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BFSI Crisis Management Market

Published Oct 01, 2025
Length 139 Pages
SKU # IMRC20450942

Description

BFSI Crisis Management Market Report by Component (Software, Services), Deployment Type (On-premises, Cloud-based), Enterprises Size (Large Enterprises, Small and Medium-sized Enterprises), Application (Disaster Recovery and Business Continuity, Risk and Compliance Management, Crisis Communication, Incident Management and Response, and Others), End User (Banks, Insurance Companies, and Others), and Region 2025-2033

The global BFSI crisis management market size reached USD 18.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 64.8 Billion by 2033, exhibiting a growth rate (CAGR) of 15.1% during 2025-2033. The increasing regulatory pressures, rising cyber threats, growing need for robust risk management frameworks, the rising complexity of financial operations, and the increasing importance of maintaining customer trust are some of the major factors propelling the market growth.

BFSI Crisis Management Market Trends:

Rising Cyber Threats

The increasing sophistication and frequency of cyberattacks on financial institutions necessitate robust crisis management solutions to protect sensitive data and maintain operational integrity, thus influencing the market growth. According to industry reports, there were 2365 cyberattacks in 2023 with 343, 338,964 victims. 2023 witnessed a 72% increase in data breaches since 2021, which held the previous record. A data breach costs $4.45 million on average. E-mail is the most common vector for malware, with around 35% of malware delivered via e-mail in 2023. 94% of organizations have reported e-mail security incidents. Business e-mail compromises accounted for $ 2.7 billion in losses in 2022. This is further boosting the BFSI crisis management market statistics significantly.

Increasing Digital Transformation Initiatives

The ongoing digital transformation in the financial sector is leading to the adoption of advanced technologies including artificial intelligence and machine learning which is propelling the market growth. For instance, in May 2024, global nonprofit company Accion announced the launch of the Accion Digital Transformation Fund. The $152.5 million fund seeks to enable financial institutions to better meet the needs of small businesses that are currently excluded from the financial system by providing growth capital and strategic support for digital transformation. This is expected to fuel the BFSI crisis management market forecast over the coming years.

Growing strict regulatory requirements

The rising implementation of stringent compliance standards of regulatory bodies on financial institutions to safeguard consumer interest and maintain market stability is contributing to the growth of the market. These According to an article published by The Economic Times, S&P global ratings highlight the Reserve Bank of India's (RBI) commitment to enhancing governance and transparency in India's financial sector. The RBI’s recent measures aim to mitigate lenders' exuberance, improve compliance, and protect consumers, albeit at the expensive higher capital costs for institutions. Regulatory actions include curbing lending activities and strict penalties for breaches, signaling a departure from nominal penalties.

BFSI Crisis Management Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on component, deployment type, enterprises size, application and end user.

Breakup by Component:
  • Software
  • Services
The report has provided a detailed breakup and analysis of the market based on the component. This includes software and services.

The demand for software components in the market is driven by the need for real-time risk assessment, regulatory compliance, and enhanced cybersecurity. Advanced analytics, AI, and machine learning capabilities in software improve predictive risk management, streamline crisis response, and ensure data protection, fostering operational resilience and efficiency.

The rising need for expert guidance in implementing and managing crisis management systems, ensuring regulatory compliance, and providing ongoing support is driving the demand for service components in the market. Services like consultancy, training, and managed services help financial institutions enhance their crisis preparedness and response capabilities effectively.

Breakup by Deployment Type:
  • On-premises
  • Cloud-based
On-premises holds the largest share of the industry

A detailed breakup and analysis of the market based on the deployment type have also been provided in the report. This includes on-premises and cloud-based. According to the report, on-premises accounted for the largest market share.

The demand for on-premises components in the market is driven by concerns over data security and privacy, regulatory compliance, and control over sensitive information. Financial institutions prefer on-premises solutions to ensure robust protection against cyber threats and to meet stringent regulatory standards. Additionally, the need for high customization and seamless integration with existing IT infrastructure encourages the adoption of on-premises crisis management systems, providing greater control and reliability in managing critical operations.

Breakup by Enterprises Size:
  • Large Enterprises
  • Small and Medium-sized Enterprises
Large enterprises represent the leading market segment

The report has provided a detailed breakup and analysis of the market based on the enterprises size. This includes large enterprises and small and medium sized enterprises. According to the report, large enterprises represented the largest segment.

The demand for BFSI crisis management in large enterprises is driven by the complexity and scale of their operations, which require robust risk management frameworks. Large financial institutions face heightened regulatory scrutiny and significant cyber threats, necessitating comprehensive crisis management solutions. Additionally, the need to protect vast amounts of sensitive customer data, ensure business continuity, and maintain stakeholder trust propels these enterprises to invest in advanced crisis management systems to effectively mitigate risks and manage potential crises.

Breakup by Application:
  • Disaster Recovery and Business Continuity
  • Risk and Compliance Management
  • Crisis Communication
  • Incident Management and Response
  • Others
Incident management and response exhibits a clear dominance in the market

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes disaster recovery and business continuity, risk and compliance management, crisis communication, incident management and response, and others. According to the report, incident management and response accounted for the largest market share.

The demand for BFSI crisis management in incident management and response is driven by the increasing frequency and sophistication of cyberattacks, necessitating rapid and effective incident handling. Regulatory mandates require financial institutions to have robust response protocols. Additionally, the need to minimize financial and reputational damage, ensure operational continuity, and swiftly recover from disruptions drives investment in advanced incident management solutions. These systems enable real-time threat detection, coordinated response efforts, and efficient recovery processes, enhancing overall crisis resilience.

Breakup by End User:
  • Banks
  • Insurance Companies
  • Others
Banks dominates the market

The report has provided a detailed breakup and analysis of the market based on the end user. This includes banks, insurance companies, and others. According to the report, banks represented the largest segment.

The demand for BFSI crisis management in banks is driven by stringent regulatory compliance requirements and the increasing complexity of financial transactions. Heightened cyber threats and the need to protect sensitive customer data necessitate robust crisis management solutions. Additionally, the importance of maintaining operational continuity and minimizing financial and reputational risks drives banks to invest in comprehensive crisis management frameworks. Advanced technologies like AI and real-time monitoring are crucial for effective risk mitigation and ensuring trust and stability in banking operations.

Breakup by Region:
  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa
North America leads the market, accounting for the largest BFSI crisis management market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represents the largest regional market for BFSI crisis management.

The market for BFSI crisis management market across North America is driven by the increasing complexity of financial operations, on strict regulatory compliance requirements. The growing cyber threats necessitate advanced crisis management solutions to protect sensitive data are driving the market demand across the region. For instance, in May 2024, the U.S. Insider Risk Management Center of Excellence (U.S. InRM COE) announced its official launch. This nonprofit will focus on promoting private, public, and academic partnerships to foster knowledge sharing and the development of collaborative resources to equip and enable insider risk practitioners.

Competitive Landscape:
  • The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the BFSI crisis management industry include 4C Group AB, Beekeeper AG, Everbridge Inc., International Business Machines Corporation, Logicgate Inc., Metricstream Inc., NCC Group, Noggin Pty Ltd, Rockdove Solutions Inc., Sas Institute Inc., Software Aktiengesellschaft and Veoci Inc.
  • The competitive landscape of the BFSI crisis management market characterizes key players including MetricStream Inc., SAS Institute Inc., and IBM Corporations, leading with advanced risk management and analytics solutions. Emerging companies such as LogicGate and Resolver Inc. Also contribute innovation software for crisis detection and response. For instance, in September 2023, Analytics and AI leader SAS announced to expansion of its partnership with Microsoft to help banks better manage looming liquidity and interest rate risks as financial firms maneuver the continued fallout of recent bank failures. SAS Asset and Liability Management (ALM), powered by Kamakura Risk Manager on Microsoft Azure, supports multi-period, scenario-based, integrated simulation and valuation for risk management, capital allocation, and balance sheet optimization.
Key Questions Answered in This Report

1.What was the size of the global BFSI crisis management market in 2024?

2.What is the expected growth rate of the global BFSI crisis management market during 2025-2033?

3.What are the key factors driving the global BFSI crisis management market?

4.What has been the impact of COVID-19 on the global BFSI crisis management market?

5.What is the breakup of the global BFSI crisis management market based on the deployment type?

6.What is the breakup of the global BFSI crisis management market based on the enterprises size?

7.What is the breakup of the global BFSI crisis management market based on the application?

8.What is the breakup of the global BFSI crisis management market based on the end user?

9.What are the key regions in the global BFSI crisis management market?

10.Who are the key players/companies in the global BFSI crisis management market?

Table of Contents

139 Pages
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global BFSI Crisis Management Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Software
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Services
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Deployment Type
7.1 On-premises
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Cloud-based
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Enterprises Size
8.1 Large Enterprises
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Small and Medium-sized Enterprises
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Application
9.1 Disaster Recovery and Business Continuity
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Risk and Compliance Management
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Crisis Communication
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Incident Management and Response
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast
10 Market Breakup by End User
10.1 Banks
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Insurance Companies
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Others
10.3.1 Market Trends
10.3.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.2 Asia-Pacific
11.2.1 China
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Japan
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 India
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 South Korea
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Australia
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.2.6 Indonesia
11.2.6.1 Market Trends
11.2.6.2 Market Forecast
11.2.7 Others
11.2.7.1 Market Trends
11.2.7.2 Market Forecast
11.3 Europe
11.3.1 Germany
11.3.1.1 Market Trends
11.3.1.2 Market Forecast
11.3.2 France
11.3.2.1 Market Trends
11.3.2.2 Market Forecast
11.3.3 United Kingdom
11.3.3.1 Market Trends
11.3.3.2 Market Forecast
11.3.4 Italy
11.3.4.1 Market Trends
11.3.4.2 Market Forecast
11.3.5 Spain
11.3.5.1 Market Trends
11.3.5.2 Market Forecast
11.3.6 Russia
11.3.6.1 Market Trends
11.3.6.2 Market Forecast
11.3.7 Others
11.3.7.1 Market Trends
11.3.7.2 Market Forecast
11.4 Latin America
11.4.1 Brazil
11.4.1.1 Market Trends
11.4.1.2 Market Forecast
11.4.2 Mexico
11.4.2.1 Market Trends
11.4.2.2 Market Forecast
11.4.3 Others
11.4.3.1 Market Trends
11.4.3.2 Market Forecast
11.5 Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Breakup by Country
11.5.3 Market Forecast
12 SWOT Analysis
12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats
13 Value Chain Analysis
14 Porters Five Forces Analysis
14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 4C Group AB
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.2 Beekeeper AG
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.3 Everbridge Inc.
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.3.3 Financials
16.3.4 International Business Machines Corporation
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.4.3 Financials
16.3.4.4 SWOT Analysis
16.3.5 Logicgate Inc.
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.6 Metricstream Inc.
16.3.6.1 Company Overview
16.3.6.2 Product Portfolio
16.3.7 NCC Group
16.3.7.1 Company Overview
16.3.7.2 Product Portfolio
16.3.7.3 Financials
16.3.7.4 SWOT Analysis
16.3.8 Noggin Pty Ltd
16.3.8.1 Company Overview
16.3.8.2 Product Portfolio
16.3.9 Rockdove Solutions Inc.
16.3.9.1 Company Overview
16.3.9.2 Product Portfolio
16.3.10 Sas Institute Inc.
16.3.10.1 Company Overview
16.3.10.2 Product Portfolio
16.3.10.3 SWOT Analysis
16.3.11 Software Aktiengesellschaft
16.3.11.1 Company Overview
16.3.11.2 Product Portfolio
16.3.11.3 Financials
16.3.12 Veoci Inc.
16.3.12.1 Company Overview
16.3.12.2 Product Portfolio
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