From an insight perspective, this research report focuses on various levels of analysis –market share analysis of the top players and company profiles, which together comprise and discuss basic views on the competitive landscape.
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The vendor risk management market size is expected to grow from USD 3.29 billion in 2017 to USD 6.50 billion by 2022, at an estimated CAGR of 14.6% during the forecast period.
The key players in the Vendor Risk Management Market include – BitSight Technologies (US), RSA (US), Genpact (US), LockPath (US), MetricStream (US), BWise (Netherlands), Resolver (Canada), SAI Global (Australia), Rsam (US), IBM (US), Optiv (US), Quantivate (US), RapidRatings(US), ProcessUnity (US), LogicManager (US), and VendorInsight (US).
The vendor risk management market has been segmented by component, deployment, organization size, vertical, and region. The report will help market leaders/new entrants in this market in the following ways:
The report segments the vendor risk management market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments.
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The market numbers are further split across different verticals and regions.
The vendor risk management market size is expected to grow from USD 3.29 billion in 2017 to USD 6.50 billion by 2022, at an estimated CAGR of 14.6% during the forecast period. An increasing need for managing complex third-party ecosystem, the fast-changing regulations across different geographies, and the need to correctly monitor and analyze vendor performance at various stages of supply chain are driving the vendor risk management market.
The major restraining factor for the growth of the market is many organizations’ dependence on non-formal and manual process to assess vendor risks.
The compliance management solution segment is expected to dominate the vendor risk management solutions segment in 2017. The solutions have been in high demand in the highly regulated industry verticals, such as BFSI and healthcare and life sciences, where the companies are dependent on various vendors to carry out their critical operations.
The compliance management solutions help companies maintain the mutually agreed terms and conditions for business processes, thus ensuring enterprises to reduce the risks associated with their third-party vendors.
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