In addition, the momentum of the market will progress at a CAGR of 6.05 per cent during the forecast period.
The market is segmented by Component (Solution and Services), Deployment (On-premise and Cloud-based), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
North America will contribute a third of the growth of the global market during the forecast period. North American organisations are early adopters of new technologies such as AI, IoT, cloud, and analytics.
North American enterprises are integrating advanced technologies such as IoT and analytics to improve business efficiency and profitability. They deploy customer and business-centric applications to improve services. The region also witnesses increased data generation in industries such as telecommunications, manufacturing, retail, and energy, driving demand for deploying AI-based solutions.
Such factors drive the growth of the crisis management software market in the region during the forecast period.