SAN FRANCISCO , June 29, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Vendor Risk Management - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
What's New for 2022?
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to our digital archives and MarketGlass Research Platform
Complimentary updates for one year
Edition: 9; Released: January 2022
Executive Pool: 3531
Companies: 41 - Players covered include Bitsight Technologies, Inc.; Genpact; IBM Corporation; Lockpath, Inc.; MetricStream Inc.; Nasdaq BWise; Optiv Security, Inc.; Quantivate, LLC; Rapid Ratings International Inc.; Resolver Inc.; Rsa Security LLC; Rsam; SAI Global Pty Limited and Others.
Coverage: All major geographies and key segments
Segments: Solution (Compliance Management, Audit Management, Financial Control, Quality Assurance Management)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Vendor Risk Management Market to Reach $9 Billion by 2026
Amid the COVID-19 crisis, the global market for Vendor Risk Management estimated at US$4.2 Billion, is projected to reach a revised size of US$9 Billion by 2026, growing at a CAGR of 13.3% over the analysis period. Compliance Management, one of the segments analyzed in the report, is projected to record a 12.2% CAGR and reach US$3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Audit Management segment is readjusted to a revised 13.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.3 Billion in 2021, While China is Forecast to Reach $1.9 Billion by 2026
The Vendor Risk Management market in the U.S. is estimated at US$1.3 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2026 trailing a CAGR of 17.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 11.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.4% CAGR.
Financial Control Segment to Reach US$2.2 Billion by the year 2026
In the global Financial Control segment, USA, Canada, Japan, China and Europe will drive the 14.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$701.4 Million will reach a projected size of US$1.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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SOURCE Global Industry Analysts, Inc.