Global Crisis Communication Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Crisis Communication Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Crisis communication refers to the strategic process of managing and responding to a significant event or situation that poses a threat to the reputation, operations, or overall well-being of an individual, organization, or community. It involves effectively communicating with stakeholders, such as employees, customers, the media, government agencies, and the general public, during times of crisis or emergency. The primary goal of crisis communication is to provide accurate, timely, and transparent information to those affected by or interested in the crisis. It aims to minimize the negative impact of the crisis, maintain or restore public trust and confidence, and protect the reputation and credibility of the affected entity.

Market Overview:

The latest research study on the global Crisis Communication market finds that the global Crisis Communication market reached a value of USD 4486.2 million in 2022. It’s expected that the market will achieve USD 7549.6 million by 2028, exhibiting a CAGR of 9.06% during the forecast period.

Impacts of Global Inflation on Crisis Communication Industry

Global inflation has several impacts on the Crisis Communication industry, affecting its operations and effectiveness. One significant impact is the rising cost of services. Inflation can lead to increased expenses for crisis communication agencies and consultants, including personnel, technology, and resources necessary for effective crisis management. This can strain the budgets of organizations seeking crisis communication support, potentially limiting their ability to afford comprehensive services. Moreover, budget constraints may force organizations to prioritize cost-cutting measures, potentially reducing resources allocated to crisis communication planning and response activities. Inflationary pressures can also shift organizational priorities, with a potential decrease in emphasis on crisis communication as resources are redirected to address immediate financial concerns. Additionally, inflation can impact stakeholder concerns, as economic uncertainties associated with inflation can heighten anxieties and increase sensitivity to organizational crises. Crisis communication professionals must navigate these challenges by adapting strategies, understanding changing audience behaviors, and ensuring effective communication to maintain trust and mitigate reputational damage.

Drivers

The Crisis Communication industry has witnessed a significant rise in recent years due to the increasing incidences of crises across various sectors. Crises, ranging from natural disasters to cybersecurity breaches and corporate scandals, have become more frequent and severe, necessitating specialized communication strategies to mitigate their impact. The digital age has accelerated the spread of crisis-related information, making effective communication even more crucial to managing reputational damage and maintaining stakeholder trust. Organizations now recognize the need for proactive crisis management plans and rapid response mechanisms to address these emergent challenges.
For example, in 2022, a series of crisis events about Elon Musk, the co-founder of Tesla and the new owner of Twitter, including but not limited to racist culture caused losses of nearly $200 billion. As well as the allegations of corruption in the bidding process of FIFA during the 2022 World Cup, there were many such public crises in 2022.
In conclusion, the escalating frequency and complexity of crisis events have given rise to the Crisis Communication industry. By providing expert guidance, strategic planning, and effective communication during challenging times, this industry plays a crucial role in helping organizations navigate crises and safeguard their reputation in an increasingly volatile world.
Internet has changed the way the public knows the world, and new media such as Facebook, Intergram, Tiktok and Sina Weibo have become necessities in public life. In the past, public crisis information was almost delivered by traditional media, and most of the information accessible to the public came from newspaper news or TV reports. This information comes from the traditional mainstream media with high authority, and the possibility of information distortion is small.
With the popularity of the Internet, there are more and more channels for information transmission. Today, with the information explosion the public has to receive tens of thousands of information every day, and the flood of information flow leads to the public being overwhelmed and difficult to digest. The uncertainty of information may affect the public's interpretation, judgment and decision-making of public crisis events, and information becomes more diverse and complex in content.
Therefore, the complexity of public psychology has contributed to the occurrence of group behavior to a certain extent. Network cluster behavior refers to a certain number of unorganized network groups, which are generated around a specific realistic theme and stimulated by certain inducing factors, and are characterized by the strengthening and convergence of opinions, and have realistic influence on netizens. The public in the same group gather temporarily for the right to speak or for a common interest. In the Internet environment, when a public crisis breaks out, the phenomenon of network cluster behavior is particularly obvious.
The governance of network public opinion has become the key content of social governance. Uncontrollable public opinion may appear in cyberspace at any time, and its spillover effect poses a certain threat to social stability. Given these factors, organizations must develop comprehensive crisis communication plans and strategies that account for the complexities of the network environment. This includes monitoring social media, establishing clear communication channels, preparing pre-approved messages, training spokespersons, and regularly updating crisis response plans to address new challenges posed by evolving technology and communication platforms.

Region Overview:

Asia Pacific had the highest growth rate of all regions in 2022.

In 2022, the share of the Crisis Communication market in Asia Pacific stood at 33.57%.

Company Overview:

Edelman is one of the major players operating in the Crisis Communication market, holding a share of 1.04% in 2023.

Edelman provides public relations counsel and communications services. The Company offers reputation and advocacy advertising, business-to-business communication, data security and privacy, and management consulting services.

APCO Worldwide provides consulting services. The Company offers corporate advisory, marketing communications, finance, public relations, litigation support, strategic planning, business diplomacy, regulatory consulting, international relations, and investment policy development.

Segmentation Overview:

The Communication in Crisis segment by type showed a value growth of 12.33% in 2022.

Among different product types, Communication in Crisis segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Commercial segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Crisis Communication market covered in Chapter 3:

Bob Gold & Associates
NewmanPR
Motion
Matter Communications
WebiMax
APCO Worldwide
SHERMAN
Edelman
JJR Marketing, Inc
FINN Partners
AJ Ross Creative Media
Marketing Maven
10 to 1 Public Relations
Sensis
BIGfish PR

In Chapter 4 and Chapter 14.2, on the basis of types, the Crisis Communication market from 2018 to 2029 is primarily split into:

Pre-crisis communication
Communication in Crisis
Post-crisis communication

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Crisis Communication market from 2018 to 2029 covers:

Personal
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)