According to the Market Statsville Group (MSG), the global crisis management services market size is expected to grow from USD 81,062.11 million in 2022 to USD 113,720.06 million by 2033, at a CAGR of 5.9% from 2023 to 2033.

The rise in economic loss due to natural disasters such as hurricanes, earthquakes, and major wildfires were recorded. This will drive the market of crisis management services in all around the world for the forecasting period. On the other hand, huge capital investment for SMES will restrict the market for the upcoming period. Moreover, the increase in terrorist attacks in all around the world will create a new opportunity for the new and existing player to capture the market for the forecast period.

Definition of the Global Crisis Management Services Market

The process of recognizing a threat to an organization and its stakeholders in order to respond effectively to the threat is known as crisis management. Modern organizations attempt to identify potential crises before they occur in order to devise plans for coping with them in the event that they occur because global events are unpredictable. Three elements are common to a crisis is a threat to the organization, the element of surprise, and a short decision time. As crises become more frequent in the recent period, organizations need a solid crisis management plan to protect their assets, finances, and brand. Several market players offer professional and proven crisis management services that help to anticipate, react to, and avoid potential crises for other organizations.

The crisis management services include business continuity policies, methods, and tools that help leaders prepare, coordinate, and respond to major disruptions in order to maintain critical business operations. This service immerses participants in a simulated crisis scenario to help and evaluate an organization’s response effectiveness and preparedness. The key market players provide experienced crisis leaders, combined with operations, technology, finance, and regulatory specialists, ready to deploy within hours of a crisis to support a client’s crisis command center. Thus, crisis management services have tremendous growth opportunity in every type of business including small, medium-sized, large business, government, and others.

Crisis includes any issue, problem or disruption that triggers negative impact via stakeholder reactions that can further impact the organization’s reputation, business, and financial strength. Crises involves serious disruptions to operations, situations threatening or doing harm to people and property, labor issues, product recalls, lawsuits, social media attacks, highly negative media coverage or allegations of wrongdoing against employees or leaders.

COVID-19 Impact on the Global Crisis Management Services Market

The crisis management services market has witnessed significant growth in past few years; also, during the outbreak of the COVID-19 pandemic, the market is projected to witness an increase in 2020. This is attributed to implementation various services like guidance, consultancy, and others where all participating firms report using operation strategies (close down or reduce operation hours), HR strategies (exible HR policy), nancial strategies (cost cut), and network strategies (customer relation). COVID-19 created immense social and economic problems at all levels, including social phobia, unemployment, supply chain disruption, stock market crashes, economic lockdown, and de-globalization. Thereby, augmenting the demand for crisis management services market across the globe.

Global Crisis Management Services Market Dynamics

Drivers: Rise in Economic loss due to natural disasters

Although natural disasters have occurred for ages, their impact has recently been exacerbated. In 2017, several incidents such as earthquakes, hurricanes and major wildfires were witnesses. According to Swiss Re Group, the world economy was considerably impacted by these disasters, with a loss of $306 billion in 2017 and $188 billion in 2016. Furthermore, according to National Geographic, the 2017 Hurricane Season was the costliest season in US history, costing $200 billion. Thus, increase in incidence of such disasters and rise in economic loss has enforced governments of various countries to implement proper crisis management services.

Restraints: Huge capital investment for SMES

People who belong to SMES category faces problem of understanding the services which results in giving a huge capital investment. They don’t earn enough revenue to afford such services. SMEs are less capable in dealing with crisis events as compared to large firms. Hence, they are quite capable to proactively deal with limited resources rather than preferring this high capital investment for such services.

Opportunities: Increase in Terrorist Attacks

The rising number of terrorist attacks is driving the demand of crisis management services market. Furthermore, the unlawful use of intimidation and violence, particularly against people, in the pursuit of political goals is prohibited in various countries which directly or indirectly every individual and every type of organization. This result in increase the demand of crisis management services for various small and large firms as well as government and other institute. As per ourworldindata.org, the terrorism tends to be very geographically focused 94% of deaths in 2017 occurred in the Middle East, Africa or South Asia. Hence, increase in number of terrorist attacks driven the demand of crisis management services market.

Scope of the Global Crisis Management Services Market

The study categorizes the crisis management services market based on type and application area at the regional and global levels.

By Type Outlook (Sales, USD Billion, 2019-2033)

• Anticipating Crisis Management Services
• Mitigating Crisis Management Services
• Real-time Crisis Management Services

By Application Outlook (Sales, USD Billion, 2019-2033)

• Small Enterprises
• Medium-sized Enterprises
• Large Enterprises
• Government
• Others

By Region Outlook (Sales, USD Billion, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Anticipating Crisis Management Services segment accounts for the largest market share by type

Based on type, the market is split into anticipating crisis management services, mitigating crisis management services and real-time crisis management services. Among these, the anticipating crisis management services segment held the largest market share in 2022. Many organizations will need anticipating crisis management services, either to retain greater control or due to regulatory/compliance directives.

North America to account for the highest CAGR by Region

Based on the regions, the global crisis management services market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America is expected to witness the highest CAGR in 2021. It is due to the growing investment in cybersecurity technologies to safeguard key infrastructure from cyber-attacks Because of the increase in terrorist activities in this area, the market is expected to develop at a highest CAGR over the forecasting period.

Competitive Landscape - Global Crisis Management Services Market

The crisis management services market has significant competitors and extremely cutthroat in the sector are using strategies including collaboration, product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global crisis management services market are:

• FTI Consulting, Inc.
• Weber Shandwick, Inc.
• MSL
• Syneos Health
• Teneo
• Finn Partners
• Vector, Inc.
• W2O Group
• Avenir Global
• APCO Worldwide, LLC
• MC Group
• Daniel J. Edelman Holdings, Inc.

Recent Development

• In March 2021, FTI Consulting, Inc. had announced that it has entered into a agreement to acquire The Rhodes Group, one of the leading government consulting firm with offices in Pittsburgh and Houston.
• In November 2020, Finn Partners, one of the world’s fastest growing global marketing and communications agencies has been appointed by Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) as their integrated communications agency in the U.S. and Canada.

Key Issues Addressed

• What is the market size by various segmentation of the crisis management services by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the crisis management services market?
• What are the key opportunities and trends for manufacturers involved in the crisis management services supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of crisis management services in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.