BFSI Crisis Management Market Report by Component (Software, Services), Deployment Type (On-premises, Cloud-based), Enterprises Size (Large Enterprises, Small and Medium-sized Enterprises), Application (Disaster Recovery and Business Continuity, Risk and Compliance Management, Crisis Communication, Incident Management and Response, and Others), End User (Banks, Insurance Companies, and Others), and Region 2024-2032
The global BFSI crisis management market size reached US$ 15.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 61.9 Billion by 2032, exhibiting a growth rate (CAGR) of 15.8% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 15.8 Billion
Market Forecast in 2032
US$ 61.9 Billion
Market Growth Rate (2024-2032)
15.8%
Banking, financial services, and insurance (BFSI) crisis management represents one of the latest advancements in financial technology. It relies on artificial intelligence (AI), cloud computing, machine learning (ML), and big data to deal with different incidents and potential emergency situations in the banking industry. Besides this, it also assists in protecting the reliability and credibility of the financial institution network. As the BFSI crisis management solution providers are improving financial services, risk mitigation and fraud detection, and cyber security, its demand is escalating around the world.
BFSI Crisis Management Market Trends:
At present, there is a rise in the need to protect an organization’s reputation and manage threats related to financial viability, employee health, and overall public safety. This represents one of the key factors catalyzing the demand for crisis management solutions worldwide. These solutions find a wide range of applications in numerous business areas, such as lending, international money transfers, personal finance, equity financing, and insurance. In addition, there is a considerable increase in the volume of data produced by large enterprises. This, in confluence with the rapid adoption of digitalized platforms and network solutions by financial institutions and banks to operate their businesses, is creating a favorable market outlook. Furthermore, developing countries across the globe are offering lucrative growth opportunities for crisis management solution providers to expand their product portfolios. This, along with increasing focusing on making improvements in customer experience while availing financial products and services, is contributing to the growth of the market. Other major factors, including the growing awareness about financial technology, and an extensive expansion of the BFSI industry, are projected to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global BFSI crisis management market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on component, deployment type, enterprises size, application and end user.
Breakup by Component:
Software
Services
Breakup by Deployment Type:
On-premises
Cloud-based
Breakup by Enterprises Size:
Large Enterprises
Small and Medium-sized Enterprises
Breakup by Application:
Disaster Recovery and Business Continuity
Risk and Compliance Management
Crisis Communication
Incident Management and Response
Others
Breakup by End User:
Banks
Insurance Companies
Others
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:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 4C Group AB, Beekeeper AG, Everbridge Inc., International Business Machines Corporation, Logicgate Inc., Metricstream Inc., NCC Group, Noggin Pty Ltd, Rockdove Solutions Inc., Sas Institute Inc., Software Aktiengesellschaft and Veoci Inc.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Component, Deployment Type, Enterprises Size, Application, End User, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
4C Group AB, Beekeeper AG, Everbridge Inc., International Business Machines Corporation, Logicgate Inc., Metricstream Inc., NCC Group, Noggin Pty Ltd, Rockdove Solutions Inc., Sas Institute Inc., Software Aktiengesellschaft and Veoci Inc.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global BFSI crisis management market was valued at US$ 15.8 Billion in 2023.
We expect the global BFSI crisis management market to exhibit a CAGR of 15.8% during 2024-2032.
The growing advancements in the financial technology to aid in protecting the reliability and
credibility of financial institution network are primarily driving the global BFSI crisis management
market.
The sudden outbreak of the COVID-19 pandemic has led to the escalating demand for BFSI crisis management solutions to detect financial fraudulent activities and provide cyber security on account of the rising deployment of online payment solutions.
Based on the deployment type, the global BFSI crisis management market has been divided into on- premises and cloud-based. Currently, on-premises deployment exhibits a clear dominance in the market.
Based on the enterprises size, the global BFSI crisis management market can be categorized into large enterprises and small and medium-sized enterprises, where large enterprises hold the majority of the total market share.
Based on the application, the global BFSI crisis management market has been segmented into
disaster recovery and business continuity, risk and compliance management, crisis communication, incident management and response, and others. Among these, the incident management and response segment represents the largest market share.
Based on the end user, the global BFSI crisis management market can be bifurcated into banks, insurance companies, and others. Currently, banks account for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global BFSI crisis management market include 4C Group AB, Beekeeper AG, Everbridge Inc., International Business Machines Corporation, Logicgate Inc., Metricstream Inc., NCC Group, Noggin Pty Ltd, Rockdove Solutions Inc., Sas Institute Inc., Software Aktiengesellschaft, and Veoci Inc.
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