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

• A growth in dependency on crisis management software & solutions among banks and financial institutions is a key driving factor of the global BFSI crisis management market.
• The rising adoption of crisis management solutions and the surge in the understanding of financial technology fuel the global market growth.
• Data rip-off & cyber safety concerns and complicated management of networks may slow down the overall market growth.
• Advancement in customer experience toward availing financial products & services is forecast to provide lucrative opportunities for the global market during the forecast period.

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:

• NCC Group
• Noggin
• LogicGate, Inc.
• MetricStream Inc.
• 4C Strategies
• IBM
• CURA Software Solutions
• Everbridge
• Konexus
• SAS Institute Inc
• Other Prominent Players

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

• Software
• Services

Segmentation based on Deployment Mode

• On-premises
• Cloud

Segmentation based on Enterprises Size

• Large Enterprises
• Small & Medium Enterprises (SMEs)

Segmentation based on Application

• Disaster Recovery & Business Continuity
• Risk & Compliance Management
• Crisis Communication
• Incident Management & Response
• Others

Segmentation based on End-Users

• Banks
• Insurance Companies
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America