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Houston, TX -- (SBWIRE) -- 04/10/2018 -- Global Vendor Risk Management Market Size, Status and Forecast 2023." Increasing trend of outsourcing various business operations and risk assessment of vendors are major drivers of the vendor risk management market. Moreover, it is increasingly important for enterprises to identify and mitigate these risks to achieve their business goals and sustain in the intense competition. rapidly adopting and willing to invest in emerging technologies, such as analytics, big data, and cloud platforms. North America has the first-mover advantage of adopting new technologies, such as smartphones and cloud platform. Moreover, there is an increasing demand among enterprises to reduce the risk associated while managing various vendors and increase productivity in the region. Companies willingly invest in North America. The factors driving the growth of the vendor risk management market in North America are stable economy, technology enhancements, and optimized infrastructure costs.
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vendor risk management market size is expected to grow from USD +3 Billion in 2017 to +USD 6 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of +14% during the forecast period.
This intelligent study examines and inspects the Vendor Risk Management market and reveals a far-reaching estimate of its progressions and its determinations. The BFSI vertical includes commercial banks, insurance companies, non-banking financial companies, stock brokerage firms, and payment gateway providers. This vertical deal with critical financial data; hence, it is a good contributor in the vendor risk management market. Due to continuous changes in compliances, companies need to update new compliances or rules set by the governments. Vendor risk management solutions for the BFSI vertical help financial and insurance companies in the audits and financial control of the organizations.
Some of the prominent players: 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).
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North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa have been identified at the prominent regional markets for Vendor Risk Management in the research study. The market report presents a study of the current status of these regional markets on the basis of various significant market verticals such as the industrial volume, the product estimating, the manufacturing volume, the dynamics of demand and supply, revenue, and the growth rate of this market in each of the regions.
Players in the Global Vendor Risk Management Market are continuously striving for modernization. Technology is being sought after both in the engineering process and in terms of product features. The market is dynamic in nature and this is inspiring testing requirements as well as the development of high-performance equipment, furthering the growth prospects of the market.
Having discussed the growth drivers and restraints and presented a detailed segmentation of the Vendor Risk Management market, the report goes on to delve into its competitive landscape. To do so, it influences market-leading methodical tools to understand the prospects and drawbacks that is in store for the players. It also throws light on the different strategies exercised by companies in order to succeed.
Table of Content:
Chapter 1 Vendor Risk Management Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis