity management planning solution market is consolidated due to the presence of limited companies in the market. Moreover, Tier 1 players are generating ~ US$ 200 Mn through the sales of business continuity management planning solutions across the globe. According to a global in-depth study, Dell EMC, and Continuity Logic are projected to account for a prominent share in the global business continuity management planning solution market.
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Key Questions Answered in the Business Continuity Management Planning Solution Market Report
- How is the business continuity management planning solution market expected to grow over the projected period?
- What direction is the business continuity management planning solution market expected to take in terms of value during the forecast period?
- What is the expected impact of macroeconomic factors on the business continuity management planning solution market in the future?
- What are the key factors driving the business continuity management planning solution market?
- What are the significant opportunities and improvement areas for the business continuity management planning solution providers of business continuity management planning solution?
- What are the key developments and trends taking place in the business continuity management planning solution market?
- Which emerging countries are expected to create significant growth opportunities in the business continuity management planning solution market?