Vendor Risk Management Market to Registerp

Rhea
Rhea 3/3/2020 1:47:39 PM

Vendor Risk Management Market to Register Remarkable Growth By 2022


Vendor
Risk Management Market
report by MarketsandMarkets™
provides well-organized statistical overview on the basis of trends, market
share, applications, growth factors & forecast.

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- Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=227642142

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.

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.

Speak
to Research Expert @
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=227642142

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).

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Content
Source
: https://www.marketsandmarkets.com/PressReleases/vendor-risk-management.asp

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