Global Third-Party Risk Management Market 2024-2028

Global Third-Party Risk Management Market 2024-2028

The third-party risk management market is forecasted to grow by USD 7.42 bn during 2023-2028, accelerating at a CAGR of 16.76% during the forecast period. The report on the third-party risk management market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by benefits associated with third-party risk management, rise in adoption of cloud-based third-party risk management, and exponential growth in corporate data.

Technavio's third-party risk management market is segmented as below:

By Component

• Solution
• Service

By Deployment

• Cloud
• On-premises

By Geographical Landscape

• North America
• Europe
• APAC
• South America
• Middle East and Africa

This study identifies the integration of artificial intelligence and machine learning in third-party risk management software solutions as one of the prime reasons driving the third-party risk management market growth during the next few years. Also, growing data security and cybersecurity concerns and rise of third-party risk scoring will lead to sizable demand in the market.

The report on the third-party risk management market covers the following areas:

• Third-party risk management market sizing
• Third-party risk management market forecast
• Third-party risk management market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading third-party risk management market vendors that include Aravo Solutions Inc., BitSight Technologies Inc., Dell Technologies Inc., Deloitte Touche Tohmatsu Ltd., Diligent Corp., Ernst and Young Global Ltd., Genpact Ltd., iMedX Inc., KPMG International Ltd., Kroll LLC, MetricStream Inc., NAVEX Global Inc., OneTrust LLC, Optiv Security Inc., PricewaterhouseCoopers LLP, ProcessUnity Inc., Rapid Ratings International Inc., Riskpro India Ventures Pvt. Ltd., SAI Global Pty. Ltd., and Venminder Inc.. Also, the third-party risk management market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.