Press release
Rising Cybersecurity Threats Fuel The Growth Of The BFSI Crisis Management Market: A Key Factor Shaping the Future of the Banking, Financial Services, And Insurance (BFSI) Crisis Management Market in 2025
Banking Financial Services And Insurance BFSI Crisis Management
The growing threat of cybersecurity is expected to propel the growth of the banking, financial services, and insurance (BFSI) crisis management market. Cybersecurity threats, including malicious activities aimed at stealing, altering, or destroying data, are becoming more sophisticated. Digital transformation and increasing regulatory requirements add to the urgency of managing these risks. Crisis management in the BFSI sector helps organizations respond effectively to cyber threats, ensuring compliance and protecting stakeholder trust. For instance, the FBI reported a significant rise in investment fraud, with complaints jumping 127% from $1.45 billion in 2021 to $3.31 billion in 2022. This rise in cyberattacks is driving the growth of the BFSI crisis management market.
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What growth opportunities are expected to drive the banking, financial services, and insurance (bfsi) crisis management market's CAGR through 2034?
The banking, financial services, and insurance (BFSI) crisis management market has expanded rapidly, forecasted to grow from $13.26 billion in 2024 to $15.45 billion in 2025 at a CAGR of 16.5%. The historical growth was driven by the rise of remote work culture, increasing digitization of banks and financial services, growing frequency of financial crises, stricter regulatory requirements, and the increasing complexity of financial systems.
The banking, financial services, and insurance (BFSI) crisis management market is set to grow rapidly, projected to reach $28.15 billion by 2029 at a CAGR of 16.2%. Growth in this market will be fueled by rising cybersecurity threats, increasing awareness among BFSI organizations, the growing need for operational resilience, demand for enhanced customer experiences, and the accelerating transition toward online financial services. Prominent trends in the forecast period include the rise of cloud-based solutions, continuous technological advancements, the integration of artificial intelligence (AI), the application of machine learning, and the adoption of big data analytics.
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What are the emerging trends shaping the future of the banking, financial services, and insurance (bfsi) crisis management market?
Leading companies in the banking, financial services, and insurance (BFSI) crisis management market are developing climate technologies to manage financial risks caused by climate-related disruptions. Climate technology encompasses innovative solutions designed to address and mitigate the impacts of climate change, including renewable energy, emissions reduction, and climate risk management systems. For instance, in October 2024, Adaptive Insurance, a UK-based tech-focused parametric insurance platform, launched GridProtect, which protects users from power outages caused by climate risks. This solution aims to fill a gap left by traditional insurance policies, offering financial relief following grid disruptions. Power outages in the US affect around 15 million businesses each month, leading to substantial economic losses.
Which growth-oriented segments of the banking, financial services, and insurance (bfsi) crisis management market are leading the industry's development?
The banking, financial services, and insurance (BFSI) crisis management market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment: On-Premise, Cloud
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises
4) By Application: Risk And Compliance Management, Disaster Recovery And Business Continuity, Incident Management And Response, Other Applications
Subsegments:
1) By Software: Crisis Management Software, Risk Assessment and Management Software, Incident Management Software, Business Continuity Planning Software, Communication and Collaboration Tools
2) By Services: Consulting Services, Training and Awareness Programs, Incident Response Services, Recovery and Continuity Services, Compliance and Regulatory Advisory Services
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What regions are leading the charge in the banking, financial services, and insurance (bfsi) crisis management market?
North America was the largest region in the banking, financial services, and insurance (BFSI) crisis management market in 2024. The regions covered in the banking, financial services, and insurance (BFSI) crisis management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the banking, financial services, and insurance (bfsi) crisis management market?
Major companies operating in the banking, financial services, and insurance (BFSI) crisis management market are Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited, KPMG International Limited, Capgemini SE, SAS Institute Inc., Software AG, LogicGate Inc., Everbridge Inc., NCC Group, MetricStream Inc., CURA Software Solutions, Resolver Inc., Fusion Risk Management Inc., Beekeeper AG, 4C Group AB, Noggin Pty Ltd., RQA Europe Ltd., Veoci Inc., Konexus, Rockdove Solutions Inc.
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What Is Covered In The Banking, Financial Services, And Insurance (BFSI) Crisis Management Global Market Report?
•Market Size Forecast: Examine the banking, financial services, and insurance (bfsi) crisis management market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the banking, financial services, and insurance (bfsi) crisis management market for a structured understanding.
•Key Players Overview: Analyze major players in the banking, financial services, and insurance (bfsi) crisis management market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the banking, financial services, and insurance (bfsi) crisis management market.
•Segment Contributions: Evaluate how different segments drive overall growth in the banking, financial services, and insurance (bfsi) crisis management market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the banking, financial services, and insurance (bfsi) crisis management market.
•Industry Challenges: Identify potential risks and obstacles affecting the banking, financial services, and insurance (bfsi) crisis management market.
•Competitive Landscape: Review strategic developments in the banking, financial services, and insurance (bfsi) crisis management market, including expansions, agreements, and new product launches.
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