The global BFSI crisis management market size was US$ 11,236.5 million in 2021. The global BFSI crisis management market size is forecast to reach US$ 42,811.7 million by 2030, growing at a compound annual growth rate (CAGR) of 18.5% during the forecast period from 2022 to 2030.
Lending, payments, international money transfers, personal finance, equity financing, and insurance are just a few industries that use crisis management solutions. In the financial services business, the need for crisis management solutions has grown in order to defend an organization's reputation and handle threats to financial sustainability, personnel health, and overall public safety.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic has had a positive impact on the global BFSI crisis management market. As a result of the increased use and adoption of online and digitalized financial services. In addition, governments worldwide imposed a lockdown in order to prevent the spread of the virus. Thus, BFSI crisis management providers offered an advanced platform for organizing uncertain incidents, risks, and cyber security solutions for companies dealing with huge finances. This factor fueled the global market growth.
Regional Insights
North America garnered the largest share of the BFSI crisis management market in 2021 and is forecast to maintain its power during the forecast period. As a result of the rising awareness of crisis management solutions among banks & financial institutions and the increasing partnership of companies offering technologies with major banks & financial institutions in this region.
The Asia Pacific region is forecast to have substantial growth in the market during the forecast period. Many financial organizations, banks, and insurance companies are adopting crisis management software & services to expand business efficiency, reduce compliance risk disclosure, and grow the bureaucratic competence of institutions in the region.
Leading Companies
The leading prominent companies profiled in the global BFSI crisis management market are:
Scope of the Report
The global BFSI crisis management market segmentation focuses on Component, Deployment Mode, Enterprises Size, Application, End-Users, and Region.
Segmentation based on Component
Segmentation based on Deployment Mode
Segmentation based on Enterprises Size
Segmentation based on Application
Segmentation based on End-Users
Segmentation based on Region