COVID-19 to Exert a Significant Impact on the Crisis Management Software Market

The global crisis management market is a moderately consolidated market and is foreseen to grow during the forecast period. The crisis management software market was valued at USD 105 billion in 2019 and is expected to grow with a CAGR of 6.1%. The growth is attributed to growing government regulations and norms to enhance public safety during and after the disaster. Furthermore, a surge in the adoption of digital technology is also one of the factors propelling the market growth.

Additionally, expenditure allocation by various states and central governments to mitigate disasters is likely to pave the way for the crisis management software market growth. However, the disconnection between disaster risk reduction policy and crisis management in practice hinders market growth.

Key Highlights

• By deployment mode, the cloud segment holds the largest share compared to the on-premise segment and is presumed to grow during the forecast period. The growth is attributed to an increase in process automation solutions across all industrial verticals.
• By organization size, the large enterprise segment holds the highest CAGR on account of the incorporation of digital technology that resulted in an increase in cybercrime incidences
• By component, the services segment holds the highest share and is expected to grow during the forecast period. The growth is attributed to a broad range of offerings by crisis management that led to its integration among various companies.
• By vertical, the government sector accounts for the fastest growing market and is presumed to grow during the forecast period. The growth is attributed to the increasing emergencies across the globe, including natural disasters, cybercrimes, viral diseases, others.
• Currently, crisis management software has played a vital role in assisting the state and central government in planning and response amid the coronavirus outbreak.

Market Segments

1. By Component
   1. Solutions
      1. Emergency Management
      2. Communication and Collaboration
      3. Disaster Recovery and Business Continuity
      4. Fire and Hazmat
      5. Others
   2. Services
      1. Consulting Services
      2. Training Services
      3. Other Support Services
2. By Deployment Mode
   1. Cloud
   2. On-Premise
3. By Organization Size
   1. SMEs
   2. Large Enterprises
4. By Applications
   1. Business Continuity
   2. Risk Assessment and Analysis
   3. Emergency Notification System
   4. Training and Simulation
   5. Family Reunification
   6. Others
5. By Verticle
   1. Government and Defense
   2. Healthcare
   3. IT and Telecom
   4. BFSI
   5. Energy and Utility
   6. Education
   7. Others