According to HTF Market Intelligence, the Third-Party Risk Management market to witness a CAGR of 18.4% during the forecast period (2024-2030).The Latest published a market study on Global Third-Party Risk Management Market provides an overview of the current market dynamics in the Global Third-Party Risk Management space, as well as what our survey respondents- all outsourcing decision-makers- predict the market will look like in 2030. The study breaks the market by revenue and volume (wherever applicable) and price history to estimate the size and trend analysis and identify gaps and opportunities.
Some of the players that are in coverage of the study are MetricStream (United States), RSA Security (United States), IBM (United States), Optiv (United States), Navex Global (United States), Resolver (Canada), Genpact (United States), Deloitte (United Kingdom), Pwc (United Kingdom), Kpmg (Netherlands) are some of the key players that are part of study coverage. Additionally, the players who are also part of the research coverage are Ey (United Kingdom), Processunity (United States), BitSight Technologies (United States), Rapid ratings (United States), Aravo Solutions (United States).
The global Third-Party Risk Management market size is expanding at robust growth of 18.4%, sizing up market trajectory from USD 6.7 Billion in 2024 to USD 25.9 Billion by 2030.
Get ready to identify the pros and cons of the regulatory framework, local reforms, and its impact on the Industry. Know how Leaders in Global Third-Party Risk Management are keeping themselves one step forward with our latest survey analysis
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Definition
The Third-Party Risk Management (TPRM) market encompasses the range of services, software, and processes employed by organizations to assess, monitor, and manage risks associated with their interactions with external entities, such as suppliers, vendors, contractors, and service providers. The goal is to mitigate risks that could potentially impact an organization’s operations, reputation, legal compliance, and financial health.
In February 2023, Aravo Solutions launched a new AI-powered feature for its TPRM platform, aimed at improving risk assessment and streamlining compliance processes for its users. This development leverages machine learning to provide more accurate risk predictions and actionable insights.
Basic Segmentation Details
Global Third-Party Risk Management Market Breakdown by By Solution (Financial Control Management, Contract Management, Operational Risk Management, Audit Management, Compliance Management, Others) by By Service (Consulting, Integration and Design, Support and Maintenance) by By Verticals (BFSI, IT and Telecom, Healthcare and Life Sciences, Government, Defense, and Aerospace, Retail and Consumer Goods, Manufacturing, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Third-Party Risk Management Market Driver
- Increased supply chain complexity and outsourcing, heightened regulatory environment, cyber security threats, corporate social responsibility, and ethical sourcing
Third-Party Risk Management Market Opportunity
- Expanding the scope of third-party relationships, technological advancements, supply chain resilience, and business continuity
Third-Party Risk Management Market Challenges
- Dynamic threat landscape, talent shortage, complexity of risk assessment and management, and organizational resistance to change
Major Highlights of the Third-Party Risk Management Market report released by HTF MI
Global Third-Party Risk Management Market Breakdown by By Solution (Financial Control Management, Contract Management, Operational Risk Management, Audit Management, Compliance Management, Others) by By Service (Consulting, Integration and Design, Support and Maintenance) by By Verticals (BFSI, IT and Telecom, Healthcare and Life Sciences, Government, Defense, and Aerospace, Retail and Consumer Goods, Manufacturing, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Global Third-Party Risk Management market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.
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Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America (United States, Mexico & Canada)
- South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Objectives of the Report
- To carefully analyze and forecast the size of the Third-Party Risk Management market by value and volume.
- To estimate the market shares of major segments of the Third-Party Risk Management
- To showcase the development of the Third-Party Risk Management market in different parts of the world.
- To analyze and study micro-markets in terms of their contributions to the Third-Party Risk Management market, their prospects, and individual growth trends.
- To offer precise and useful details about factors affecting the growth of the Third-Party Risk Management
- To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Third-Party Risk Management market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
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Major highlights from Table of Contents:
Third-Party Risk Management Market Study Coverage:
- It includes major manufacturers, emerging player’s growth story, and major business segments of Third-Party Risk Management market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
- Third-Party Risk Management Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
- Third-Party Risk Management Market Production by Region Third-Party Risk Management Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
- Key Points Covered in Third-Party Risk Management Market Report:
- Third-Party Risk Management Overview, Definition and Classification Market drivers and barriers
- Third-Party Risk Management Market Competition by Manufacturers
- Third-Party Risk Management Capacity, Production, Revenue (Value) by Region (2024-2030)
- Third-Party Risk Management Supply (Production), Consumption, Export, Import by Region (2024-2030)
- Third-Party Risk Management Production, Revenue (Value), Price Trend by Type {By Solution (Financial Control Management, Contract Management, Operational Risk Management, Audit Management, Compliance Management, Others)}
- Third-Party Risk Management Market Analysis by Application {By Service (Consulting, Integration and Design, Support and Maintenance)}
- Third-Party Risk Management Manufacturers Profiles/Analysis Third-Party Risk Management Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
- Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.
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Key questions answered
- How feasible is Third-Party Risk Management market for long-term investment?
- What are influencing factors driving the demand for Third-Party Risk Management near future?
- What is the impact analysis of various factors in the Global Third-Party Risk Management market growth?
- What are the recent trends in the regional market and how successful they are?
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