Selbyville, Delaware, April 04, 2023 (GLOBE NEWSWIRE) —
The crisis management market valuation is anticipated to reach USD 220 billion by 2032, as reported in a research study by Global Market Insights Inc.
Growing instances of cyberattacks have stimulated the demand for crisis management products and services. Many organizations these days are using crisis management tools that can assist them in preventing, detecting, and responding to cyber threats to reduce their exposure to risk. Advanced threat detection and analysis tools, incident response planning and management software, and other security technologies are a part of these technologies. Furthermore, efforts to upgrade infrastructure for improving safety in several industry will stimulate the demand for these solutions. Infrastructure advancement can play a significant role in preventing accidents and crisis in the manufacturing sector.
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The crisis management market sizefrom the service segment is predicted to witness over 5% CAGR between 2023 and 2032. The demand for crisis management services is rising across a variety of industries, including healthcare, education, and transportation, as public safety concerns grow. The Internet of Things (IoT), artificial intelligence (AI), and cloud computing, enable real-time monitoring, automated alerts, and data analytics.
The crisis management market from disaster recovery & business continuity segment accounted for 25% revenue share in 2022. The need for businesses to prepare for and recover from potential disasters, such as natural disasters, cyberattacks, and power outages, is influencing the adoption of these solutions. As cyberattacks become more frequent, companies are realizing how crucial it is to have a disaster recovery and business continuity solution in place to lessen the effects of such attacks.
Crisis management market from the healthcare and life sciences segment will expand at more than 5% CAGR till 2032. The demand for efficient crisis management methods and solutions to address diverse emergencies and critical circumstances is driving the expansion of the sector. The significance of crisis management in healthcare and life science has also been highlighted by the COVID-19 pandemic. Infectious disease surveillance systems, emergency response plans, and telemedicine technologies have all seen greater usage due to the requirement for pandemic response and management.
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Asia Pacific crisis management market is estimated to record more than 20% share by 2032, owing the increasing financial technology knowledge and the fast spread of crisis management services. The region has the presence of some of the leading companies that are working on launching new products and services. For instance, in February 2023, Esri launches its newest platform called ArcGIS Reality. This digital twin program creates thorough 3D digital models of various scales, giving an immersive depiction of the real world, by fusing GIS technology with reality mapping data.
Prominent participants operating across the crisis management market include Eaton, Johnson Controls, Esri, Haystax Technology (Fishtech LLC), IBM Corporation, Honeywell International Inc, and Hexagon AB. Companies are working on the development of new strategies to expand business reach. For instance, in June 2022, 4 C Strategies opened a new office in Australia, expanding its global reach. By utilizing the company’s long-standing relationship with the Australian Armed Services, this expansion intends to serve the needs of current clients while also promoting growth in the region. With this new location, 4 C Strategies is better equipped to look after its clients in Australia and take advantage of the rising demand for crisis management services there.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Crisis management industry 360° synopsis, 2018-2032
2.2 Regional trends
2.3 Component trends
2.4 End-use trends
Chapter 3 Crisis Management Market Industry Insights
3.1 Impact of COVID-19
3.1.1 North America
3.1.2 Europe
3.1.3 Asia Pacific
3.1.4 Latin America
3.1.5 MEA
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem
3.3.1 Raw material provider
3.3.2 Hardware provider
3.3.3 Software provider
3.3.4 Service provider
3.3.5 Distributor
3.3.6 End-user
3.3.7 Profit margin analysis
3.3.8 Vendor Matrix
3.4 Technology & innovation landscape
3.5 Internet of Things
3.6 Patent analysis
3.7 Key initiative and news
3.8 Regulatory landscape
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.1.1 Growing number of natural disasters
3.9.1.2 Increasing fire incident in urban area
3.9.1.3 Rising incidents of cyber-attack worldwide
3.9.1.4 Government investment to cop up with natural disasters.
3.9.1.5 Infrastructure advancement for safety in several industries
3.9.2 Industry pitfalls & challenges
3.9.2.1 Limited resources and high cost of investment in emergency systems
3.9.2.2 Less reliable due to false alarm alert
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.