PUBLISHER: The Business Research Company | PRODUCT CODE: 1574687
PUBLISHER: The Business Research Company | PRODUCT CODE: 1574687
Crisis management services involve comprehensive strategies designed to handle and navigate emergencies or unforeseen disruptions. These services include assessing risks to identify potential threats, creating crisis plans with detailed procedures, and implementing immediate response actions to minimize impacts. They also typically involve training and simulation exercises to prepare teams for real-world situations, ensuring resilience and preparedness.
The main types of crisis management services are anticipatory, mitigative, and real-time. Anticipatory crisis management services focus on identifying potential threats and vulnerabilities before they occur, including risk assessments, scenario planning, and developing contingency plans to address possible crises. These services can be deployed on-premise or via cloud, and they cater to various applications including small enterprises, medium-sized enterprises, large enterprises, governments, and other entities.
The crisis management services market research report is one of a series of new reports from the business research company that provides crisis management services market statistics, including crisis management services industry global market size, regional shares, competitors with an crisis management services market share, detailed crisis management services market segments, market trends and opportunities, and any further data you may need to thrive in the crisis management services industry. This crisis management services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The crisis management services market size has grown strongly in recent years. It will grow from $87.07 billion in 2023 to $92.02 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth observed during the historic period can be attributed to the increasing frequency of natural disasters, a rise in global terrorism and security threats, heightened corporate governance and compliance requirements, greater awareness of business continuity planning, a surge in cyber-attacks and data breaches, and the expansion of regulatory frameworks and mandates.
The crisis management services market size is expected to see strong growth in the next few years. It will grow to $115.36 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The anticipated growth during the forecast period can be attributed to the increasing adoption of advanced technology, a greater emphasis on cybersecurity measures, a focus on comprehensive business continuity planning, growing regulatory compliance demands, heightened investment in risk assessment and mitigation solutions, and the integration of social media monitoring into crisis response. Major trends expected to drive this growth include the adoption of new technologies, the development of remote and hybrid solutions, a focus on resilience and adaptability, the expansion of AI-driven crisis management tools, and the continued integration of social media monitoring for crisis management.
The rising frequency of natural disasters is expected to drive growth in the crisis management service market. Natural disasters are severe events that result in widespread destruction, loss of life, and significant disruptions to daily life. Human activities, such as deforestation, land-use changes, and altering natural ecosystems, can increase vulnerability to these events. Crisis management services play a crucial role by facilitating communication, streamlining emergency operations, and enhancing decision-making, which helps in implementing effective response strategies and reducing the impact on affected areas. For example, a January 2024 report from the National Centers for Environmental Information (NCEI), a US-based government agency, revealed that there were 28 weather and climate disaster events in the United States, each causing over $1 billion in losses. These events included one drought, four floods, 19 severe storms, two tropical cyclones, one wildfire, and one winter storm. The growing number of natural disasters is thus driving the demand for crisis management services.
Key players in the crisis management services market are increasingly integrating AI and machine learning technologies to enhance real-time disaster response and risk mitigation through precise data analysis. AI-powered disaster management technology helps improve emergency response and decision-making by providing real-time, data-driven insights. For instance, in August 2023, Spectee, Inc., a Japan-based media software company, introduced an AI-powered disaster management tool. This tool aims to enhance disaster response by analyzing real-time data from various sources, such as social media, climate data, and camera feeds. It improves crisis management by filtering out misinformation through human and AI verification, ensuring that emergency services receive accurate and timely information. The pilot program in the Philippines represents a significant advancement in deploying this technology to mitigate disaster risks and enhance public safety, in collaboration with local government agencies and emergency services.
In July 2024, Intelvio, a US-based healthcare education company, acquired the Professional Crisis Management Association (PCMA) for an undisclosed amount. This acquisition enables Intelvio to address the increasing demand for comprehensive crisis management training, driven by a greater emphasis on academic success, improved safety measures, reduced crisis behaviors, and related regulatory requirements. PCMA is a US-based company specializing in crisis management services.
Major companies operating in the crisis management services market are Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited (PwC), Ernst & Young Global Limited (EY), KPMG International Cooperative, Accenture plc, WPP plc, Publicis Groupe SA, Omnicom Group Inc, Boston Consulting Group Inc, McKinsey & Company Inc, Willis Towers Watson Public Limited Company, Grant Thornton International Ltd, Syneos Health Inc, Bain & Company Inc, FTI Consulting Inc, Navigators International Inc, ICF International Inc, Vector Inc, BCW LLC (Burson Cohn & Wolfe), Huron Consulting Group Inc, RES PUBLICA Consulting Group Inc, Weber Shandwick Inc, Golin LLC, MSLGROUP, Finn Partners Inc, WE Communications, Teneo Holdings LLC, APCO Worldwide LLC, Daniel J Edelman Holdings Inc, Ruder Finn Inc
North America was the largest region in the crisis management services market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the crisis management services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the crisis management services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The crisis management services market includes revenues earned by risk assessment, emergency response planning, communication strategies, and recovery management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Crisis Management Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on crisis management services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for crisis management services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The crisis management services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.