Crisis Management Market Size

Crisis Management Market Size

Crisis Management Market size valued at USD 110 billion in 2022 and is poised to observe over 5% CAGR from 2023 to 2032.

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An increasing number of natural disasters like wildfires, floods, and earthquakes worldwide will offer a boost to the market demand. Extreme weather events including hurricanes, floods, and droughts have increased in the past few years due to climate change. These events cause considerable harm to businesses, governments, and communities around the world. For instance, in March 2023, a 7.8 magnitude earthquake struck Turkey and Syria causing more than 160,000 buildings to collapse.

Restricted resources and high costs of investment are issues that may hinder the expansion of the crisis management market. While crisis management tools can assist businesses in preventing, spotting, and handling crises, they require more time, financial stability, and resource cost. This can be a barrier for many organizations to adopt these services. However, the development of new and affordable crisis management solutions could fuel demand for the product in the next few years.