How big is the Vendor Risk Management Market?

The Vendor Risk Management Market size is expected to reach USD 11.98 billion in 2024 and grow at a CAGR of greater than 12.5% to reach USD 21.59 billion by 2029. Read More

What is the current Vendor Risk Management Market size?

In 2024, the Vendor Risk Management Market size is expected to reach USD 11.98 billion. Read More

Who are the key players in Vendor Risk Management Market?

RSA Security LLC, IBM Corporation, Genpact Limited, LockPath and SAI Global are the major companies operating in the Vendor Risk Management Market. Read More

Which is the fastest growing region in Vendor Risk Management Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Vendor Risk Management Market?

In 2024, the Asia Pacific accounts for the largest market share in Vendor Risk Management Market. Read More

What years does this Vendor Risk Management Market cover, and what was the market size in 2023?

In 2023, the Vendor Risk Management Market size was estimated at USD 10.65 billion. The report covers the Vendor Risk Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vendor Risk Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Vendor Risk Management Market - Size, Companies & Forecast

Vendor Risk Management Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Vendor Risk Management Market Share and it is segmented by Type (Solution, Services), Deployment Mode (Cloud, On-Premises), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), End-user Industry (Banking, Financial Services, and Insurance, Telecom and IT, Manufacturing) and Geography(North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Vendor Risk Management Industry Overview

The market for vendor risk management is semi-consolidated as few established players in the market have gained the majority of the market share and thus are highly competitive. The huge initial investment and capability to cope with the rapidly changing technology have made it difficult for new vendors to enter the market.

November 2023 - Mertic Stream has announced a cloud GRC solution powered by MetricStream CyberGRC and AWS Audit Manager from Amazon Web Services (AWS), MetricStream’s new cloud GRC solution is designed to provide customers with the ability to centrally manage risks, compliance standards, frameworks, and controls, and provides automated evidence gathering and assessments across on-premises and AWS environments.
August 2022 - The most recent version of Prevalent, Inc.'s Third-Party Risk Management Platform was launched. Automated document analysis and customized dashboards are introduced in version 3.28 to expedite and streamline vendor management throughout the third-party lifecycle and the examination of supporting documentation.