Crisis Comms Market Sizing

Part
01
of three
Part
01

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.

Calculations

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.
Part
02
of three
Part
02

Fortune 500 Companies, Crisis Communication Tech

After an in-depth search through research reports, industry reports, company websites, and Fortune 500 list, we were not able to find the information on the percentage of Fortune 500 companies using crisis communication technology. However, we were able to find a few examples of Fortune 500 companies who are using the technology in some form, no comprehensive list or percentage of Fortune 500 companies doing so could be retrieved. Based on our research, we have listed our helpful findings.

The primary reason for the unavailability of the requested information is that it is a niche topic and therefore, no surveys or research reports have yet been compiled on this. Below is a deep dive into our methodology including how we searched and why some of the required information is not available publicly.

METHODOLOGY

Our first strategy was to scour through the various research reports on the Crisis Management/Incident Management/Emergency Management industry such as Markets and Markets, Market Watch, Grand View Research, Allied Market Research, Mordor Intelligence, Technavio, and others. But these reports did not provide the desired information. Most of the information found catered around the market size, projected growth, key vendors, and key markets / geographies with no reference to Fortune 500 or list of key industry players deploying the crisis management technology.

Next, we decided to look into the vendor 'Everbridge' and searched for other relevant vendors who operate in this space. The idea was to go through their websites, filings, press releases, customer/client case studies, client list, client feedback, etc. in order to check if anyone of them has disclosed any information on their Fortune 500 clientele or listed any percentage of Fortune 500 companies that they serve. Our strategy was based on the reason that generally, leading companies mention that X% of their clients belong to Top Y category of companies, etc. and hence, we navigated on this research path. While we were able to successfully locate the list of comparable vendors (took a total sample of 5) operating in the crisis communication technology space, a deep dive into their clientele did not yield any fruitful results. While we were able to find a few Fortune 500 companies catered to by these vendors, there was no comprehensive list or any reference to the percentage of Fortune 500 served by them was found. We made sure to run each of the customers mentioned by the vendors through the list of Fortune 500 companies. Everbridge was the only vendor that was found to enlist that it caters to "7 of the 10 Top U.S. Technology and Telecom Companies", "4 of the 4 Largest Global CPA Firms", and "7 of the 10 Largest U.S. Healthcare Systems" etc. However, again NO direct reference to Fortune 500 was found.

Later, we attempt to triangulate the information. In order to do so, we attempted to start off from the list of Fortune 500 companies and checked them individually if any of them has disclosed any information around the deployment of crisis communications technology. Since it was not feasible to check for each of the 500 companies, we decided to sample the leading 15 companies by revenue which represent the bulk of the revenues of the Fortune 500 group. Our approach was then to triangulate the information stating that since x% of Top 15 companies, which represent bulk of group revenues, use crisis communication technology the same can be taken as a fair representation for the entire Fortune 500 group. For this, we visited the website, press releases, blog articles, company filings, FAQ section, vendor information, media articles, and others for each of the companies and tried to search for the relevant information.

However, unfortunately, no direct information or any evidence of these firms using crisis communication technology similar to one from Everbridge could be found. Most of the information found was around crisis management through PR or instances of how the firms have reacted to crisis situations in the past. Thus, triangulation could not be accomplished in this case.

Further searches were performed through media articles obtained from Forbes, WSJ, Business Insider, Bloomberg, Live Mint, etc, and statistical sources such as Statista on any crisis communication usage statistics of Fortune 500 companies and any surveys from Pew Research, Market Insider, etc. around the deployment and usage of crisis communication technology by companies. But no relevant information could be garnered from these sources. Most of the information found was apropos of the core elements of the crisis communication market, best practices in crisis communication, and strategies to build successful crisis communication strategy.

Therefore, based on our research, we have established that the information on the percentage of Fortune 500 companies which currently use some sort of crisis communication technology is not available publicly. This is mainly due to the niche nature of the request and therefore, no surveys or research reports have yet been compiled on this. Also, not all the companies are forthcoming with the information on the technology that they deploy for crisis management due to competitive and confidential reasons and this makes the information compilation and availability all the more terse. Below we have provided helpful findings obtained through our research.

HELPFUL FINDINGS

  • The global crisis management market was valued at about $8 billion in 2016 and is expected to reach $10 billion by 2021. Some of the top vendors in this industry include Edelman, Weber Shandwick, Fleishman-Hillard, Ketchum, and Burson-Marsteller.

  • In terms of geographical analysis, North America led the global market in 2016 by accounting for around 40% of the overall market share. The growth of the crisis management services market in North America can be accredited to the relatively higher market maturity when compared with other regions.

  • Some of the industry players providing crisis communication technology solutions for corporates include Everbridge, Alertus Technologies, Xmatters, OnSolve, and Singlewire Software.

  • Everbridge has listed Biogen as one of its customers which is a Fortune 500 Company. In addition, the company caters to "7 of the 10 Top U.S. Technology and Telecom Companies", "4 of the 4 Largest Global CPA Firms" and "7 of the 10 Largest U.S. Healthcare Systems" which are likely to feature Fortune 500 companies. However, the individual names were not disclosed by the company.

  • Some of the Fortune 500 companies that are clients of Alertus Technology include Jabil, Disney, CSX, and CBS.

  • The clients/customers for XMatters include Krogers and Kellogs which are Fortune 500 companies.


  • SingleWire software caters to Fortune 500 companies such as Cintas, Cisco, Valero Energy, and Yum Brand.
Part
03
of three
Part
03

Crisis Communication Tech Price Range

After a thorough search through various industry articles and review reports, we calculated and determined the average price range of crisis communication technology that large companies such as Fortune 500 companies use, and it is in the range of $16.60 to $40.18 per user.

METHODOLOGY

To address this request, we commenced our research by looking up price trends around crisis communication technology products in industry-related articles and reports published by sources such as Fortune, Technavio, Inc., and SEMrush. However, these sources only provided the market size of the entire industry, while there was no information about the prices of these products.
Next, we looked up technology and software review websites. We scoured through sources such as Gartner, Capterra, G2crowd, etc. This strategy did not yield any fruitful results as these sources only rated the software on the basis of various criteria like usability, features and also, pricing (if it's worthwhile or not). However, no information on the average price was provided.
Due to a lack of pre-compiled information, we resorted to determining this data by triangulation. To achieve this, we sought out the competitors of/alternatives to Everbridge. We gathered them as provided by Gartner and they were Alertus Technologies, Xmatters, OnSolve, and Singlewire Software. Next, we looked at the websites, product pages, and client pages of these companies to ensure that they provide crisis communications or mass/emergency products and are used by large companies like Fortune 500 companies. Here is a list of the 2018 Fortune 500 companies that we used. Next, we have tried to find their pricing details. While we were able to identify the pricing for Everbridge, Xmatters, and Singlewire Software, the pricing information for Alertus Technologies and OnSolve is not disclosed and it requires a customer to request a direct quite. We also tried to obtain the information from various review websites such as Capterra, G2crowd, and Featured Customers. However, it was only noted that these vendors have not disclosed the pricing information of their products.
Therefore, we used the pricing information for Everbridge, Xmatters, and Singlewire Software to calculate the average price range for crisis communication technology.

KEY FINDINGS AND CALCULATIONS

According to an analysis by Gartner, Alertus Technologies, Xmatters, OnSolve, and Singlewire Software are competitors of Everbridge and they offer various alternatives to Everbridge's crisis communications products. These five companies all serve various large clients/companies across all industries, including Fortune 500 companies. Some Fortune 500 clients of the identified companies include:

The pricing data of the crisis communication technology provided by Everbridge, xMatters, and Singlewire Software is as follows:

Therefore we have calculated the average price in the following way:
Average price range for crisis communication technology = [(Everbridge + xMatters + SingleWire software) / 3]
Average price range for crisis communication technology = [($32 + $16 + 1.84) / 3] to [($50 + $59 + $11.55) / 3]
Average price range for crisis communication technology = $16.60 to $40.18 per user.

Sources
Sources