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Third-party Risk Management Market 2021 Global Key Vendors Analysis, Revenue, Trends & Forecast to 2027

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Third-party Risk Management Market 2021 Global Key Vendors Analysis, Revenue, Trends & Forecast to 2027

Summary

A New Market Study, titled “Third-party Risk Management Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.

Market Analysis 

The global third-party risk management market size will touch USD 8.18 billion at a 16.87% CAGR between the forecast period 2019- 2025, according to the new Market Research Future (MRFR) analysis. Third-party risk management (TPRM), simply put, is the process to identify, assess, and control these as well as other risks that are presented throughout the lifecycle of one’s relationships with third-parties. 

Various factors are propelling the third-party risk management market share. According to the recent MRFR market estimates, such factors include increasing focus to mitigate risks related to third parties by organizations, rising cyber-attacks and cyber risks, growing outsourcing of operations by organizations, technological advances, need for a seamless experience, personalised service trends, and increasing needs of organizations to augment operational efficiency across different verticals. Additional factors adding market growth include growing stringent compliance mandates to handle third-party risks, rising adoption of advanced electronic devices, and lack of in-house competencies in the organization across different verticals. 

On the contrary, lack of skilled expertise and the ongoing COVID-19 impact are factors that may limit the global third-party risk management industry growth over the forecast period. 

Market Segmentation

The MRFR report highlights an inclusive segmental analysis of the global third-party risk management based on vertical, organization size, deployment, and component. 

By component, the third-party risk management market is segmented into service and solution. The solution segment is again segmented into audit management, operational risk management, compliance management, contract management, and finance management. The service segment is again segmented into managed services and professional services. Of these, the finance management segment will lead the market over the forecast period. 

By deployment, the global third-party risk management market is segmented into on-cloud and on-premise. Of these, the on-cloud segment will dominate the market over the forecast period. 

By organization size, the global third-party risk management market is segmented to large enterprise and small and medium-sized enterprises. Of these, the large enterprise segment will spearhead the market over the forecast period. 

By vertical, the global third-party risk management market is segmented into manufacturing, retail, government, healthcare, IT and telecommunication, BFSI, and others. Of these, the BFSI segment will have the lion's share in the market over the forecast period. 

Regional Analysis 

By region, the third-party risk management market report covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), South America, and the Middle East and Africa (MEA). Of these, North America will spearhead the market over the forecast period. The presence of many eminent players in this region, coupled with the growing need for solutions to safeguard critical information from cyber-attacks are adding to the global third-party risk management market growth in the region. The United States has the utmost share in the market. Besides, significant research and development activities, partnerships, strategic investments, and the presence of leading vendors are also adding market growth. 

In Europe, the third-party risk management market is predicted to have the second-largest share over the forecast period. Increasing digitalization coupled with growing adoption of cloud-based solutions is adding to the global third-party risk management market growth over the forecast period. 

In the APAC region, the third-party management market is predicted to have healthy growth over the forecast period. Initiatives by the government to support the adoption of cloud platforms, the growing trend of industrialization & modernization, adoption in different verticals such as retail and consumer goods, IT and telecom, healthcare and life sciences, flexible economic conditions, and growing digitalization are adding to the global third-party management market growth in the region.

In South America, and the MEA is predicted to have sound growth over the forecast period. 

Key Players

Key players profiled in the global third-party risk management report include ProcessUnity, Inc (US), Riskpro (India), Venminder (US), Aravo Solutions, Inc. (US), OneTrust (US), Prevalent Inc. (US), Alyne GmbH (Germany), BitSight (US), KPMG (The Netherlands), Deloitte (US), Cisco Systems (US), Genpact (US), and RSA Security LLC (US).

Request a Free Sample Report @ https://www.marketresearchfuture.com/sample_request/8720

Major Key Points in Table of Content

1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure

….

  1. Company Profiles
    12.1 RSA Security LLC
    12.1.1 Company Overview
    12.1.2 Product/Business Segment Overview
    12.1.3 Financial Updates
    12.1.4 Key Developments
    12.1.5 SWOT Analysis
    12.1.6 Key Strategies
    12.2 Genpact
    12.2.1 Company Overview
    12.2.2 Product/Business Segment Overview
    12.2.3 Financial Updates
    12.2.4 Key Developments
    12.2.5 SWOT Analysis
    12.2.6 Key Strategies
    12.3 Cisco Systems
    12.3.1 Company Overview
    12.3.2 Product/Business Segment Overview
    12.3.3 Financial Updates
    12.3.4 Key Developments
    12.3.5 SWOT Analysis
    12.3.6 Key Strategies
    12.4 Deloitte
    12.4.1 Company Overview
    12.4.2 Product/Business Segment Overview
    12.4.3 Financial Updates
    12.4.4 Key Developments
    12.4.5 SWOT Analysis
    12.4.6 Key Strategies
    12.5 KPMG
    12.5.1 Company Overview
    12.5.2 Product/Business Segment Overview
    12.5.3 Financial Updates
    12.5.4 Key Developments
    12.5.5 SWOT Analysis
    12.5.6 Key Strategies
    12.6 BitSight
    12.6.1 Company Overview
    12.6.2 Product/Business Segment Overview
    12.6.3 Financial Updates
    12.6.4 Key Developments
    12.6.5 SWOT Analysis
    12.6.6 Key Strategies
    12.7 Alyne GmbH
    12.7.1 Company Overview
    12.7.2 Product/Business Segment Overview
    12.7.3 Financial Updates
    12.7.4 Key Developments
    12.7.5 SWOT Analysis
    12.7.6 Key Strategies
    12.8 Prevalent Inc
    12.9 OneTrust
    12.10 Aravo Solutions, Inc
    12.11 Venminder
    12.12 Riskpro
    12.13 ProcessUnity, Inc

Continued….

Complete Report Details @ https://www.marketresearchfuture.com/reports/third-party-risk-management-market-8720

About Market Research Future:
Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.

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