Global Vendor Risk Management Analytics Market is expected to reach USD 11.4 Billion by 2026 from USD 2.84 Billion in 2016 at a CAGR of 16.7%.
Global Vendor Risk Management Analytics Market Vendor risk management analytics market is segmented by Component, by Deployment mode, by Organization size, by Vertical & by Geography. Based on the component market is divided into Service and solution. Deployment model is spit into Cloud & On-premises. Organization size is classified into Large enterprise & Small and medium enterprises (SMEs). Verticals are BFSI, Government, Healthcare & Life sciences, Telecommunication & IT, Manufacturing, Consumer Goods & Retail, and Energy & Utilities. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
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Vender present have also been taken into consideration to determine the market segmentation. The bottom-up system was employed to arrive at the total market size of the market from the revenue of the key market solution and service providers. After arriving at the overall market size, the total market was divided into several segments and sub-segments, which were then verified through primary research by conducting extensive interviews with key people, that Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives.
Based on vertical, BFSI vertical deals with serious financial data in insurance companies, non-banking financial companies, and payment gateway providers. Henceforth this vertical is a worthy contributor in the vendor risk management market. Vendor Risk Management Analytics Market solutions help financial and insurance companies in the checks and economic control of the organizations.
On the basis of organization size, SMEs often bring to form partnerships with multiple vendors to serve their business objectives, as SMEs need the in-house resource pool. The increasing need to partner with dissimilar vendors across geographies, it becomes essential for SMEs to ensure and mitigate the analytic risks associated with their vendors. Cloud-based vendor risk management solutions have rest a vital role in exploring opportunities in SMEs. Due to the limited budget, SMEs mostly prefer cloud-based solutions over on-premises solutions, and this assuming trend is expected to accelerate in the years to come, enabling the cloud deployment type to have a considerable market size between the forecast periods.
In terms of Region, North America expected to hold the largest Vendor Risk Management Analytics Market share during forecast period driven by Swift adoption of vendor risk management solutions, owing to huge and well-established economies. Organizations are swiftly adopting and willing to invest in developing technologies in the US and Canada like big .data, and cloud platforms. A stable economy, technology improvements, and improved infrastructure costs.
Key players operate on the market are, Metricstream, Rsa , Sai Global, Resolver, Genpact, Lockpath, Rsam, Optiv, IBM, Quantivate, BitSight Technologies, Genpact, BWise, Resolver, Optiv, RapidRatings, LogicManager, VendorInsight . ProcessUnity.
The scope of the Global Vendor Risk Management Analytics
Global Vendor Risk Management Analytics Market, By Component:
- Services
- Solutions
Global Vendor Risk Management Analytics Market, By Deployment Mode:
- Cloud
- On-premises
Global Vendor Risk Management Analytics Market, By Organization Size:
- Large Enterprise
- Small & Medium Enterprises
Global Vendor Risk Management Analytics Market, By Vertical:
- BFSI
- Government
- Healthcare & Life sciences
- Telecommunication & IT
- Manufacturing
- Consumer Goods & Retail
- Energy & Utilities
Global Vendor Risk Management Analytics Market, By Geographies:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
For more information visit: https://www.maximizemarketresearch.com/market-report/vendor-risk-management-analytics-market/2185/
Key Players operating in the Global Vendor Risk Management Analytics Market
- Metricstream
- Rsa
- Sai Global
- Resolver
- Genpact
- Lockpath,
- Rsam,
- Optiv,
- IBM,
- Quantivate,
- BitSight Technologies,
- Genpact,
- BWise,
- Resolver,
- RapidRatings
- LogicManager
- VendorInsight
- ProcessUnity.
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According to a 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" published by MarketsandMarkets™, the Vendor Risk Management Market 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.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.
Browse in-depth TOC on "Vendor Risk Management Market” 71-Tables 29-Figures 122- PagesDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=227642142Rapid 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.
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.
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.Speak to Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=227642142Major 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.
Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Vendor risk management is a software-powered system that helps keep track of risk from third-party service providers by proper monitoring and managing.
The growing trends of adopting paperless technologies and systems free from manual operations are among the major factors responsible for this market's constant growth.
Also, the rapid expansion of businesses from local to global markets has increased the dependence on third-party service providers, which has increased the burdens of managing the data with ease and least space for errors.
Factors like low awareness and high dependence on older managing methods have restrained the market's evolution.
As far as the study suggests, the global vendor risk management market will show a 14 % yearly growth.Market DivisionThe vendor risk management market is an immense field and is divided as follows:The global vendor risk management market is characterized as solutions and services in view of components.In view of deployment types, the global vendor risk management market is characterized as on-premise and cloud-based.The global vendor risk management market is characterized by small & medium enterprises (SMEs) and large enterprises, in view of organization size.The global vendor risk management market is characterized by banking, financial services, and insurance (BFSI), manufacturing, healthcare, and others, in view of end-users.Regional ClassificationDemands for vendor risk management are at a high rise because of factors like rapidly expanding industries and rapidly advancing technological environments.
As per the study and market stances, the global market is impelled by the North American region and will be the fastest-growing under the influence of factors like high adoption & demands of revolutionary technologies, presence of supreme market players, high grant values for research & development programs, and others.
