BFSI Crisis Management Market worth USD 42,811.4 million by 2030

The Market Statsville Group (MSG) publishes the new report on the "BFSI Crisis Management Market by Component (Software and Services), by Deployment Mode (On-premises and Cloud), by Enterprises Size (Large Enterprises and Small & Medium Enterprises), by Application (Disaster Recovery & Business Continuity, Risk & Compliance Management, Crisis Communication, Incident Management & Response, and Others), by End-Users (Banks, Insurance Companies, and Others), by Region – Global Share and Forecast to 2030".

The global BFSI crisis management market size was USD 11,236.2 million in 2021 and is estimated to reach USD 42,811.4 million by 2030, registering a CAGR of 18.2% from 2022 to 2030. The key factors impacting the growth of the global BFSI crisis management market are rise in awareness of financial technologies and rapid digitalization by financial institutions. Moreover, data theft & cyber security concern and complex network management are expected to affect the market growth. In addition, improved customer experiences in terms of advanced crisis management solutions is one of the major factors influencing the growth. However, each of these factors is anticipated to impact the global market during the forecast period significantly.

Global BFSI Crisis Management Market Segmentation

The overall BFSI crisis management market has been segmented into component, deployment mode, enterprises size, application, end-users, and region.

• By Component (Software and Services)
• By Deployment Mode (On-premises and Cloud)
• By Enterprises Size (Large Enterprises and Small & Medium Enterprises)
• By Application (Disaster Recovery & Business Continuity, Risk & Compliance Management, Crisis Communication, Incident Management & Response, and Others)
• By End-Users (Banks, Insurance Companies, and Others)
• By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

On-premise, by deployment mode, is estimated to hold the largest market share during the forecast period

On the basis of the deployment model, the BFSI crisis management market is bifurcated into on-premises and cloud. In 2021, on-premise had the largest market share of 65.3% in the global BFSI crisis management market. On-premise deployment model enables the installation of the software and permits applications to run on systems present in the organization's premises. On-premise is widely accepted among banking and financial services & insurance (BFSI), as it helps to keep highly sensitive data on servers protected behind the corporate firewall for financial institutions and banks. This, as a result, boosts the demand for crisis management solutions in the market.

Owing to the surge in need to secure critical data from cyber-threats and monitor the invasion of data within the organization, the implementation of crisis management solutions continues to rise in the market. Furthermore, it enables organizations to own accountability for expensive software upgrades, facilitates better maintenance of servers, and permits continuous system security checks, which drive the growth of the on-premise segment.

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North America accounts for the largest market share in BFSI crisis management market 2021

Region-wise segmentation of the BFSI crisis management market is as follows North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 36.5% in the global BFSI crisis management market and was anticipated to maintain its dominance throughout the forecast period. North America includes the U.S. and Canada. The rise in business contingencies due to the adoption of the online mode business model and the increase in the work-from-home culture contribute to the growth of the BFSI crisis management market in North America.

In the U.S., as companies in the BFSI sector use artificial intelligence, machine learning, and advanced analytics, most banks and financial institutions adopt crisis management services. Moreover, increase in awareness of crisis management solutions among banks & financial institutions and surge in partnership of companies providing technologies with major banks & financial institutions in this region notably contribute toward the market growth.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the BFSI crisis management market. It also consists of the profiles of leading companies such as NCC Group, MetricStream Inc., 4C Strategies, IBM, Noggin, LogicGate, Inc., Everbridge, Konexus, CURA Software Solutions, and SAS Institute Inc. These market players have focused on acquisitions and expansion to gain a larger market share in the BFSI crisis management market.

Browse complete report: https://www.marketstatsville.com/bfsi-crisis-management-market

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