Product Code: GVR-4-68039-934-6
Vendor Risk Management Market Growth & Trends:
The global vendor risk management market size is expected to reach USD 24.95 billion by 2030, according to a new study conducted by Grand View Research, Inc. It is expected to expand at a CAGR of 15.2% from 2025 to 2030. Enterprises have been outsourcing critical tasks to their vendors, which considerably brings benefits and risks. Many events such as the COVID-19 pandemic, the Colonial Pipeline attack, SolarWinds cyber-attack, and other ransomware breaches have further increased the scope of risks associated with vendors. Thus, enterprises are exceedingly opting for advanced vendor risk management solutions to identify, understand, mitigate, and reduce the impact of hazards. As a result, the global market is anticipated to progress significantly through the forecast period.
The outbreak of the COVID-19 pandemic is likely to impact businesses drastically, stifling innovation, suppressing profitability, and drying up cash flow and financial reserves. The IT and software development industries have also faced challenges due to this unforeseen outbreak. A significant portion of global supply chains was disturbed due to the outburst of the pandemic, which also affected the market. Organizations from highly impacted industries such as manufacturing, BFSI, retail, and government showed less adoption of the solutions due to financial losses, interrupted business operations, and lack of visibility. However, healthcare, IT and telecom, and energy and utility industries, which presented some business opportunities amidst the pandemic, showed slight growth in vendor risk management solutions adoption. Thus, the global market is estimated to be moderately impacted by the COVID-19 crisis.
According to statistics, nearly two-thirds of the security breaches originate from vendors and third-party suppliers. Breaches like cyber security threats, intrusion of ransomware, growing disinformation campaigns, and other data privacy concerns are engaging companies to opt for risk mitigation solutions, including vendor risk management, which drives the market. Moreover, managing multiple vendors' activities seems like a tedious job for several organizations across the world. As a result, the implementation of vendor risk management solutions allows them to evaluate risks associated with vendors, identify critical issues, and enhance production rate significantly.
The key vendors in the global VRM market are focusing on introducing new solutions and services while upgrading their existing product portfolio to strengthen their foothold. For instance, in November 2017, LockPath, one of the solution providers, introduced its Keylight Platform with Security Scorecard's security rating platform. This product was aimed to support enterprises with practical vendor assessment and management while strengthening security programs. Thus, numerous developments in terms of new product launches, mergers & acquisitions, and partnerships are observed in this market, contributing to the market growth.
Vendor Risk Management Market Report Highlights:
- The financial control segment dominated the market and accounted for the revenue share of over 32.0% in 2024
- The on-premises segment accounted for a largest revenue share of over 66.0% in 2024. Despite the rise of cloud computing, many businesses still maintain on-premises environments due to specific regulatory, security, or operational requirements
- The small & medium enterprises segment accounted for a largest revenue share of over 68.0% in 2024
- The vendor risk management market in North America held a largest share of nearly 59.0% in 2024. The digital transformation and adoption of cloud technologies are also fueling VRM market growth in North America
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Methodology segmentation & scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Vendor Risk Management Variables, Trends & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.3.3. Industry Opportunities
- 3.4. Vendor Risk Management Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
Chapter 4. Vendor Risk Management Market: Solution Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Vendor Risk Management: Solution Movement Analysis, USD Billion, 2024 & 2030
- 4.3. Vendor Information Management
- 4.3.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.4. Contract Management
- 4.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.5. Financial Control
- 4.5.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.6. Compliance Management
- 4.6.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.7. Audit Management
- 4.7.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.8. Quality Assurance Management
- 4.8.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Vendor Risk Market: Deployment Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Vendor Risk Management: Deployment Movement Analysis, USD Billion, 2024 & 2030
- 5.3. Cloud
- 5.3.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.4. On-premises
- 5.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Vendor Risk Market: Enterprise Size Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Vendor Risk Management: Enterprise Size Movement Analysis, USD Billion, 2024 & 2030
- 6.3. Large Enterprises
- 6.3.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4. Small & Medium Enterprises
- 6.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7. Vendor Risk Management Market: End Use Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Vendor Risk Management: End Use Movement Analysis, USD Billion, 2024 & 2030
- 7.3. BFSI
- 7.3.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4. IT & Telecom
- 7.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.5. Retail & Consumer Goods
- 7.5.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6. Manufacturing
- 7.6.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.7. Energy & Utilities
- 7.7.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.8. Healthcare
- 7.8.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.9. Government
- 7.9.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.10. Others
- 7.10.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 8. Vendor Risk Management Market: Regional Estimates & Trend Analysis
- 8.1. Vendor Risk Management Share, By Region, 2024 & 2030, USD Billion
- 8.2. North America
- 8.2.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.2.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.2.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.2.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.2.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.2.6. U.S.
- 8.2.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.2.6.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.2.6.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.2.6.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.2.6.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.2.7. Canada
- 8.2.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.2.7.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.2.7.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.2.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.2.7.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.2.8. Mexico
- 8.2.8.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.2.8.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.2.8.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.2.8.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.2.8.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.3. Europe
- 8.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.3.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.3.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.3.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.3.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.3.6. Germany
- 8.3.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.3.6.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.3.6.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.3.6.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.3.6.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.3.7. France
- 8.3.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.3.7.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.3.7.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.3.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.3.7.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.4. Asia Pacific
- 8.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.4.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.4.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.4.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.4.6. China
- 8.4.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.6.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.4.6.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.4.6.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.4.6.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.4.7. India
- 8.4.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.7.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.4.7.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.4.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.4.7.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.4.8. Japan
- 8.4.8.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.8.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.4.8.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.4.8.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.4.8.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.4.9. Australia
- 8.4.9.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.9.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.4.9.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.4.9.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.4.9.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.4.10. South Korea
- 8.4.10.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.10.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.4.10.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.4.10.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.4.10.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.5. Latin America
- 8.5.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.5.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.5.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.5.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.5.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.5.6. Brazil
- 8.5.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.5.6.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.5.6.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.5.6.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.5.6.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.6. Middle East & Africa
- 8.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.6.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.6.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.6.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.6.6. Saudi Arabia
- 8.6.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.6.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.6.6.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.6.6.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.6.6.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.6.7. UAE
- 8.6.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.7.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.6.7.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.6.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.6.7.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
- 8.6.8. South Africa
- 8.6.8.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.8.2. Market estimates and forecast by solution, 2018 - 2030 (Revenue, USD Billion)
- 8.6.8.3. Market estimates and forecast by deployment, 2018 - 2030 (Revenue, USD Billion)
- 8.6.8.4. Market estimates and forecast by enterprise size, 2018 - 2030 (Revenue, USD Billion)
- 8.6.8.5. Market estimates and forecast by end use, 2018 - 2030 (Revenue, USD Billion)
Chapter 9. Competitive Landscape
- 9.1. Recent Developments & Impact Analysis by Key Market Participants
- 9.2. Company Categorization
- 9.3. Company Market Share Analysis
- 9.4. Company Heat Map Analysis
- 9.5. Strategy Mapping
- 9.5.1. Expansion
- 9.5.2. Mergers & Acquisition
- 9.5.3. Partnerships & Collaborations
- 9.5.4. New Product Launches
- 9.5.5. Research And Development
- 9.6. Company Profiles
- 9.6.1. BitSight Technologies
- 9.6.1.1. Participant's Overview
- 9.6.1.2. Financial Performance
- 9.6.1.3. Product Benchmarking
- 9.6.1.4. Recent Developments
- 9.6.2. Genpact
- 9.6.2.1. Participant's Overview
- 9.6.2.2. Financial Performance
- 9.6.2.3. Product Benchmarking
- 9.6.2.4. Recent Developments
- 9.6.3. LogicGate
- 9.6.3.1. Participant's Overview
- 9.6.3.2. Financial Performance
- 9.6.3.3. Product Benchmarking
- 9.6.3.4. Recent Developments
- 9.6.4. MetricStream, Inc.
- 9.6.4.1. Participant's Overview
- 9.6.4.2. Financial Performance
- 9.6.4.3. Product Benchmarking
- 9.6.4.4. Recent Developments
- 9.6.5. NAVEX Global, Inc.
- 9.6.5.1. Participant's Overview
- 9.6.5.2. Financial Performance
- 9.6.5.3. Product Benchmarking
- 9.6.5.4. Recent Developments
- 9.6.6. Prevalent, Inc.
- 9.6.6.1. Participant's Overview
- 9.6.6.2. Financial Performance
- 9.6.6.3. Product Benchmarking
- 9.6.6.4. Recent Developments
- 9.6.7. ProcessUnity
- 9.6.7.1. Participant's Overview
- 9.6.7.2. Financial Performance
- 9.6.7.3. Product Benchmarking
- 9.6.7.4. Recent Developments
- 9.6.8. Quantivate, LLC
- 9.6.8.1. Participant's Overview
- 9.6.8.2. Financial Performance
- 9.6.8.3. Product Benchmarking
- 9.6.8.4. Recent Developments
- 9.6.9. SAI Global
- 9.6.9.1. Participant's Overview
- 9.6.9.2. Financial Performance
- 9.6.9.3. Product Benchmarking
- 9.6.9.4. Recent Developments
- 9.6.10. ServiceNow
- 9.6.10.1. Participant's Overview
- 9.6.10.2. Financial Performance
- 9.6.10.3. Product Benchmarking
- 9.6.10.4. Recent Developments