Emergen Research has published a novel research report titled, “Global Vendor Risk Management Market Forecast to 2030”. The report sheds light on the current as well as upcoming market trends. The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Vendor Risk Management market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
The global Vendor Risk Management (VRM) market size was USD 5.11 Billion in 2021 and is expected to register a revenue CAGR of 14.4% during the forecast period, according to latest analysis by Emergen Research. Increasing number of third-party vendors in small and large organizations is the key factor driving market revenue growth.
VRM is more crucial than ever due to constantly changing threat landscape, as the focus is shifting from business to supplier or vendor. VRM aids in educating vendor and company about any hazards that could arise from the collaboration. Organizations are getting into agreements with third parties at a faster rate than ever before, either to software integration capabilities or cost savings of selective outsourcing.
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The report offers a complete analysis of the global Vendor Risk Management market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches. Key players are strategizing various plans such as MA acquisition, partnerships, joint ventures, license agreement and collaborations. BitSight Technologies, Inc., Genpact, MetricStream, SAI Global, IBM Corporation, Rapid Ratings International Inc., ProcessUnity, Inc., LogicManager, Inc., Aravo Solutions, Inc., ACL Services Ltd., Bitsight Technologies, and NAVEX Global, Inc.
The report also offers regional level analysis and market estimation for the regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Regional Outlook of Vendor Risk Management Market:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Emergen Research has segmented the global vendor risk management market based on technology, installation, application, material, system, and region, and region:
· Solution Outlook (Revenue, USD Billion; 2019-2030)
- Vendor Information Management
- Contract Management
- Compliance Management
- Financial Control
- Audit Management
- Quality Assurance Management
· Services Outlook (Revenue, USD Billion; 2019-2030)
- Professional Services
- Deployment and Integration
- Support and Maintenance
- Managed Services
· Deployment Outlook (Revenue, USD Billion; 2019-2030)
· Organization Size Outlook (Revenue, USD Billion; 2019-2030)
- Small and Medium-Sized Enterprises (SMEs)
- Large Enterprises
· End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Banking, Financial Services and Insurance (BFSI)
- Healthcare and Life Science
- IT Telecom
- Energy Utility
- Aerospace Defense
Key point summary of the report:
- The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
- It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
- It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
- Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
- The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
- The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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