Global Third-Party Risk Management Market to Reach $21.4 Billion by 2030
The global market for Third-Party Risk Management estimated at US$8 Billion in the year 2023, is expected to reach US$21.4 Billion by 2030, growing at a CAGR of 15.2% over the period 2023-2030. Third-Party Risk Management Solutions, one of the segments analyzed in the report, is expected to record 14.4% CAGR and reach US$12.4 Billion by the end of the analysis period. Growth in the Third-Party Risk Management Services segment is estimated at 16.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.1 Billion, While China is Forecast to Grow at 19.5% CAGR
The Third-Party Risk Management market in the U.S. is estimated at US$2.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.4 Billion by the year 2030 trailing a CAGR of 19.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.4% and 12.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 11.5% CAGR.
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