The North America Vendor Risk Management Market would witness market growth of 14.2% CAGR during the forecast period (2022-2028).
To secure business continuity, support the entire supply chain process, and assure timely delivery of products and services to their consumers, large enterprises frequently rely on a large number of vendors. Assessing the various hazards and risks provided by vendors is necessary for resolving these crucial challenges. Vendor risk management systems prioritize each risk and streamline the organization's risk response activities. The selection of specialized activities is one of the prospects for the vendor risk management industry to expand. These solutions help ease the organization's efforts to limit the risks connected with vendor evaluation.
The uncertainty, probability, and impact of numerous threats to a company's bottom line and capacity to deliver goods and services on the schedule are the focus of vendor risk management. Companies can use risk management to plan for unanticipated hazards posed by third-party vendors and suppliers. VRM programs ensure that third-party products, IT suppliers, and service providers do not cause business disruption, financial loss, or reputational harm.
Various banks and financial organizations in the United States had data leaks in January 2019 as a result of a third-party vendor's error; the data leak was caused by Ascension misconfiguring a server where digital versions of paper financial documents were stored. As a result, a database with over 24 million credit reports containing sensitive client information might be accessed. Additionally, due to advanced technological developments in the fields of machine learning, AI, cloud, and IoT, growth of end-user industries such as healthcare, BFSI, and others, increasing levels of investments, and a growing emphasis on data security, the vendor risk management market in the region is proliferating.
The US market dominated the North America Vendor Risk Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,539.1 million by 2028. The Canada market would showcase a CAGR of 16.8% during (2022 - 2028). Additionally, The Mexico market is exhibiting a CAGR of 15.7% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Vendor Risk Management Market is Estimated 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
- US
- Canada
- Mexico
- Rest of North America
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 North America Vendor Risk Management Market, by End-use
1.4.2 North America Vendor Risk Management Market, by Deployment
1.4.3 North America Vendor Risk Management Market, by Organization Size
1.4.4 North America Vendor Risk Management Market, by Solution
1.4.5 North America 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. North America Vendor Risk Management Market by End-use
4.1 North America Manufacturing Market by Country
4.2 North America BFSI Market by Country
4.3 North America Telecom & IT Market by Country
4.4 North America Retail & Consumer Goods Market by Country
4.5 North America Healthcare Market by Country
4.6 North America Energy & Utilities Market by Country
4.7 North America Government Market by Country
4.8 North America Other End-use Market by Country
Chapter 5. North America Vendor Risk Management Market by Deployment
5.1 North America Cloud Market by Country
5.2 North America On-premises Market by Country
Chapter 6. North America Vendor Risk Management Market by Organization Size
6.1 North America Large Enterprises Market by Country
6.2 North America Small & Medium Enterprises Market by Country
Chapter 7. North America Vendor Risk Management Market by Solution
7.1 North America Financial Control Market by Country
7.2 North America Compliance Management Market by Country
7.3 North America Contract Management Market by Country
7.4 North America Vendor Information Management Market by Country
7.5 North America Quality Assurance Management Market by Country
7.6 North America Others Market by Country
Chapter 8. North America Vendor Risk Management Market by Country
8.1 US Vendor Risk Management Market
8.1.1 US Vendor Risk Management Market by End-use
8.1.2 US Vendor Risk Management Market by Deployment
8.1.3 US Vendor Risk Management Market by Organization Size
8.1.4 US Vendor Risk Management Market by Solution
8.2 Canada Vendor Risk Management Market
8.2.1 Canada Vendor Risk Management Market by End-use
8.2.2 Canada Vendor Risk Management Market by Deployment
8.2.3 Canada Vendor Risk Management Market by Organization Size
8.2.4 Canada Vendor Risk Management Market by Solution
8.3 Mexico Vendor Risk Management Market
8.3.1 Mexico Vendor Risk Management Market by End-use
8.3.2 Mexico Vendor Risk Management Market by Deployment
8.3.3 Mexico Vendor Risk Management Market by Organization Size
8.3.4 Mexico Vendor Risk Management Market by Solution
8.4 Rest of North America Vendor Risk Management Market
8.4.1 Rest of North America Vendor Risk Management Market by End-use
8.4.2 Rest of North America Vendor Risk Management Market by Deployment
8.4.3 Rest of North America Vendor Risk Management Market by Organization Size
8.4.4 Rest of North America 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 North America Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 2 North America 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 North America Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 7 North America Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 8 North America Manufacturing Market by Country, 2018 - 2021, USD Million
TABLE 9 North America Manufacturing Market by Country, 2022 - 2028, USD Million
TABLE 10 North America BFSI Market by Country, 2018 - 2021, USD Million
TABLE 11 North America BFSI Market by Country, 2022 - 2028, USD Million
TABLE 12 North America Telecom & IT Market by Country, 2018 - 2021, USD Million
TABLE 13 North America Telecom & IT Market by Country, 2022 - 2028, USD Million
TABLE 14 North America Retail & Consumer Goods Market by Country, 2018 - 2021, USD Million
TABLE 15 North America Retail & Consumer Goods Market by Country, 2022 - 2028, USD Million
TABLE 16 North America Healthcare Market by Country, 2018 - 2021, USD Million
TABLE 17 North America Healthcare Market by Country, 2022 - 2028, USD Million
TABLE 18 North America Energy & Utilities Market by Country, 2018 - 2021, USD Million
TABLE 19 North America Energy & Utilities Market by Country, 2022 - 2028, USD Million
TABLE 20 North America Government Market by Country, 2018 - 2021, USD Million
TABLE 21 North America Government Market by Country, 2022 - 2028, USD Million
TABLE 22 North America Other End-use Market by Country, 2018 - 2021, USD Million
TABLE 23 North America Other End-use Market by Country, 2022 - 2028, USD Million
TABLE 24 North America Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 25 North America Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 26 North America Cloud Market by Country, 2018 - 2021, USD Million
TABLE 27 North America Cloud Market by Country, 2022 - 2028, USD Million
TABLE 28 North America On-premises Market by Country, 2018 - 2021, USD Million
TABLE 29 North America On-premises Market by Country, 2022 - 2028, USD Million
TABLE 30 North America Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 31 North America Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 32 North America Large Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 33 North America Large Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 34 North America Small & Medium Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 35 North America Small & Medium Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 36 North America Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 37 North America Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 38 North America Financial Control Market by Country, 2018 - 2021, USD Million
TABLE 39 North America Financial Control Market by Country, 2022 - 2028, USD Million
TABLE 40 North America Compliance Management Market by Country, 2018 - 2021, USD Million
TABLE 41 North America Compliance Management Market by Country, 2022 - 2028, USD Million
TABLE 42 North America Contract Management Market by Country, 2018 - 2021, USD Million
TABLE 43 North America Contract Management Market by Country, 2022 - 2028, USD Million
TABLE 44 North America Vendor Information Management Market by Country, 2018 - 2021, USD Million
TABLE 45 North America Vendor Information Management Market by Country, 2022 - 2028, USD Million
TABLE 46 North America Quality Assurance Management Market by Country, 2018 - 2021, USD Million
TABLE 47 North America Quality Assurance Management Market by Country, 2022 - 2028, USD Million
TABLE 48 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 49 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 50 North America Vendor Risk Management Market by Country, 2018 - 2021, USD Million
TABLE 51 North America Vendor Risk Management Market by Country, 2022 - 2028, USD Million
TABLE 52 US Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 53 US Vendor Risk Management Market, 2022 - 2028, USD Million
TABLE 54 US Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 55 US Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 56 US Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 57 US Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 58 US Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 59 US Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 60 US Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 61 US Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 62 Canada Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 63 Canada Vendor Risk Management Market, 2022 - 2028, USD Million
TABLE 64 Canada Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 65 Canada Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 66 Canada Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 67 Canada Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 68 Canada Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 69 Canada Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 70 Canada Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 71 Canada Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 72 Mexico Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 73 Mexico Vendor Risk Management Market, 2022 - 2028, USD Million
TABLE 74 Mexico Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 75 Mexico Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 76 Mexico Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 77 Mexico Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 78 Mexico Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 79 Mexico Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 80 Mexico Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 81 Mexico Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 82 Rest of North America Vendor Risk Management Market, 2018 - 2021, USD Million
TABLE 83 Rest of North America Vendor Risk Management Market, 2022 - 2028, USD Million
TABLE 84 Rest of North America Vendor Risk Management Market by End-use, 2018 - 2021, USD Million
TABLE 85 Rest of North America Vendor Risk Management Market by End-use, 2022 - 2028, USD Million
TABLE 86 Rest of North America Vendor Risk Management Market by Deployment, 2018 - 2021, USD Million
TABLE 87 Rest of North America Vendor Risk Management Market by Deployment, 2022 - 2028, USD Million
TABLE 88 Rest of North America Vendor Risk Management Market by Organization Size, 2018 - 2021, USD Million
TABLE 89 Rest of North America Vendor Risk Management Market by Organization Size, 2022 - 2028, USD Million
TABLE 90 Rest of North America Vendor Risk Management Market by Solution, 2018 - 2021, USD Million
TABLE 91 Rest of North America Vendor Risk Management Market by Solution, 2022 - 2028, USD Million
TABLE 92 Key Information – Genpact Limited
TABLE 93 Key Information – BitSight Technologies, Inc.
TABLE 94 Key Information – RSA Security LLC
TABLE 95 Key Information – NAVEX Global, Inc.
TABLE 96 Key Information – Rapid Ratings International, Inc.
TABLE 97 Key Information – Quantivate, Inc.
TABLE 98 Key Information – SAI Global Pty Limited
TABLE 99 Key Information – ProcessUnity, Inc.
TABLE 100 Key Information – Optiv Security, Inc.
TABLE 101 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.