Vendor Risk Management Market - Growth Rate, Share, Forecast to 2023

0
0

Vendor risk management market is gaining prospect due to their ability in lowering the service cost. Across the globe, various organizations are now opting for these third-party vendors for their cost efficiency and better network facility. The global vendor risk management market can cash on this credibility and expect growth by CAGR 18% during the forecast period and reach a total valuation of USD 7.58 billion by 2023. Market Research Future (MRFR) in their report enlists various factors such as cyber attacks, unforeseen disruptions in operations and increasing level of regulatory risks. These factors have increased the demand for a vendor risk management system that could evaluate, monitor, and manage the functional capacity of third-party suppliers. Vendor risk management market is expected to thrive on this integration of the system across verticals.

Get Free Sample at: https://www.marketresearchfuture.com/sample_request/5944 

Segmentation:

The global vendor risk management market can be segmented by component, deployment, organization size, and end-user.

By component, the vendor risk management market is sub-segmented as solutions and services. Services can further be segmented into professional services and managed services. The professional services are sub-segmented into consulting services, implementation services, and maintenance & support services. The solutions are segregated as policy & procedure management, monitoring & performance management, assessment management, compliance management, contract management, quality management, and others.

Based on the organization type, the vendor risk management market includes large enterprise and small & medium enterprise (SME).

On the basis of deployment, the vendor risk management market includes on-cloud and on-premises.

By end-user, the vendor risk management market comprises IT & telecom, BFSI, manufacturing, energy & power, healthcare, transportation & logistics, government, and others (media & entertainment and education).

Regional Analysis:

Geographically, Vendor Risk Management Market spans across four different regions namely North America, Asia Pacific (APAC), Europe, and the Rest-of-the-World (RoW).

North America is expected to have significant growth in the vendor risk management market. Its growth is depending on the implementation of growing expertise and infrastructural change. The region has a fairly superior infrastructure which helps organizations to select third-party vendors for service. The United States and Canada are leading the market in the region. The growth can also be attributed to high-level of expertise and prolific integration of the cloud deployment of vendor risk management.

Asia Pacific is also anticipated to be the fastest growing region in the vendor risk management market during the forecast period. India, Japan, South Korea, and China are the leading countries owing to a substantial transformation in the industrial sector and increasing collaboration with third-party vendors for managing security services in banking, financial services and insurance (BFSI) and telecom sector. Furthermore, Europe is expected to have substantial growth in the market. Its robust technological infrastructure can be considered as a driving factor.

Market Insight:

The global vendor risk management market is currently witnessing several tactical moves which are taking the market forward. For instance, Lockpath and RiskRecon are collaborating to increase third-party engagement in businesses. Rsam and RapidRatings have also announced their partnership to guide organizations towards better service providing.

Some of the key players of vendor risk management market include IBM Corporation (U.S.), MetricStream (U.S.), Lockpath Inc. (U.S.), Logic Manager (U.S.), Rsam (U.S.), BitSight Technologies (U.S.), RSA (U.S.), Genpact (U.S.), Resolver (Canada), SAI Global (Australia), Optiv (U.S.), Quantivate (U.S.), BWise Internal Control (The Netherlands), RapidRatings (U.S.), ProcessUnity (U.S.), VendorInsight (U.S.), and others.

Browse More Details on Report at: https://www.marketresearchfuture.com/reports/vendor-risk-management-market-5944 

About Market Research Future: 

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact:

+1 646 845 9312

Email: sales@marketresearchfuture.com

Blog: http://mrfrblog.com/

Showing 0 results
Your Answer

Please first to submit.

Get involved

Register

As a member of this site you will be able to receive aggregates news relating only to those categories that are most relevant to you, submit job listings for FREE, post questions in the Q&A, and more.

Register Now

Feature your company

The Feature Your Company listing is your custom-made (by us) profile page that allows you to add any of the following content: text, videos, links, images. The page will also be listed on the Featured Company landing page. Over 560 unique aggregates users visit the site per day! Complete the enquiry form now to contact us.

Contact us

Jobs

Are you looking for an aggregate related job? Click here to see our jobs listing supplied by industry experts United Employment.

See Jobs

Advertise

Reach thousands of budget holders and decision makers by promoting your company on the longest established aggregate website in the US & Canada. Or advertise in our emails which are sent to opted-in subscribers according to their chosen categories. All advertising will display correctly on tablets and mobiles as this site is responsive.