According
to the new market research report "Vendor Risk Management
Market by Solution (Compliance Management, Audit Management, Financial Control,
Quality Assurance Management), Service, Deployment Type, Organization Size,
Industry Vertical, and Region - Global Forecast to 2022", 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 a Compound Annual Growth Rate (CAGR) of 14.6% during
the forecast period.
Don’t
miss out on business opportunities in Vendor Risk Management Market
Speak to our analyst and gain crucial industry insights that
will help your business grow:
Increasing
trend of outsourcing various business operations and risk assessment of vendors
are major drivers of the vendor risk management market. Moreover, it is
increasingly important for enterprises to identify and mitigate these risks to
achieve their business goals and sustain in the intense competition.
Rapid adoption of vendor risk management
solutions, owing to strong and well-established economies, is expected to make
North America the largest regional market.
In
the US and Canada, organizations are rapidly adopting and willing to invest in
emerging technologies, such as analytics, big data, and cloud platforms. North
America has the first-mover advantage of adopting new technologies, such as
smartphones and cloud platform. Moreover, there is an increasing demand among
enterprises to reduce the risk associated while managing various vendors and
increase productivity in the region. Companies willingly invest in North
America. The factors driving the growth of the vendor risk management market in
North America are stable economy, technology enhancements, and optimized
infrastructure costs.
Browse and
in-depth TOC on "Vendor
Risk Management Market"
71
- Tables
29
- Figures
122
- Pages
View more detailed
TOC @
The BFSI vertical is expected to hold the largest market size during
the forecast period.
The BFSI vertical includes commercial banks,
insurance companies, non-banking financial companies, stock brokerage firms,
and payment gateway providers. This vertical deals with critical financial
data; hence, it is a good contributor in the vendor risk management market. Due
to continuous changes in compliances, companies need to update new compliances
or rules set by the governments. Vendor risk management solutions for the BFSI
vertical help financial and insurance companies in the audits and financial
control of the organizations.
The large enterprises segment is expected to gain a larger market share
during the forecast period.
Organizations with more than 1,000 employees are
categorized as large enterprises. Large enterprises have their customers across
various regions and hold high market shares, technical expertise, and effective
business strategies. Large enterprises control many different systems at a
higher level of complexity. The market size of the vendor risk management
market is larger in the large enterprises segment. The number of solution
vendors catering to large enterprises is growing, as large enterprises spend
significant amount in vendor risk assessment and financial control while
managing multiple vendors.
Major vendors 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).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B
research on 30,000 high growth niche opportunities/threats which will impact
70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers
worldwide including 80% of global Fortune 1000 companies as clients. Almost
75,000 top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at
MarketsandMarkets™ are tracking global high growth markets following the
"Growth Engagement Model – GEM". The GEM aims at proactive
collaboration with the clients to identify new opportunities, identify most
important customers, write "Attack, avoid and defend" strategies,
identify sources of incremental revenues for both the company and its
competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants
(Positioning top players across leaders, emerging companies, innovators,
strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies this
year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s flagship competitive
intelligence and market research platform, "Knowledge Store" connects
over 200,000 markets and entire value chains for deeper understanding of the
unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/vendor-risk-management-market.asp
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/vendor-risk-management-market.asp
No comments:
Post a Comment