MarketsandMarkets has published a new report that states that the global vendor risk management market is expected to grow to significantly by the year 2022. The report divides the market by component (solutions vs services), deployment type, organization size, industry segments and region to define the market growth opportunity. MarketsandMarkets is a B2B research firm that employees 850 full-time analysts to track high growth global markets, providing market sizing and strategic advice and forecast of niche markets.
The report states “MarketsandMarkets expects the global vendor risk management market to grow from USD 2.97 Billion in 2016 to 6.50 Billion by 2022. The global managed services market will grow at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period… The report provides detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market.” And reminds us that “enterprises consider vendor risk management as an integral part of their risk management processes to mitigate the critical operational and reputational risks.”
The MarketsandMarkets VENDOR RISK MANAGEMENT MARKET – GLOBAL FORECAST TO 2022 report, can be purchased on their website at https://www.marketsandmarkets.com/.
(I have no affiliation. Just thought to share it here!)