The Latin America, Middle East and Africa Vendor Risk Management Market would witness market growth of 17.7% CAGR during the forecast period (2022-2028).
Vendors and third-party suppliers are responsible for roughly two-thirds of security breaches, according to statistics. Cyber security risks, ransomware intrusions, rising disinformation efforts, and other data privacy issues are prompting businesses to seek risk mitigation solutions, such as vendor risk management, which is driving the market. Furthermore, supervising the operations of various vendors appears to be a time-consuming task for many enterprises around the world. As a result, using vendor risk management solutions enables them to assess vendor risks, identify major issues, and greatly increase the production rate.
To strengthen their position in the international VRM market, top suppliers are focused on developing new solutions and services while also improving their present product range. One of the solution providers, LockPath, for example, integrated its Keylight Platform with Security Scorecard's security rating platform in November 2017.
Brazil, which is predominantly located in the Southern Hemisphere, has the Western Hemisphere's second-largest economy (US$1.45 trillion in 2020) and population (211 million inhabitants). Brazil's geographical expanse is larger than the continental United States, and the economic climate varies greatly from region to region. Over the next few years, Brazil's manufacturing competitiveness is likely to improve.
The Brazil market dominated the LAMEA Vendor Risk Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $340.4 million by 2028. The Argentina market is experiencing a CAGR of 18.4% during (2022 - 2028). Additionally, The UAE market is exhibiting a CAGR of 17.4% during (2022 - 2028).
Based on End-use, the market is segmented into Manufacturing, BFSI, Telecom & IT, Retail & Consumer Goods, Healthcare, Energy & Utilities, Government, and Others. Based on Deployment, the market is segmented into Cloud and On-premises. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Solution, the market is segmented into Financial Control, Compliance Management, Contract Management, Vendor Information Management, Quality Assurance Management, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Vendor Risk Management Market is Predict to reach $17.5 Billion by 2028, at a CAGR of 14.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BitSight Technologies, Inc., RSA Security LLC (Symphony Technology Group), Genpact Limited, NAVEX Global, Inc. (Lockpath), MetricStream, Inc., Rapid Ratings International, Inc., Quantivate, Inc., SAI Global Pty Limited (Intertek Group plc), ProcessUnity, Inc., Optiv Security, Inc.
Scope of the Study
Market Segments Covered in the Report:
By End-use
- Manufacturing
- BFSI
- Telecom & IT
- Retail & Consumer Goods
- Healthcare
- Energy & Utilities
- Government
- Others
By Deployment
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Solution
- Financial Control
- Compliance Management
- Contract Management
- Vendor Information Management
- Quality Assurance Management
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- BitSight Technologies, Inc.
- RSA Security LLC (Symphony Technology Group)
- Genpact Limited
- NAVEX Global, Inc. (Lockpath)
- MetricStream, Inc.
- Rapid Ratings International, Inc.
- Quantivate, Inc.
- SAI Global Pty Limited (Intertek Group plc)
- ProcessUnity, Inc.
- Optiv Security, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Vendor Risk Management Market, by End-use
1.4.2 LAMEA Vendor Risk Management Market, by Deployment
1.4.3 LAMEA Vendor Risk Management Market, by Organization Size
1.4.4 LAMEA Vendor Risk Management Market, by Solution
1.4.5 LAMEA Vendor Risk Management Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2019, Mar – 2022, May) Leading Players
Chapter 4. LAMEA Vendor Risk Management Market by End-use
4.1 LAMEA Manufacturing Market by Country
4.2 LAMEA BFSI Market by Country
4.3 LAMEA Telecom & IT Market by Country
4.4 LAMEA Retail & Consumer Goods Market by Country
4.5 LAMEA Healthcare Market by Country
4.6 LAMEA Energy & Utilities Market by Country
4.7 LAMEA Government Market by Country
4.8 LAMEA Other End-use Market by Country
Chapter 5. LAMEA Vendor Risk Management Market by Deployment
5.1 LAMEA Cloud Market by Country
5.2 LAMEA On-premises Market by Country
Chapter 6. LAMEA Vendor Risk Management Market by Organization Size
6.1 LAMEA Large Enterprises Market by Country
6.2 LAMEA Small & Medium Enterprises Market by Country
Chapter 7. LAMEA Vendor Risk Management Market by Solution
7.1 LAMEA Financial Control Market by Country
7.2 LAMEA Compliance Management Market by Country
7.3 LAMEA Contract Management Market by Country
7.4 LAMEA Vendor Information Management Market by Country
7.5 LAMEA Quality Assurance Management Market by Country
7.6 LAMEA Others Market by Country
Chapter 8. LAMEA Vendor Risk Management Market by Country
8.1 Brazil Vendor Risk Management Market
8.1.1 Brazil Vendor Risk Management Market by End-use
8.1.2 Brazil Vendor Risk Management Market by Deployment
8.1.3 Brazil Vendor Risk Management Market by Organization Size
8.1.4 Brazil Vendor Risk Management Market by Solution
8.2 Argentina Vendor Risk Management Market
8.2.1 Argentina Vendor Risk Management Market by End-use
8.2.2 Argentina Vendor Risk Management Market by Deployment
8.2.3 Argentina Vendor Risk Management Market by Organization Size
8.2.4 Argentina Vendor Risk Management Market by Solution
8.3 UAE Vendor Risk Management Market
8.3.1 UAE Vendor Risk Management Market by End-use
8.3.2 UAE Vendor Risk Management Market by Deployment
8.3.3 UAE Vendor Risk Management Market by Organization Size
8.3.4 UAE Vendor Risk Management Market by Solution
8.4 Saudi Arabia Vendor Risk Management Market
8.4.1 Saudi Arabia Vendor Risk Management Market by End-use
8.4.2 Saudi Arabia Vendor Risk Management Market by Deployment
8.4.3 Saudi Arabia Vendor Risk Management Market by Organization Size
8.4.4 Saudi Arabia Vendor Risk Management Market by Solution
8.5 South Africa Vendor Risk Management Market
8.5.1 South Africa Vendor Risk Management Market by End-use
8.5.2 South Africa Vendor Risk Management Market by Deployment
8.5.3 South Africa Vendor Risk Management Market by Organization Size
8.5.4 South Africa Vendor Risk Management Market by Solution
8.6 Nigeria Vendor Risk Management Market
8.6.1 Nigeria Vendor Risk Management Market by End-use
8.6.2 Nigeria Vendor Risk Management Market by Deployment
8.6.3 Nigeria Vendor Risk Management Market by Organization Size
8.6.4 Nigeria Vendor Risk Management Market by Solution
8.7 Rest of LAMEA Vendor Risk Management Market
8.7.1 Rest of LAMEA Vendor Risk Management Market by End-use
8.7.2 Rest of LAMEA Vendor Risk Management Market by Deployment
8.7.3 Rest of LAMEA Vendor Risk Management Market by Organization Size
8.7.4 Rest of LAMEA Vendor Risk Management Market by Solution
Chapter 9. Company Profiles
9.1 Genpact Limited
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Recent strategies and developments:
9.1.4.1 Partnerships, Collaborations, and Agreements:
9.1.4.2 Acquisition and Mergers:
9.2 BitSight Technologies, Inc.
9.2.1 Company Overview
9.2.2 Recent strategies and developments:
9.2.2.1 Partnerships, Collaborations, and Agreements:
9.3 RSA Security LLC (Symphony Technology Group)
9.3.1 Company Overview
9.3.2 Recent strategies and developments:
9.3.2.1 Partnerships, Collaborations, and Agreements:
9.3.2.2 Product Launches and Product Expansions:
9.4 NAVEX Global, Inc. (Lockpath)
9.4.1 Company Overview
9.4.2 Recent strategies and developments:
9.4.2.1 Product Launches and Product Expansions:
9.4.2.2 Acquisition and Mergers:
9.5 Rapid Ratings International, Inc.
9.5.1 Company Overview
9.5.2 Recent strategies and developments:
9.5.2.1 Partnerships, Collaborations, and Agreements:
9.6 Quantivate, Inc.
9.6.1 Company Overview
9.6.2 Recent strategies and developments:
9.6.2.1 Product Launches and Product Expansions:
9.7 SAI Global Pty Limited (Intertek Group plc)
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental and Regional Analysis
9.7.4 Research & Development Expenses
9.7.5 Recent strategies and developments:
9.7.5.1 Partnerships, Collaborations, and Agreements:
9.7.5.2 Acquisition and Mergers:
9.8 ProcessUnity, Inc.
9.8.1 Company Overview
9.8.2 Recent strategies and developments:
9.8.2.1 Partnerships, Collaborations, and Agreements:
9.8.2.2 Product Launches and Product Expansions:
9.9 Optiv Security, Inc.
9.9.1 Company Overview
9.9.2 Recent strategies and developments:
9.9.2.1 Product Launches and Product Expansions:
9.10. MetricStream, Inc.
9.10.1 Company Overview
9.10.2 Recent strategies and developments:
9.10.2.1 Partnerships, Collaborations, and Agreements:
9.10.2.2 Product Launches and Product Expansions:
TABLE 1 LAMEA Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 2 LAMEA Vendor Risk Management Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Vendor Risk Management Market
TABLE 4 Product Launches And Product Expansions– Vendor Risk Management Market
TABLE 5 Acquisition and Mergers– Vendor Risk Management Market
TABLE 6 LAMEA Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 7 LAMEA Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 8 LAMEA Manufacturing Market by Country, 2018 - 2021, USD Million
TABLE 9 LAMEA Manufacturing Market by Country, 2022 - 2028, USD Million
TABLE 10 LAMEA BFSI Market by Country, 2018 - 2021, USD Million
TABLE 11 LAMEA BFSI Market by Country, 2022 - 2028, USD Million
TABLE 12 LAMEA Telecom & IT Market by Country, 2018 - 2021, USD Million
TABLE 13 LAMEA Telecom & IT Market by Country, 2022 - 2028, USD Million
TABLE 14 LAMEA Retail & Consumer Goods Market by Country, 2018 - 2021, USD Million
TABLE 15 LAMEA Retail & Consumer Goods Market by Country, 2022 - 2028, USD Million
TABLE 16 LAMEA Healthcare Market by Country, 2018 - 2021, USD Million
TABLE 17 LAMEA Healthcare Market by Country, 2022 - 2028, USD Million
TABLE 18 LAMEA Energy & Utilities Market by Country, 2018 - 2021, USD Million
TABLE 19 LAMEA Energy & Utilities Market by Country, 2022 - 2028, USD Million
TABLE 20 LAMEA Government Market by Country, 2018 - 2021, USD Million
TABLE 21 LAMEA Government Market by Country, 2022 - 2028, USD Million
TABLE 22 LAMEA Other End-use Market by Country, 2018 - 2021, USD Million
TABLE 23 LAMEA Other End-use Market by Country, 2022 - 2028, USD Million
TABLE 24 LAMEA Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 25 LAMEA Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 26 LAMEA Cloud Market by Country, 2018 - 2021, USD Million
TABLE 27 LAMEA Cloud Market by Country, 2022 - 2028, USD Million
TABLE 28 LAMEA On-premises Market by Country, 2018 - 2021, USD Million
TABLE 29 LAMEA On-premises Market by Country, 2022 - 2028, USD Million
TABLE 30 LAMEA Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 31 LAMEA Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 32 LAMEA Large Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 33 LAMEA Large Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 34 LAMEA Small & Medium Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 35 LAMEA Small & Medium Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 36 LAMEA Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 37 LAMEA Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 38 LAMEA Financial Control Market by Country, 2018 - 2021, USD Million
TABLE 39 LAMEA Financial Control Market by Country, 2022 - 2028, USD Million
TABLE 40 LAMEA Compliance Management Market by Country, 2018 - 2021, USD Million
TABLE 41 LAMEA Compliance Management Market by Country, 2022 - 2028, USD Million
TABLE 42 LAMEA Contract Management Market by Country, 2018 - 2021, USD Million
TABLE 43 LAMEA Contract Management Market by Country, 2022 - 2028, USD Million
TABLE 44 LAMEA Vendor Information Management Market by Country, 2018 - 2021, USD Million
TABLE 45 LAMEA Vendor Information Management Market by Country, 2022 - 2028, USD Million
TABLE 46 LAMEA Quality Assurance Management Market by Country, 2018 - 2021, USD Million
TABLE 47 LAMEA Quality Assurance Management Market by Country, 2022 - 2028, USD Million
TABLE 48 LAMEA Others Market by Country, 2018 - 2021, USD Million
TABLE 49 LAMEA Others Market by Country, 2022 - 2028, USD Million
TABLE 50 LAMEA Vendor Risk Management Market by Country, 2018 - 2021, USD Million
TABLE 51 LAMEA Vendor Risk Management Market by Country, 2022 - 2028, USD Million
TABLE 52 Brazil Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 53 Brazil Vendor Risk Management Market, 2022 - 2028, USD Million
TABLE 54 Brazil Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 55 Brazil Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 56 Brazil Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 57 Brazil Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 58 Brazil Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 59 Brazil Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 60 Brazil Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 61 Brazil Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 62 Argentina Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 63 Argentina Vendor Risk Management Market, 2022 - 2028, USD Million
TABLE 64 Argentina Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 65 Argentina Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 66 Argentina Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 67 Argentina Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 68 Argentina Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 69 Argentina Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 70 Argentina Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 71 Argentina Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 72 UAE Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 73 UAE Vendor Risk Management Market, 2022 - 2028, USD Million
TABLE 74 UAE Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 75 UAE Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 76 UAE Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 77 UAE Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 78 UAE Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 79 UAE Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 80 UAE Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 81 UAE Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 82 Saudi Arabia Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 83 Saudi Arabia Vendor Risk Management Market, 2022 - 2028, USD Million
TABLE 84 Saudi Arabia Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 85 Saudi Arabia Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 86 Saudi Arabia Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 87 Saudi Arabia Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 88 Saudi Arabia Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 89 Saudi Arabia Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 90 Saudi Arabia Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 91 Saudi Arabia Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 92 South Africa Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 93 South Africa Vendor Risk Management Market, 2022 - 2028, USD Million
TABLE 94 South Africa Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 95 South Africa Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 96 South Africa Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 97 South Africa Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 98 South Africa Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 99 South Africa Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 100 South Africa Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 101 South Africa Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 102 Nigeria Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 103 Nigeria Vendor Risk Management Market, 2022 - 2028, USD Million
TABLE 104 Nigeria Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 105 Nigeria Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 106 Nigeria Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 107 Nigeria Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 108 Nigeria Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 109 Nigeria Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 110 Nigeria Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 111 Nigeria Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 112 Rest of LAMEA Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 113 Rest of LAMEA Vendor Risk Management Market, 2022 - 2028, USD Million
TABLE 114 Rest of LAMEA Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 115 Rest of LAMEA Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 116 Rest of LAMEA Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 117 Rest of LAMEA Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 118 Rest of LAMEA Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 119 Rest of LAMEA Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 120 Rest of LAMEA Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 121 Rest of LAMEA Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 122 Key Information – Genpact Limited
TABLE 123 Key Information – BitSight Technologies, Inc.
TABLE 124 Key Information – RSA Security LLC
TABLE 125 Key Information – NAVEX Global, Inc.
TABLE 126 Key Information – Rapid Ratings International, Inc.
TABLE 127 Key Information – Quantivate, Inc.
TABLE 128 Key Information – SAI Global Pty Limited
TABLE 129 Key Information – ProcessUnity, Inc.
TABLE 130 Key Information – Optiv Security, Inc.
TABLE 131 Key Information – MetricStream, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions : 2019, Mar – 2022, May) Leading Players
FIG 5 Recent strategies and developments: RSA Security LLC
FIG 6 Recent strategies and developments: NAVEX Global, Inc.
FIG 7 Recent strategies and developments: ProcessUnity, Inc.
FIG 8 Recent strategies and developments: MetricStream, Inc.