MARKET DEFINITION

Third parties play a crucial role in a company's success. Organizations of all sizes are increasingly reliant on third-party providers for innovation, growth, and digital transformation. A business may run into trouble when working with a third party. They might be a security risk if they have access to sensitive information; they might be an operational risk if they provide a corporation with a vital good or service. Third-party risk management allows companies to monitor and evaluate the third-party risk to determine where it exceeds the business's threshold. This allows enterprises to make risk-adjusted decisions and reduce vendor risk to an acceptable level.

MARKET DYNAMICS

The growth of the worldwide third-party risk management market is significantly influenced by the rising demand of different companies for third-party vendors. The market has grown as a result of regulatory agencies placing more focus on data governance and privacy. Lack of awareness and reliance on traditional, manual risk management procedures, however, might be a significant barrier to the market's expansion. The market has seen an increase in the use of AI and ML technologies for third-party due diligence, which creates opportunities across the globe.

REPORT SCOPE

The report titled “Global Third Party Risk Management Market – Size, Share, Growth, Opportunities, and Competitive Analysis, 2022 – 2028” offers strategic visions into the global Third Party Risk Management market along with the market size (Value in “US$ Mn”) for the historical period 2017 to 2021 and estimates for the forecast period 2022 to 2028. The RI report is an in-depth study of the global Third Party Risk Management market with a strong focus on key market trends, vital player strategies, and market forecasts. The study also covers key market dynamics, including drivers, restraints, opportunities, challenges, and existing and upcoming pathways that help CXOs make critical business decisions effectively. The global Third Party Risk Management Market is predicted to grow at a significant CAGR over the forecast period from 2022 to 2028.

GEOGRAPHICAL OVERVIEW

The research report includes a detailed overview of the industry comprising quantitative and qualitative information. It gives a broad overview of the worldwide market forecasts for major segments. It also includes market size and forecast projections for five key regions: North America, Europe, Asia-Pacific (APAC), South America, and the Middle East & Africa (MEA), for the years 2017 to 2028. The market is further divided by categories and countries within each province. The research scrutinizes and forecasts over 20 nations worldwide, as well as the present trend and possibilities in these regions.

MARKET SEGMENTATION

The Global Third Party Risk Management Market is segmented based on offering, deployment model, organizational size, end-use vertical, and region. Based on the offering, the market has been segmented into Solution and Service in which the solution segment is further segmented into Financial Control Management, Contract Management, Operational Risk Management, Audit Management, Compliance Management, and Others and the service segment is further segmented into Professional and Managed. The professional services are subdivided into Consulting, Integration and Design, and Support and Maintenance. Based on the deployment model, the market comprises Cloud-based and On-Premises. Based on organization size, the market has been segmented into Large Enterprises and SMEs, whereas, the end-use vertical segmentation includes BFSI, IT & Telecommunication, Healthcare & Life Sciences, Government & Defense, Retail & Consumer Goods, Manufacturing, Energy & Utilities, and Others.

COMPETITION LANDSCAPE

The RI research report discusses noteworthy developments in the industry as well as organic and inorganic growth strategies being adopted by the Third Party Risk Management market players. The report covers industry activities, including new product launches, mergers & acquisitions, business partnerships, and various expansion initiatives being undertaken by the active players in the market. These developments pave the path for various market participants to strengthen their positioning as well as expand their consumer base. The positive market outlook for the global Third Party Risk Management market is anticipated to present lucrative growth opportunities to the market players. The report also offers detailed profiles of major players in the global Third Party Risk Management market, emphasizing the strategic initiatives, financial information, SWOT analysis, and key development in the Third Party Risk Management industry in the past three years.

Key players in the Global Third Party Risk Management Market have adopted various organic as well as inorganic growth strategies to strengthen their market positioning. Prominent players in the market include:

• RSA Security LLC
• Genpact
• MetricStream
• Deloitte
• KPMG LLP
• BitSight Technologies, Inc.
• Ernst & Young
• PwC
• ProcessUnity, Inc.
• Venminder, Inc
• Resolver Inc.
• NAVEX Global, Inc.
• Riskpro
• SAI Global Compliance, Inc.

COVID-19 IMPACT ANALYSIS ON GLOBAL THIRD-PARTY RISK MANAGEMENT MARKET

The COVID-19 pandemic is still a very personal, individual experience that is also a once-in-a-lifetime worldwide phenomenon with far-reaching consequences. The epidemic has wreaked havoc on people's lives in all nations and communities and also had a negative impact on global economic development in 2020, unlike anything seen in almost a century. The pandemic severely impacted key economies such as India, Brazil, the U.S., France, Russia, the UK, Italy, Turkey, and Argentina. According to estimates, the virus slowed global economic growth by -3.4 percent to -7.6 percent in 2020, with a rebound of 4.2 percent to 5.6 percent expected in 2021. In 2020, global commerce was expected to decline by 5.3 percent, but it is expected to rise by 8.0 percent in 2021.

In contrast to the global economic downturn in the first half of 2020, the economy began to showcase symptoms of a two-track recovery post the second quarter of 2020, with a fledgling rebound in developed nations, however, slower growth in emerging economies. The outbreak of the Covid-19 pandemic has not only resulted in halted production activity but has also disrupted the global supply chain. The research goes on to evaluate the current and future implications of the COVID-19 pandemic both on the target as well as the broader market, thereby, providing accurate and trustworthy forecasts.

RESEARCH PROGRAM DESIGN

KEY QUESTIONS ANSWERED

1. What is the current size of the global Third Party Risk Management market?
2. What will be the growth rate of the market over the forecast period?
3. Who are the key manufacturers/vendors in the Third Party Risk Management market space?
4. What are the major market opportunities and market risks faced by the market?
5. What is the impact of COVID-19 on the market?
6. What are the revenue, sales, and price analysis of the top manufacturers in this market?
7. What are the key outcomes of Porter's five forces model?
8. Who are the distributors, traders, and vendors in the industry?

REASONS FOR BUYING THIS REPORT:

• The report offers comprehensive data on the Third Party Risk Management market elaborating on the current state and future growth prospects both globally and regionally
• It offers a six-year market forecast trend evaluating the impact of drivers and restraints and supporting factors for growth
• The report offers deep-dive insights into each market segment and critical factors responsible for its growth
• The report presents precise picture of the dynamic competitive landscape which helps our client advance their market position
• The comprehensive analysis of the market along with the inclusion of analyst recommendations ensures that our clients make informed business decisions
• Cross-segment country-level analysis included in the report which provides granular analysis of more than 20+ countries covered in the report scope
• The study includes detailed profiles of major manufacturers to help our readers gain holistic overview of the market competitors and consequently align their business strategies

Global Third Party Risk Management Market Growth, Trend and Forecast 2020-2028

Chapter 1 Third Party Risk Management Market Overview
1.1 Product Overview and Scope of Third Party Risk Management
1.2 Third Party Risk Management Market Segmentation by Type
1.2.1 Global Production Market Share of Third Party Risk Management by Type in 2019
1.2.1 Type 1
1.2.2 Type 2
1.2.3 Type 3
1.3 Third Party Risk Management Market Segmentation by Application
1.3.1 Third Party Risk Management Consumption Market Share by Application in 2019
1.3.2 Application 1
1.3.3 Application 2
1.3.4 Application 3
1.4 Third Party Risk Management Market Segmentation by Regions
1.4.1 North America
1.4.2 China
1.4.3 Europe
1.4.4 Southeast Asia
1.4.5 Japan
1.4.6 India
1.5 Global Market Size (Value) of Third Party Risk Management (2014-2028)

Chapter 2 Global Economic Impact on Third Party Risk Management Industry
2.1 Global Macroeconomic Environment Analysis
2.1.1 Global Macroeconomic Analysis
2.1.2 Global Macroeconomic Environment Development Trend
2.2 Global Macroeconomic Environment Analysis by Regions

Chapter 3 Global Third Party Risk Management Market Competition by Manufacturers
3.1 Global Third Party Risk Management Production and Share by Manufacturers (2019 and 2019)
3.2 Global Third Party Risk Management Revenue and Share by Manufacturers (2019 and 2019)
3.3 Global Third Party Risk Management Average Price by Manufacturers (2019 and 2019)
3.4 Manufacturers Third Party Risk Management Manufacturing Base Distribution, Production Area and Product Type
3.5 Third Party Risk Management Market Competitive Situation and Trends
3.5.1 Third Party Risk Management Market Concentration Rate
3.5.2 Third Party Risk Management Market Share of Top 3 and Top 5 Manufacturers
3.5.3 Mergers & Acquisitions, Expansion

Chapter 4 Global Third Party Risk Management Production, Revenue (Value) by Region (2014-2020)
4.1 Global Third Party Risk Management Production by Region (2014-2020)
4.2 Global Third Party Risk Management Production Market Share by Region (2014-2020)
4.3 Global Third Party Risk Management Revenue (Value) and Market Share by Region (2014-2020)
4.4 Global Third Party Risk Management Production, Revenue, Price and Gross Margin (2014-2020)
4.5 North America Third Party Risk Management Production, Revenue, Price and Gross Margin (2014-2020)
4.6 Europe Third Party Risk Management Production, Revenue, Price and Gross Margin (2014-2020)
4.7 China Third Party Risk Management Production, Revenue, Price and Gross Margin (2014-2020)
4.8 Japan Third Party Risk Management Production, Revenue, Price and Gross Margin (2014-2020)
4.9 Southeast Asia Third Party Risk Management Production, Revenue, Price and Gross Margin (2014-2020)
4.10 India Third Party Risk Management Production, Revenue, Price and Gross Margin (2014-2020)

Chapter 5 Global Third Party Risk Management Supply (Production), Consumption, Export, Import by Regions (2014-2020)
5.1 Global Third Party Risk Management Consumption by Regions (2014-2020)
5.2 North America Third Party Risk Management Production, Consumption, Export, Import by Regions (2014-2020)
5.3 Europe Third Party Risk Management Production, Consumption, Export, Import by Regions (2014-2020)
5.4 China Third Party Risk Management Production, Consumption, Export, Import by Regions (2014-2020)
5.5 Japan Third Party Risk Management Production, Consumption, Export, Import by Regions (2014-2020)
5.6 Southeast Asia Third Party Risk Management Production, Consumption, Export, Import by Regions (2014-2020)
5.7 India Third Party Risk Management Production, Consumption, Export, Import by Regions (2014-2020)

Chapter 6 Global Third Party Risk Management Production, Revenue (Value), Price Trend by Type
6.1 Global Third Party Risk Management Production and Market Share by Type (2014-2020)
6.2 Global Third Party Risk Management Revenue and Market Share by Type (2014-2020)
6.3 Global Third Party Risk Management Price by Type (2014-2020)
6.4 Global Third Party Risk Management Production Growth by Type (2014-2020)

Chapter 7 Global Third Party Risk Management Market Analysis by Application
7.1 Global Third Party Risk Management Consumption and Market Share by Application (2014-2020)
7.2 Global Third Party Risk Management Consumption Growth Rate by Application (2014-2020)
7.3 Market Drivers and Opportunities
7.3.1 Potential Applications
7.3.2 Emerging Markets/Countries

Chapter 8 Third Party Risk Management Manufacturing Cost Analysis
8.1 Third Party Risk Management Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Price Trend of Key Raw Materials
8.1.3 Key Suppliers of Raw Materials
8.1.4 Market Concentration Rate of Raw Materials
8.2 Proportion of Manufacturing Cost Structure
8.2.1 Raw Materials
8.2.2 Labor Cost
8.2.3 Manufacturing Expenses
8.3 Manufacturing Process Analysis of Third Party Risk Management

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
9.1 Third Party Risk Management Industrial Chain Analysis
9.2 Upstream Raw Materials Sourcing
9.3 Raw Materials Sources of Third Party Risk Management Major Manufacturers in 2019
9.4 Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders
10.1 Marketing Channel
10.1.1 Direct Marketing
10.1.2 Indirect Marketing
10.1.3 Marketing Channel Development Trend
10.2 Market Positioning
10.2.1 Pricing Strategy
10.2.2 Brand Strategy
10.2.3 Target Client
10.3 Distributors/Traders List

Chapter 11 Market Effect Factors Analysis
11.1 Technology Progress/Risk
11.1.1 Substitutes Threat
11.1.2 Technology Progress in Related Industry
11.2 Consumer Needs/Customer Preference Change
11.3 Economic/Political Environmental Change

Chapter 12 Global Third Party Risk Management Market Forecast (2020-2028)
12.1 Global Third Party Risk Management Production, Revenue Forecast (2020-2028)
12.2 Global Third Party Risk Management Production, Consumption Forecast by Regions (2020-2028)
12.3 Global Third Party Risk Management Production Forecast by Type (2020-2028)
12.4 Global Third Party Risk Management Consumption Forecast by Application (2020-2028)
12.5 Third Party Risk Management Price Forecast (2020-2028)

Chapter 13 Appendix