BFSI Crisis Management Market Size Worth USD 32.8 Billion, Globally, by 2028 at 17.5% CAGR – BFSI Crisis Management Industry Report by Vantage Market Research

WASHINGTON, July 18, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research's recent analysis of the Global BFSI Crisis Management Market finds that increased reliance on crisis management software & solutions among banks and financial institutions, provision of digitalized solutions such as decreasing business risks, fraud detection, and incident & compliance management, and the financial organizations & banks that are rapidly digitizing their operations & improved customers experience are expected to bolster the growth of the BFSI Crisis Management Market over the projected period. The Global Market revenue was valued at USD 12.5 Billion in 2021.

The Global BFSI Crisis Management Market size is forecasted to reach USD 32.8 Billion by 2028 and is expected to grow exhibit a Compound Annual Growth Rate (CAGR) of 17.5% during the forecast period; states Vantage Market Research, in a report, titled “BFSI Crisis Management Market Size, Share & Trends Analysis Report by Component (Software, Services), by Deployment Type (On-Premises, Cloud), by Enterprises Size (Large Enterprises, Small & Medium Enterprises (SMEs), by Application (Disaster Recovery & Business Continuity, Risk & Compliance Management, Crisis Communication, Incident Management & Response), by End-User (Banks, Insurance Companies, Other End-Users), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Key Insights & Findings from the Report:

• According to our primary respondents’ research, the BFSI Crisis Management market is predicted to grow at a CAGR of roughly 17.5% during the forecast period.
• The BFSI Crisis Management market was estimated to be worth roughly USD 12.5 Billion in 2021 and is expected to reach USD 32.8 Billion by 2028; based on primary research.
• On the basis of region, North America is projected to dominate the worldwide BFSI Crisis Management market.
  

Market Dynamics:

Drivers:

Rapid Digitization of Financial Organizations and Banks

Financial institutions and banks are increasingly adopting digital platforms and networked solutions to operate their companies in the market. In addition, market players are providing crisis management solutions to track and minimize business risks, detect fraud, and improve incident & compliance management. Furthermore, crisis management offers automated solutions to boost customer satisfaction and efficiency. As a result of the boom in digitalization, the BFSI sector has been quick to adopt advanced crisis management solutions, and these factors contribute to the growth of the Global BFSI Crisis Management Market. However, for firms involved in finance, crisis management solution providers manage a vast number of data, which complicates network administration globally. Furthermore, since different organizations in the market use multiple suppliers to supply their services, financial companies & banks avoid releasing consumer data to any third party to conduct their business. As a result, the tremendous flow of data and information among financing organizations makes it difficult to manage an extensive corporate network. Therefore, it is responsible for augmenting the growth of the BFSI Crisis Management Market in the coming years.

Improved Customer Experience

In terms of automated fraud detection, quick payment systems, and enhanced accessibility to finance industries, crisis management provides solutions that improve the client experience. In addition, crisis management is a relatively new industry rapidly expanding, owing to its unique solutions to financial institutions & banks. Furthermore, the automated crisis management system improves the user experience by providing faster services and saving financial institutions time & effort. As a result, improvements in the overall customer experience will likely provide future growth possibilities for the Global BFSI Crisis Management Market in the next five years.

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Segmentation of the Global BFSI Crisis Management Market:

• Component
  • Software
  • Services
• Deployment Type
  • On-Premises
  • Cloud
• Enterprises Size
  • Large Enterprises
  • Small & Medium Enterprises (SMEs)
• Application
  • Disaster Recovery & Business Continuity
  • Risk & Compliance Management
  • Crisis Communication
  • Incident Management & Response
  • Other Applications
• End-User
  • Banks
  • Insurance Companies
  • Other End-Users
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
    

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/bfsi-crisis-management-market-1738

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the financing industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long-Term Dynamics
5. Short-Term Dynamics

The Report on BFSI Crisis Management Market Highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates, and Forecast
• Company Profiles
• Global and Regional Dynamics
  

Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on "BFSI Crisis Management Market Size, Share & Trends Analysis Report by Component (Software, Services), by Deployment Type (On-Premises, Cloud), by Enterprises Size (Large Enterprises, Small & Medium Enterprises (SMEs)), by Application (Disaster Recovery & Business Continuity, Risk & Compliance Management, Crisis Communication, Incident Management & Response), by End-User (Banks, Insurance Companies, Other End-Users), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

Regional Analysis:

North America Anticipated Potential Market Growth

North America is expected to dominate the growth of BFSI Crisis Management Market in 2021. Increasing awareness about financial technology and a rapid increase in crisis management services are expected to bolster the growth of this region’s BFSI Crisis Management Market. In addition, the large presence of market players is likely to propel the growth of this region’s BFSI Crisis Management Market. For instance, Blameless, a crisis management solution provider, elevated USD 30 million in a Series B investment, leading to total funding of USD 50 million.

List of Prominent Players in the BFSI Crisis Management Market:

• 4C Strategies
• Everbridge
• IBM
• CURA Software Solutions
• Konexus
• Logic Gate Inc.
• NCC Group
• Noggin
• MetricStream Inc.
• SAS Institute Inc.

Recent Developments:

November 2020: Metric Stream, Inc. has released the latest edition of its M7 Integrated Risk Platform, which powers its case and incident management software.

October 2020: NCC GROUP has developed a remediate service to help clients improve their security posture. The remediate service provides rapid remedial action as well as long-term strategic support to help organizations better their security posture and lower their cyber risk.

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?
• Which are the top five players of the BFSI Crisis Management Market?
• How will the BFSI Crisis Management Market change in the upcoming six years?
• Which application and product will take a lion’s share of the BFSI Crisis Management Market?
• What is the BFSI Crisis Management market drivers and restrictions?
• What will be the CAGR and size of the BFSI Crisis Management Market throughout the forecast period? 

This market titled “BFSI Crisis Management Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

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