Third-Party Risk Management Market Analysis & Forecast, 2020 – 2025

Report Code - ICT20201011C | Industry - Information and Communications Technology | Published on - October, 2020 | Pages - 155 | Format -

Third-Party Risk Management Market by Component (Solution (Financial Control Management, Contract Management, Operational Risk Management, Audit Management, Compliance Management, Others), Services), Deployment Model, Enterprise Size, Industry – Global Market Analysis and Forecast (2020 – 2025)




The global third-party risk management market generated revenue of US$ 3.2 billion in 2020 and is expected to reach US$ 6.5 billion by 2025 with a CAGR of 15.1% in the forecast period. The third-party risk management market report offers a comprehensive market analysis of the different segments and regions that lets readers make crucial business-related decisions with a wealth of information enclosed in this report.

The factor that drives the demand for third-party risk management is increasing focus on mitigating risk with third parties by organizations, lack of in-house competencies in the organization across several verticals, and the rising of cyber-attacks, technological advancement, and increasing outsourcing of operations by organizations. The research report offers both qualitative and quantitative information on the global third-party risk management market. In qualitative terms, the third-party risk management market report provides insights into numerous factors, such as market determinants, value chain analysis, emerging trends, growth opportunity analysis, porters five-force model analysis and macro-economic factors, segment analysis, regional analysis at a granular level. Similarly, in quantitative terms, the report provides historical and forecast market numbers of third-party risk management in various segments such as by component, deployment model, enterprise size, and industry at global, regional, and country-level. Also, the report provides a detailed analysis of the market vendors and their product offerings. The report also covers details of the competitive market environment and includes information on the capabilities and competencies of market vendors.

Segment Analysis

  • The solution segment accounts for the dominating position in the market.  
    • Based on components, third-party risk management is segmented into solutions and services. The solution segment holds the dominating position in the market in 2020 and is expected to retain its dominance throughout the forecast period. Moreover, the service segment is further segmented into professional and managed services. The professional services segment accounts for the dominant position in the market in 2020, whereas the managed services segment is projected to grow with the highest CAGR during the forecast period. Moreover, the solution segment is further segmented into financial control management, contract management, operational risk management, audit management, compliance Management, Others. The financial control management segment accounts for the dominant position in the market in 2020.
  • The cloud-based deployment model is expected to grow with the highest CAGR. 
    • Based on the deployment model, third-party risk management is segmented into on-premises and cloud-based. The cloud-based deployment model is expected to grow with the highest CAGR during the forecast period. Moreover, the on-premises deployment model holds the dominating position of the market in 2020 and is expected to retain its dominance throughout the forecast period.
  • The large Enterprises segment accounts for the dominating position in the market. 
    • Based on enterprise size, third-party risk management is segmented into small & medium enterprises and large enterprises. The small & medium enterprises segment is expected to grow with the highest CAGR during the forecast period. Moreover, the large enterprise segment holds the dominating position in the market in 2020 and is expected to retain its dominance throughout the forecast period.
  • BFSI segment accounts for the dominating position in the market. 
    • Based on industry, the third-party risk management is segmented into BFSI, IT and telecom, healthcare and life Sciences, government, defense, and aerospace, retail and consumer goods, manufacturing, energy and utilities, others (includes education; travel and hospitality; transportation and logistics; and media and entertainment). The BFSI sector holds a leading market position in 2020 and is projected to stay leading over the forecast period
  • North America accounts for the dominating position in the market. 
    • Based on the region, third-party risk management is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America has a dominant position in the market in 2020 and is predicted to remain dominant over the projected period. The United States and Canada are the largest market-driven countries in the world. Moreover, Asia Pacific is projected to rise at the fastest CAGR in the forecast period. China, India, and Japan are some of the major market-driven countries in the world.
  • Third-Party Risk Management Market Players: 
    • Some of the major players of the third-party risk management market are RSA, Genpact, MetricStream, Deloitte, KPMG, BitSight, Ernst & Young, PwC, ProcessUnity, Venminder, Resolver, Navex Global, Riskpro, and SAI Global. The study also focuses on different business or inorganic market growth strategies through technology advancement, business expansion, alliances, and mergers and acquisitions to create disruptive technologies and consumer networks.
  • Key questions the report answers 
    • Which factors will contribute to a change in the demand for third-party risk management during the evaluation phase?
    • What are the major driving factors that accelerate the growth of the market?
    • What are the restraints which hinders the growth of the market?
    • What segment offers the most development opportunities?
    • Which region provides the key growth opportunity to the market?
    • Who are the major industry players?
    • What are the key strategies adopted by the market players?

The third-party risk management market study offers both quantitative and qualitative analysis based on various segments and regions. The report points out the market revenue from 2019 to 2025, in which 2019 is considered to be the historical year, 2020 as the base year and from 2021 to 2025 as the projection year. Market revenue is measured in the US dollar.

The third-party risk management market report provides a detailed study on the following segments:

Third-Party Risk Management Market, by Component

  • Solution 
    • Financial Control Management
    • Contract Management
    • Operational Risk Management
    • Audit Management
    • Compliance Management
    • Others 
  • Services
    • Professional Services
    • Managed Services

Third-Party Risk Management Market, by Deployment Model

  • On- Premises
  • Cloud Based

Web Content Management Software Market, by Enterprise Size

  • Small & Medium Enterprises
  • Large Enterprises

Third-Party Risk Management Market, by Industry

  • BFSI
  • IT and Telecom
  • Healthcare and Life Sciences
  • Government, Defense, and Aerospace
  • Retail and Consumer Goods
  • Manufacturing
  • Energy and Utilities
  • Others

Third-Party Risk Management Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  1. Introduction             
  2. Market Overview
    1. Global Third-Party Risk Management Market Introduction         
    2. Macro- Economic Factor
    3. Market Determinants
      1. Market Driver
      2. Market Restraints
      3. Market Opportunities
      4. Market Challenges
    4. Value Chain Analysis
    5. Technology/Product Roadmap
    6. Porters 5 Force Model
    7. Market Growth Opportunity Analysis
  3. Market Segmentation
    1. Global Third-Party Risk Management Market Analysis (US$ Mn), By Component, 2019 - 2025
      1. Solution
        1. Audit Management
        2. Compliance Management
        3. Contract Management
        4. Financial Control Management
        5. Operational Risk Management
        6. Others
      2. Services
        1. Professional Services
        2. Managed Services
    2. Global Third-Party Risk Management Market Analysis (US$ Mn), By Deployment Model, 2019 – 2025
      1. On- Premises
      2. Cloud Based
    3. Global Third-Party Risk Management Market Analysis (US$ Mn), By Enterprise Size, 2019 – 2025
      1. Small & Medium Enterprises
      2. Large Enterprises
    4. Global Third-Party Risk Management Market Analysis (US$ Mn), By Industry, 2019 – 2025
      1. BFSI
      2. Energy and Utilities
      3. Government, Defense, and Aerospace
      4. Healthcare and Life Sciences
      5. IT and Telecom
      6. Manufacturing
      7. Retail and Consumer Goods
      8. Others
  4. Regional Analysis
    1. North America Third-Party Risk Management Market Analysis (US$ Mn), 2019 - 2025
      1. By Country
        1. U.S.
        2. Canada
      2. By Component
        1. Solution
          1. Audit Management
          2. Compliance Management
          3. Contract Management
          4. Financial Control Management
          5. Operational Risk Management
          6. Others
        2. Services
          1. Professional Services
          2. Managed Services
      3. By Deployment Model
        1. On- Premises
        2. Cloud Based
      4. By Enterprise Size
        1. Small & Medium Enterprises
        2. Large Enterprises
      5. By Industry
        1. BFSI
        2. Energy and Utilities
        3. Government, Defense, and Aerospace
        4. Healthcare and Life Sciences
        5. IT and Telecom
        6. Manufacturing
        7. Retail and Consumer Goods
        8. Others
    2. Europe Third-Party Risk Management Market Analysis (US$ Mn), 2019 - 2025
      1. By Country
        1. Germany
        2. U.K.
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
      2. By Component
        1. Solution
          1. Audit Management
          2. Compliance Management
          3. Contract Management
          4. Financial Control Management
          5. Operational Risk Management
          6. Others
        2. Services
          1. Professional Services
          2. Managed Services
      3. By Deployment Model
        1. On- Premises
        2. Cloud Based
      4. By Enterprise Size
        1. Small & Medium Enterprises
        2. Large Enterprises
      5. By Industry
        1. BFSI
        2. Energy and Utilities
        3. Government, Defense, and Aerospace
        4. Healthcare and Life Sciences
        5. IT and Telecom
        6. Manufacturing
        7. Retail and Consumer Goods
        8. Others
    3. Asia Pacific Third-Party Risk Management Market Analysis (US$ Mn), 2019 - 2025
      1. By Country
        1. China
        2. Japan
        3. India
        4. Rest of Asia Pacific
      2. By Component
        1. Solution
          1. Audit Management
          2. Compliance Management
          3. Contract Management
          4. Financial Control Management
          5. Operational Risk Management
          6. Others
        2. Services
          1. Professional Services
          2. Managed Services
      3. By Deployment Model
        1. On- Premises
        2. Cloud Based
      4. By Enterprise Size
        1. Small & Medium Enterprises
        2. Large Enterprises
      5. By Industry
        1. BFSI
        2. Energy and Utilities
        3. Government, Defense, and Aerospace
        4. Healthcare and Life Sciences
        5. IT and Telecom
        6. Manufacturing
        7. Retail and Consumer Goods
        8. Others
    4. Middle East & Africa Third-Party Risk Management Market Analysis (US$ Mn), 2019 - 2025
      1. By Country
        1. Middle East
        2. Africa
      2. By Component
        1. Solution
          1. Audit Management
          2. Compliance Management
          3. Contract Management
          4. Financial Control Management
          5. Operational Risk Management
          6. Others
        2. Services
          1. Professional Services
          2. Managed Services
      3. By Deployment Model
        1. On- Premises
        2. Cloud Based
      4. By Enterprise Size
        1. Small & Medium Enterprises
        2. Large Enterprises
      5. By Industry
        1. BFSI
        2. Energy and Utilities
        3. Government, Defense, and Aerospace
        4. Healthcare and Life Sciences
        5. IT and Telecom
        6. Manufacturing
        7. Retail and Consumer Goods
        8. Others
    5. Latin America Third-Party Risk Management Market Analysis (US$ Mn), 2019 - 2025
      1. By Country
        1. Brazil
        2. Mexico
        3. Rest of Latin America
      2. By Component
        1. Solution
          1. Audit Management
          2. Compliance Management
          3. Contract Management
          4. Financial Control Management
          5. Operational Risk Management
          6. Others
        2. Services
          1. Professional Services
          2. Managed Services
      3. By Deployment Model
        1. On- Premises
        2. Cloud Based
      4. By Enterprise Size
        1. Small & Medium Enterprises
        2. Large Enterprises
      5. By Industry
        1. BFSI
        2. Energy and Utilities
        3. Government, Defense, and Aerospace
        4. Healthcare and Life Sciences
        5. IT and Telecom
        6. Manufacturing
        7. Retail and Consumer Goods
        8. Others
  5. Competitive Analysis
    1. Company Share Analysis (%) 2019
    2. List of Acquisition, Merger, Collaboration & New Product Launch
  6. Company Profiles
    1. BitSight Technologies, Inc.
    2. Genpact
    3. KPMG International Cooperative
    4. MetricStream, Inc.
    5. NAVEX Global, Inc.
    6. Optiv Security Inc.
    7. ProcessUnity, Inc.
    8. Rapid Ratings International Inc.
    9. RSA Security LLC
    10. Venminder, Inc.

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