Crisis Management Software Global Market Poised to Reach $6.94 Billion By 2028, Predicts The Business Research Company

The crisis management software market size has grown strongly in recent years. It will grow from $4.92 billion in 2023 to $5.28 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to growing concerns about global security, increasing complexity of supply chains, the escalating threat of cyberattacks, public and private sector collaboration, growing awareness about the importance of crisis preparedness.

The crisis management software market size is expected to see strong growth in the next few years. It will grow to $6.94 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to the proliferation of mobile devices, organizations prioritize business continuity planning, growing organizational complexity demands, government initiatives promoting crisis preparedness. Major trends in the forecast period include rise in the development and utilization of mobile applications, integration of internet of things (IoT) devices, blockchain for security, user-friendly interfaces, predictive analytics.

Market Overview -
Crisis management software is a specialized set of tools and applications designed to assist organizations in planning, coordinating, and executing effective responses to various crises, emergencies, or disruptions. This software streamlines communication, resource allocation, and decision-making during emergencies, enhancing organizations' ability to respond to and recover from crises effectively.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=14309&type=smp

Rising Frequency Of Natural Disasters Fuels Growth Of Crisis Management Software Market
Growing occurrences of natural disasters are expected to propel the growth of the crisis management software market going forward. Natural disasters are catastrophic events that can cause widespread destruction, loss of life, and significant disruption to everyday life. Human activities, including deforestation, land-use changes, and altering natural ecosystems, can increase susceptibility to certain natural disasters. Crisis management software expedites communication, streamlines emergency operations, and enhances decision-making, facilitating effective response strategies and mitigating the impact on affected regions. For instance, in January 2024, according to a report published by the National Centers for Environmental Information (NCEI), a US-based government agency, there were 28 confirmed weather and climate disaster events in the United States, each causing losses exceeding $1 billion. These events included one drought, four floods, 19 severe storms, two tropical cyclones, one wildfire, and one winter storm. Therefore, the growing occurrence of natural disasters drives the growth of the crisis management software market.

Competitive Landscape -
Major companies operating in the crisis management software market are Lockheed Martin Corporation, International Business Machines Corporation, Honeywell International Inc., Motorola Solutions, Blackboard Inc., Everbridge Inc., AlertMedia, OnSolve, xMatters Inc., Resolver, ARCOS LLC, Agility Recovery, LogicGate, Eccentex Corporation, LiveSafe Inc., Juvare LLC, The Response Group Inc., CrisisGo Inc., RockDove Solutions, Crisis Management Solutions Inc., Regroup Mass Notification, Crisis Track, Bryghtpath LLC, RiskWatch International, Assurance Software, Rave Mobile Safety, Noggin, MissionMode Solutions Inc.

The Emergence Of AI-Powered Incident Assistants
Major companies operating in the crisis management software market are increasing their focus on developing advanced solutions, such as AI-powered incident assistants, to gain a competitive edge in the market. This solution utilizes artificial intelligence algorithms and capabilities to assist in managing and responding to various incidents or emergencies. For instance, in February 2024, Blameless, a US-based software company, launched an AI-powered Incident Assistant feature. This feature is a transformative tool within the Blameless platform that provides immediate clarity on the status of incidents by condensing thousands of lines of communication into a concise overview in less than a second. It uses AI to automatically generate incident summaries that are easy, instant, and up-to-date, revolutionizing the approach to briefing responders and keeping non-technical stakeholders informed. Additionally, Blameless ensures privacy and compliance by keeping all incident data within its customers' enterprise accounts.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/crisis-management-software-global-market-report

Key Segments -
The crisis management software market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment Mode: Cloud, On-Premise
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Application: Business Continuity, Risk Assessment And Analysis, Emergency Notification System, Training And Simulation, Family Reunification, Other Applications
5) By Vertical: Government And Defense, Healthcare, Information Technology (IT) And Telecommunication, Banking, Financial Services And Insurance (BFSI), Energy And Utility, Education, Other Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.