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 - Product Image

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

  • ID: 4464796
  • Report
  • Region: Global
  • 124 Pages
  • Markets and Markets
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The Vendor Risk Management Market Size is Expected to Grow from USD 3.29 Billion in 2017 to USD 6.50 Billion By 2022, at an Estimated CAGR of 14.6%

FEATURED COMPANIES

  • Genpact
  • LockPath
  • MetricStream
  • Optiv
  • Quantivate
  • Resolver
  • MORE

“Vendor risk management market is projected to grow at a CAGR of 14.6% during the forecast period”

An increasing need for managing complex third-party ecosystem, the fast-changing regulations across different geographies, and the need to correctly monitor and analyze vendor performance at various stages of supply chain are driving the vendor risk management market. The major restraining factor for the growth of the market is many organizations’ dependence on non-formal and manual process to assess vendor risks.

“Compliance management solution is expected to hold the major market size during the forecast period”

The compliance management solution segment is expected to dominate the vendor risk management solutions segment in 2017. The solutions have been in high demand in the highly regulated industry verticals, such as BFSI and healthcare and life sciences, where the companies are dependent on various vendors to carry out their critical operations. The compliance management solutions help companies maintain the mutually agreed terms and conditions for business processes, thus ensuring enterprises to reduce the risks associated with their third-party vendors.

“Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period”

The SMEs segment is expected to grow at a higher CAGR during the forecast period. SMEs often prefer to form partnerships with multiple vendors to serve their business objectives, as SMEs lack the in-house resource pool. With the increasing need to partner with different vendors across geographies, it becomes essential for SMEs to ensure and mitigate the critical risks associated with their vendors. Cloud-based vendor risk management solutions have played a vital role in exploring opportunities in SMEs. Due to the limited budget, SMEs mostly prefer cloud-based solutions over on-premises solutions, and this adoption trend is expected to accelerate in the years to come, enabling the cloud deployment type to have a considerable market size during the forecast period.

“Asia Pacific (APAC) is expected to have high growth potential during the forecast period”

North America is estimated to hold the largest market share in 2017, while APAC is expected to grow at the highest CAGR. APAC is expected to be a lucrative market for vendor risk management market during the forecast period, considering the untapped opportunities and increasing commercial investment in different industry verticals in the region. Multinational companies have been emphasizing on exploring the APAC market by entering the region through partnerships with local companies, channel partners, and technology partners. This is expected to provide growth opportunities for vendor risk management vendors during the forecast period.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people. The break-up of profiles of primary participants is given below as:

  • By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
  • By Designation: C-level - 35%, D-level - 25%, and Others - 40%
  • By Region: North America - 45%, Europe - 20%, APAC - 30%, and RoW - 5%

The vendor risk management ecosystem comprises major vendors, such as 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).

Research Coverage

The vendor risk management market has been segmented by component, deployment, organization size, vertical, and region. The report will help market leaders/new entrants in this market in the following ways:

The report segments the vendor risk management market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments. The market numbers are further split across different verticals and regions.

Reasons to Buy the Report

From an insight perspective, this research report focuses on various levels of analysis - market share analysis of the top players and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the vendor risk management market; and high-growth regions and their respective drivers, restraints, challenges, and opportunities.

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering a greater market share.

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FEATURED COMPANIES

  • Genpact
  • LockPath
  • MetricStream
  • Optiv
  • Quantivate
  • Resolver
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Vendor Risk Management Market
4.2 Vendor Risk Management Market, By Component
4.3 Vendor Risk Management Market, By Deployment Type
4.4 Vendor Risk Management Market, By Organization Size
4.5 Vendor Risk Management Market, Top 3 Industry Verticals and Regions

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Need for the Efficient Management of Complex Vendor Ecosystems
5.2.1.2 Automated Questionnaire Generation and Vendor Selection
5.2.1.3 View the Risk Levels Associated With Various Tasks
5.2.2 Restraints
5.2.2.1 Dependence on Non-Formal and Manual Processes By Many Organizations
5.2.3 Opportunities
5.2.3.1 Streamline the Vendor Risk Assessment Process
5.2.3.2 Better Financial and Compliance Control
5.2.4 Challenges
5.2.4.1 Penetration in Highly Regulated Industries
5.2.4.2 Solution Integration With Other Applications
5.3 Vendor Risk Management: Use Cases
5.3.1 Use Case #1
5.3.2 Use Case #2

6 Vendor Risk Management Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Vendor Information Management
6.2.2 Contract Management
6.2.3 Financial Control
6.2.4 Compliance Management
6.2.5 Audit Management
6.2.6 Quality Assurance Management
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting
6.3.1.2 Support and Maintenance
6.3.1.3 Deployment and Integration
6.3.2 Managed Services

7 Vendor Risk Management Market, By Deployment Type
7.1 Introduction
7.2 On-Premises
7.3 Cloud

8 Vendor Risk Management Market, By Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.3 Large Enterprises

9 Vendor Risk Management Market, By Industry Vertical
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.3 Telecom and IT
9.4 Manufacturing
9.5 Consumer Goods and Retail
9.6 Government
9.7 Healthcare and Life Sciences
9.8 Energy and Utilities
9.9 Others

10 Vendor Risk Management Market, By Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Middle East and Africa
10.6 Latin America

11 Competitive Landscape
11.1 Overview
11.2 Market Ranking
11.3 Competitive Scenario
11.3.1 New Product Launches/Upgradations
11.3.2 Business Expansions
11.3.3 Acquisitions
11.3.4 Partnerships

12 Company Profiles
12.1 Bitsight Technologies
(Business Overview, Solutions and Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
12.2 RSA
12.3 Genpact
12.4 LockPath
12.5 MetricStream
12.6 Nasdaq BWise
12.7 Resolver
12.8 SAI Global
12.9 Rsam
12.10 IBM
12.11 Optiv
12.12 Quantivate
12.13 RapidRatings
*Details on Business Overview, Solutions and Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
12.14 Key Innovators
12.14.1 Processunity
12.14.2 Logicmanager
12.14.3 Vendorinsight

13 Appendix
13.1 Discussion Guide
13.2 Knowledge Store: Subscription Portal
13.3 Introducing RT: Real Time Market Intelligence
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details

List of Tables (71 Tables)
Table 1 United States Dollar Exchange Rate
Table 2 Vendor Risk Management Market Size, By Component, 2015-2022 (USD Million)
Table 3 Solutions: Vendor Risk Management Market Size, By Type, 2015-2022 (USD Million)
Table 4 Vendor Information Management Market Size, By Region, 2015-2022 (USD Million)
Table 5 Contract Management Market Size, By Region, 2015-2022 (USD Million)
Table 6 Financial Control Market Size, By Region, 2015-2022 (USD Million)
Table 7 Compliance Management Market Size, By Region, 2015-2022 (USD Million)
Table 8 Audit Management Market Size, By Region, 2015-2022 (USD Million)
Table 9 Quality Assurance Management Market Size, By Region, 2015-2022 (USD Million)
Table 10 Services: Vendor Risk Management Market Size, By Type, 2015-2022 (USD Million)
Table 11 Professional Services Market Size, By Type, 2015-2022 (USD Million)
Table 12 Consulting Market Size, By Region, 2015-2022 (USD Million)
Table 13 Support and Maintenance Market Size, By Region, 2015-2022 (USD Million)
Table 14 Deployment and Integration Market Size, By Region, 2015-2022 (USD Million)
Table 15 Managed Services Market Size, By Region, 2015-2022 (USD Million)
Table 16 Vendor Risk Management Market Size, By Deployment Type, 2015-2022 (USD Million)
Table 17 On-Premises: Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 18 Cloud: Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 19 Vendor Risk Management Market Size, By Organization Size, 2015-2022 (USD Million)
Table 20 Small and Medium-Sized Enterprises: Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 21 Large Enterprises: Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 22 Vendor Risk Management Market Size, By Industry Vertical, 2015-2022 (USD Million)
Table 23 Banking, Financial Services, and Insurance: Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 24 Telecom and IT: Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 25 Manufacturing: Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 26 Consumer Goods and Retail: Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 27 Government: Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 28 Healthcare and Life Sciences: Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 29 Energy and Utilities: Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 30 Others: Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 31 Vendor Risk Management Market Size, By Region, 2015-2022 (USD Million)
Table 32 North America: Vendor Risk Management Market Size, By Component, 2015-2022 (USD Million)
Table 33 North America: Vendor Risk Management Market Size, By Solution, 2015-2022 (USD Million)
Table 34 North America: Vendor Risk Management Market Size, By Service, 2015-2022 (USD Million)
Table 35 North America: Vendor Risk Management Market Size, By Professional Service, 2015-2022 (USD Million)
Table 36 North America: Vendor Risk Management Market Size, By Deployment Type, 2015-2022 (USD Million)
Table 37 North America: Vendor Risk Management Market Size, By Organization Size, 2015-2022 (USD Million)
Table 38 North America: Vendor Risk Management Market Size, By Industry Vertical, 2015-2022 (USD Million)
Table 39 Europe: Vendor Risk Management Market Size, By Component, 2015-2022 (USD Million)
Table 40 Europe: Vendor Risk Management Market Size, By Solution, 2015-2022 (USD Million)
Table 41 Europe: Vendor Risk Management Market Size, By Service, 2015-2022 (USD Million)
Table 42 Europe: Vendor Risk Management Market Size, By Professional Service, 2015-2022 (USD Million)
Table 43 Europe: Vendor Risk Management Market Size, By Deployment Type, 2015-2022 (USD Million)
Table 44 Europe: Vendor Risk Management Market Size, By Organization Size, 2015-2022 (USD Million)
Table 45 Europe: Vendor Risk Management Market Size, By Industry Vertical, 2015-2022 (USD Million)
Table 46 Asia Pacific: Vendor Risk Management Market Size, By Component, 2015-2022 (USD Million)
Table 47 Asia Pacific: Vendor Risk Management Market Size, By Solution, 2015-2022 (USD Million)
Table 48 Asia Pacific: Vendor Risk Management Market Size, By Service, 2015-2022 (USD Million)
Table 49 Asia Pacific: Vendor Risk Management Market Size, By Professional Service, 2015-2022 (USD Million)
Table 50 Asia Pacific: Vendor Risk Management Market Size, By Deployment Type, 2015-2022 (USD Million)
Table 51 Asia Pacific: Vendor Risk Management Market Size, By Organization Size, 2015-2022 (USD Million)
Table 52 Asia Pacific: Vendor Risk Management Market Size, By Industry Vertical, 2015-2022 (USD Million)
Table 53 Middle East and Africa: Vendor Risk Management Market Size, By Component, 2015-2022 (USD Million)
Table 54 Middle East and Africa: Vendor Risk Management Market Size, By Solution, 2015-2022 (USD Million)
Table 55 Middle East and Africa: Vendor Risk Management Market Size, By Service, 2015-2022 (USD Million)
Table 56 Middle East and Africa: Vendor Risk Management Market Size, By Professional Service, 2015-2022 (USD Million)
Table 57 Middle East and Africa: Vendor Risk Management Market Size, By Deployment Type, 2015-2022 (USD Million)
Table 58 Middle East and Africa: Vendor Risk Management Market Size, By Organization Size, 2015-2022 (USD Million)
Table 59 Middle East and Africa: Vendor Risk Management Market Size, By Industry Vertical, 2015-2022 (USD Million)
Table 60 Latin America: Vendor Risk Management Market Size, By Component, 2015-2022 (USD Million)
Table 61 Latin America: Vendor Risk Management Market Size, By Solution, 2015-2022 (USD Million)
Table 62 Latin America: Vendor Risk Management Market Size, By Service, 2015-2022 (USD Million)
Table 63 Latin America: Vendor Risk Management Market Size, By Professional Service, 2015-2022 (USD Million)
Table 64 Latin America: Vendor Risk Management Market Size, By Deployment Type, 2015-2022 (USD Million)
Table 65 Latin America: Vendor Risk Management Market Size, By Organization Size, 2015-2022 (USD Million)
Table 66 Latin America: Vendor Risk Management Market Size, By Industry Vertical, 2015-2022 (USD Million)
Table 67 Market Ranking for the Vendor Risk Management Market, 2017
Table 68 New Product Launches/Upgradations, 2015-2017
Table 69 Business Expansions, 2017
Table 70 Acquisitions, 2016-2017
Table 71 Partnerships, 2015-2017

List of Figures (29 Figures)
Figure 1 Vendor Risk Management Market: Market Segmentation
Figure 2 Vendor Risk Management Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Vendor Risk Management Market: Assumptions
Figure 8 Top 3 Segments With the Largest Market Shares in 2017
Figure 9 Vendor Risk Management Market: Regional Snapshot
Figure 10 Increased Need for the Efficient Management of Complex Vendor Ecosystems is Expected to Drive the Vendor Risk Management Market Growth
Figure 11 Services Segment is Expected to Dominate the Vendor Risk Management Market During the Forecast Period
Figure 12 Cloud Deployment Type is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 13 Small and Medium-Sized Enterprises Segment is Expected Register A Higher CAGR During the Forecast Period
Figure 14 Banking, Financial Services, and Insurance Industry Vertical, and North America are Estimated to Dominate the Vendor Risk Management Market in 2017
Figure 15 Vendor Risk Management Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 17 Financial Control Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 18 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 19 Support and Maintenance Segment is Expected to Have the Highest CAGR During the Forecast Period
Figure 20 Cloud Deployment Type is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 21 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 22 Healthcare and Life Sciences Industry Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 23 North America is Expected to Have the Largest Market Size During the Forecast Period
Figure 24 North America: Market Snapshot
Figure 25 Asia Pacific: Market Snapshot
Figure 26 Key Developments By the Leading Players in the Vendor Risk Management Market, 2015-2017
Figure 27 Market Evaluation Framework
Figure 28 Genpact: Company Snapshot
Figure 29 IBM: SWOT Analysis

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  • Genpact
  • IBM
  • LockPath
  • Logicmanager
  • MetricStream
  • Nasdaq BWise
  • Optiv
  • Processunity
  • Quantivate
  • RSA
  • RapidRatings
  • Resolver
  • Rsam
  • SAI Global
  • Vendorinsight
Note: Product cover images may vary from those shown
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