US Crisis Communications Market
Although we were unable to find data on the US market size of the crisis communication market nor enough data to triangulate a reasonable estimate, our research team estimated that the US crisis management market is about $31.26 billion. The majority of the crisis management market is due to crisis management communication.
Crisis management in this context is defined as "the process by which an organization deals with a disruptive and unexpected event that threatens to harm the organization or its stakeholders. It prepares the individuals to face unexpected developments and adverse conditions in the organization with courage and determination. It includes activities and processes which help the managers as well as employees to analyze and understand events which might lead to crisis and uncertainty in the organization."
Below, you will find more details about our attempt to find data on US crisis communication and the relevant findings we encountered.
METHODOLOGY and findings
To find data on the market size of crisis communications in the US, we started by extensively searching market research databases such as Market and Market, IBIS World, Technavio, Grandview Research, and Forester, however, we were unable to find data on the US crisis communication market. The most relevant data we found after searching extensively was data on the global crisis management market.
Next, we searched on media and industry database such as Forbes, Inc, e-Marketer, Business Insider, Fortune, Entrepreneur, among others, for data on the crisis communications market size in the US. While we saw several reports on crisis management strategies brand can adopt as well as trends in crisis management, we didn't find data on the market size of the US crisis communications market.
We also searched statistics databases such as Statista and Statistics Brain that sometimes provide data on market sizes, but we couldn't find the data. The most relevant data we found on Statista is data on the crisis management market in Japan.
Given that the most relevant source of information our research thus far revealed was data on the global crisis management market, we attempted to triangulate the US crisis communication market from the data.
First, we tried to find the portion of the global crisis management market that was due to communication specifically. Although the majority of crisis management has to do with crisis communication, the crisis management market is a broader market, so we tried to find data on just the crisis communication market or the share of the overall crisis management market that was due to communication. However, the majority of the data in the market report is behind a paywall so we couldn't determine if the data is contained in the report. Other searches in the other aforementioned sources for the share of the crisis management market that was due to crisis communication didn't reveal the data.
Since we couldn't find data on just the crisis communication market, we attempted to find the percentage of the overall global crisis management market that was due to the US market, so we could triangulate the data. We searched all the aforementioned sources and databases above but we couldn't find the data either.
Since the crisis communication market comprises public relations management and crisis communication technology market, we tried to find the US market share of either of those industries as a proxy for the US market share of the overall crisis management market.
Our research revealed the US PR market size data as well as the global PR market size which enabled us to calculate the US share of the global PR market. We then used that data to triangulate the US crisis management market. We have assumed that the majority of the crisis management market will be due to communications management. This is indirectly supported by the fact that companies such as IBM, NC4, and the Response Group that provide crisis communication solutions and technology are the key market players in the crisis management market.
According to QYReports, the global crisis management market size is expected to reach $122 billion by 2022, growing at a CAGR of 5% between 2018 and 2022. This means that the market was worth $95.59 billion in 2018 and will be worth about $100.39 billion in 2019 (calculations with the aid of an online CAGR calculator).
IBIS World reports that the US public relations market size is $17 billion in 2019 and the global Public Relations market size is worth $52 billion in 2018. The global public relations market is growing at a CAGR of 5%, which means that the 2019 market size is about $54.60 billion (calculations made using an online CAGR calculator). This means that the US public relations market share when compared to the global PR market is about 31.14% ($17 billion/$54.60 billion * 100%).
If we assume that the US crisis management market will have a share of the global crisis management market that is similar to the US PR market share of the global PR market, we will have that the US crisis management market size is about $31.26 billion (31.14% * $100.39 billion).
As explained in the methodology section above, we were unable to find enough data to triangulate a reasonable estimate of the percentage of the crisis communication market from available data, however, the majority of the crisis management market is likely due to crisis communication.