The Europe BFSI Crisis Management Market would witness market growth of 15.3% CAGR during the forecast period (2022-2028).
There are many dangers that might affect financial institutions such as banks. These include credit risk (loans and other assets becoming delinquent and ceasing to perform), liquidity risk (withdrawals exceeding the available cash), and interest rate risk (the rate at which interest is charged on loans and other assets). Challenges in the banking industry are frequently attributable to a decline in the value of the banks' assets. A decline in asset values may take place, for instance, because of a precipitous fall in the prices of real estate or because of an increase in the number of companies in the nonfinancial sector that declare bankruptcy.
Also, if the government fails to meet its financial commitments, this can cause a precipitous drop in the value of the bonds that are held in the portfolios of financial institutions. When the value of a bank's assets falls by a significant amount, the institution may find that its liabilities exceed the value of its assets, which indicates that the bank has negative capital and is considered "insolvent." Alternately, the financial institution might have some capital, but it would be below the level established by the regulations (this scenario is frequently referred to as "technical insolvency").
The United Kingdom is one of the key centers for financial services, and fintech is one of its fastest-growing sectors. Digital banking eco-systems are beginning to thrive in the UK. Due to early legislation & acceptance of open banking, the subsequent growth of fintech disruptors, and other factors, the United Kingdom has an advantage over other Western countries in a variety of digital domains.
Digitally savvy banks aiming to move are increasingly thinking about API strategy 2.0. API strategy 2.0 scales from 10-100 public APIs to thousands of bundle-ready building blocks with consistency and uniformity. In order to maximize the use of hard-to-find talent and expand the usage of APIs and services, both within digital teams and to reveal existing capabilities, large banks are also expanding this portfolio of APIs and services. The banking sector would have ample growth potential as a result of this ongoing acceptance of API and its expanding use throughout the region. This growth of banking sector would further support the expansion of BFSI crisis management market in the region.
The Germany market dominated the Europe BFSI Crisis Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,712.4 million by 2028. The UK market is poised to grow at a CAGR of 14.3% during (2022 - 2028). Additionally, The France market would register a CAGR of 16.2% during (2022 - 2028).
Based on Component, the market is segmented into Software and Services. Based on Enterprise Size, the market is segmented into Large Enterprises and SMEs. Based on Application, the market is segmented into Risk & Compliance Management, Incident Management & Response, Disaster Recovery & Business Continuity, Crisis Communication, and Others. Based on Deployment, the market is segmented into Cloud Based and On-Premise. Based on End-user, the market is segmented into Banks, Financial Service Providers, and Insurance companies. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global BFSI Crisis Management Market will Hit $28.1 Billion by 2028, at a CAGR of 17.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NCC Group plc, ViacomCBS Inc. (Noggin), LogicGate, Inc., MetricStream, Inc., 4C Strategies, IBM Corporation, Cura Global GRC Solutions Pte Ltd, Cleverbridge GmbH, Deloitte Touche Tohmatsu Limited, and SAS Institute Inc.
By Component
By Enterprise Size
By Application
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By End User
By Country
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