NA Third Party Risk Management Market - Industry Trends and Forecast to 2035
North America third party risk management market is expected to reach USD 8,627.72 million by 2031, from USD 2,187.23 million in 2023, growing at a CAGR of 18.8% in the forecast period of 2024 to 2031.
Market Segmentation
North America Third Party Risk Management Market, By Component (Solution and Services), Deployment Model (On-Premise and Cloud), Organization Size (Large Enterprises and Small and Medium-Sized enterprises), End User (Government, Aerospace and Defense, Banking, Financial Services, and Insurance, Manufacturing, IT and Telecom, Energy and Utilities, Retail and Consumer Goods, Healthcare and Life Sciences, and Others), Country (U.S., Canada, Mexico)– Industry Trends and Forecast to 2031
Overview of North America Third Party Risk Management Market Dynamics:
Driver • Surge in cyberattacks and ransomware
Restraint • Constant changes in compliance laws and regulations
Challenge • Lack of skilled employees to perform and manage risk assessments
Market Players
The key market players operating in the North America third party risk management market are listed below: • Ernst & Young North America Limited • OneTrust, LLC. • Deloitte • KPMG International • Genpact • MITRATECH • Aravo Solutions, Inc. • BitSight Technologies, Inc. • IBM Corporation • MetricStream • NAVEX North America, Inc. • Optiv Security Inc. • Prevalent, Inc • ProcessUnity, Inc. • Rapid Ratings International, Inc. • PwC • Resolver Inc. • RSA Security LLC • SAI360 Inc. • Venminder, Inc
1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.3 Overview Of The North America Third Party Risk Management Market
1.4 Currency And Pricing
1.5 Limitations
1.6 Market Covered
2 Market Segmentation
2.1 Markets Covered
2.2 Years Considered For The Study
2.3 Geographic Scope
2.4 Dbmr Tripod Data Validation Model
2.5 Primary Interviews With Key Opinion Leaders
2.6 Dbmr Market Position Grid
2.7 Vendor Share Analysis
2.8 Multivariate Modelling
2.9 Component Timeline Curve
2.10 Secondary Sources
2.11 Assumptions
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Drivers
5.1.1 Surge In Cyberattacks And Ransomware
5.1.2 Increasing Dependence Of Various Organizations On Third Party Vendors
5.1.3 Increasing Emphasis On Data Governance And Privacy By Regulatory Bodies
5.1.4 Increasing Progress Of Digitalization In Businesses
5.1.5 Surge In The Third Party Supply Chain Breaches
5.2 Restraints
5.2.1 Constant Changes In Compliance Laws And Regulations
5.2.2 Lack Of Awareness And Dependence On Conventional And Manual Risk Management Processes
5.3 Opportunities
5.3.1 Esg-related Third Party Risk
5.3.2 Increasing Application Of Ai And Ml Technologies For Third Party
5.3.3 Third Party Risk Management Using Blockchain
5.3.4 Increasing Use Of Cloud Environment For Business Application
5.4 Challenges
5.4.1 High Initial Investment Cost
5.4.2 Lack Of Skilled Employees To Perform And Manage Risk Assessments
5.4.3 Inconsistency Of Companies In Their Approach To Tprm
6 North America Third Party Risk Management Market, By Component
6.1 Overview
6.2 Solutions
6.2.1 Compliance Management
6.2.2 Financial Control Management
6.2.3 Operation Risk Management
6.2.4 Contract Management
6.2.5 Audit Management
6.2.6 Others
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting
6.3.1.2 Integration And Design
6.3.1.3 Support And Maintenance
6.3.2 Managed Services
7 North America Third Party Risk Management Market, By Deployment Model
7.1 Overview
7.2 On-premise
7.3 Cloud
8 North America Third Party Risk Management Market, By Organization Size
8.1 Overview
8.2 Large Enterprises
8.3 Small And Medium-sized Enterprises
9 North America Third Party Risk Management Market, By End User
9.1 Overview
9.2 Government, Aerospace, And Defense
9.2.1 Large Enterprises
9.2.2 Small And Medium-sized Enterprises
9.3 Banking, Financial Services, And Insurance
9.3.1 Large Enterprises
9.3.2 Small And Medium-sized Enterprises
9.4 Manufacturing
9.4.1 Large Enterprises
9.4.2 Small And Medium-sized Enterprises
9.5 It And Telecom
9.5.1 Large Enterprises
9.5.2 Small And Medium-sized Enterprises
9.6 Energy And Utilities
9.6.1 Large Enterprises
9.6.2 Small And Medium-sized Enterprises
9.7 Retail And Consumer Goods
9.7.1 Large Enterprises
9.7.2 Small And Medium-sized Enterprises
9.8 Healthcare And Life Sciences
9.8.1 Large Enterprises
9.8.2 Small And Medium-sized Enterprises
9.9 Others
9.9.1 Large Enterprises
9.9.2 Small And Medium-sized Enterprises
10 North America Third Party Risk Management Market, By Region
10.1 North America
10.1.1 U.S.
10.1.2 Canada
10.1.3 Mexico
11 North America Third Party Risk Management Market: Company Landscape
11.1 Company Share Analysis: North America
12 Swot Analysis
13 Company Profile
13.1 Ernst & Young North America Limited
13.1.1 Company Snapshot
13.1.2 Company Share Analysis
13.1.3 Services Portfolio
13.1.4 Recent Developments
13.2 Deloitte
13.2.1 Company Snapshot
13.2.2 Company Share Analysis
13.2.3 Service Portfolio
13.2.4 Recent Developments
13.3 Onetrust, Llc
13.3.1 Company Snapshot
13.3.2 Company Share Analysis
13.3.3 Solution Portfolio
13.3.4 Recent Developments
13.4 Genpact
13.4.1 Company Snapshot
13.4.2 Revenue Analysis
13.4.3 Company Share Analysis
13.4.4 Service Portfolio
13.4.5 Recent Development
13.5 Kpmg International
13.5.1 Company Snapshot
13.5.2 Company Share Analysis
13.5.3 Services Portfolio
13.5.4 Recent Development
13.6 Aravo Solutions, Inc.
13.6.1 Company Snapshot
13.6.2 Product Portfolio
13.6.3 Recent Developments
13.7 Bitsight Technologies
13.7.1 Company Snapshot
13.7.2 Solution Portfolio
13.7.3 Recent Developments
13.8 Ibm Corporation
13.8.1 Company Snapshot
13.8.2 Revenue Analysis
13.8.3 Solution Portfolio
13.8.4 Recent Development
13.9 Metricstream
13.9.1 Company Snapshot
13.9.2 Product Portfolio
13.9.3 Recent Developments
13.10 Mitratech
13.10.1 Company Snapshot
13.10.2 Product Portfolio
13.10.3 Recent Developments
13.11 Navex North America, Inc.
13.11.1 Company Snapshot
13.11.2 Solution Portfolio
13.11.3 Recent Developments
13.12 Optiv Security Inc.
13.12.1 Company Snapshot
13.12.2 Service Portfolio
13.12.3 Recent Developments
13.13 Prevalent, Inc
13.13.1 Company Snapshot
13.13.2 Product Portfolio
13.13.3 Recent Developments
13.14 Processunity, Inc.
13.14.1 Company Snapshot
13.14.2 Solution Portfolio
13.14.3 Recent Developments
13.15 Pwc
13.15.1 Company Snapshot
13.15.2 Solution Portfolio
13.15.3 Recent Development
13.16 Rapid Ratings International, Inc.
13.16.1 Company Snapshot
13.16.2 Solution Portfolio
13.16.3 Recent Development
13.17 Resolver Inc.
13.17.1 Company Snapshot
13.17.2 Product Portfolio
13.17.3 Recent Developments
13.18 Rsa Security Llc
13.18.1 Company Snapshot
13.18.2 Product Portfolio
13.18.3 Recent Developments
13.19 Sai360 Inc.
13.19.1 Company Snapshot
13.19.2 Solution Portfolio
13.19.3 Recent Developments
13.20 Venminder, Inc
13.20.1 Company Snapshot
13.20.2 Product Portfolio
13.20.3 Recent Developments
14 Questionnaire
15 Related Reports
List Of Tables
Table 1 Pricing Of Third-party Risk Management Software
Table 2 North America Third Party Risk Management Market, By Component, 2022-2031 (Usd Million)
Table 3 North America Solutions In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 4 North America Solutions In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 5 North America Services In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 6 North America Services In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 7 North America Professional Services In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 8 North America Third Party Risk Management Market, By Deployment Model, 2022-2031 (Usd Million)
Table 9 North America On-premise In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 10 North America Cloud In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 11 North America Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 12 North America Large Enterprises In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 13 North America Small And Medium-sized Enterprises In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 14 North America Third Party Risk Management Market, By End User, 2022-2031 (Usd Million)
Table 15 North America Government, Aerospace, And Defense In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 16 North America Government, Aerospace, And Defense In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 17 North America Banking, Financial Services, And Insurance In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 18 North America Banking, Financial Services, And Insurance In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 19 North America Manufacturing In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 20 North America Manufacturing In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 21 North America It And Telecom In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 22 North America It And Telecom In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 23 North America Energy And Utilities In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 24 North America Energy And Utilities In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 25 North America Retail And Consumer Goods In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 26 North America Retail And Consumer Goods In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 27 North America Healthcare And Life Sciences In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 28 North America Healthcare And Life Sciences In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 29 North America Others In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 30 North America Others In Third Party Risk Management Market, By Region, 2022-2031 (Usd Million)
Table 31 North America Third Party Risk Management Market, By Country, 2022-2031 (Usd Million)
Table 32 North America Third Party Risk Management Market, By Component, 2022-2031 (Usd Million)
Table 33 North America Solutions In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 34 North America Services In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 35 North America Professional Services In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 36 North America Third Party Risk Management Market, By Deployment Model, 2022-2031 (Usd Million)
Table 37 North America Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 38 North America Third Party Risk Management Market, By End User, 2022-2031 (Usd Million)
Table 39 North America Government, Aerospace, And Defense In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 40 North America Banking, Financial Services, And Insurance In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 41 North America Healthcare And Life Sciences In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 42 North America It And Telecom In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 43 North America Manufacturing In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 44 North America Energy And Utilities In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 45 North America Retail And Consumer Goods In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 46 North America Others In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 47 U.S. Third Party Risk Management Market, By Component, 2022-2031 (Usd Million)
Table 48 U.S. Solutions In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 49 U.S. Services In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 50 U.S. Professional Services In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 51 U.S. Third Party Risk Management Market, By Deployment Model, 2022-2031 (Usd Million)
Table 52 U.S. Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 53 U.S. Third Party Risk Management Market, By End User, 2022-2031 (Usd Million)
Table 54 U.S. Government, Aerospace, And Defense In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 55 U.S. Banking, Financial Services, And Insurance In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 56 U.S. Healthcare And Life Sciences In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 57 U.S. It And Telecom In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 58 U.S. Manufacturing In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 59 U.S. Energy And Utilities In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 60 U.S. Retail And Consumer Goods In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 61 U.S. Others In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 62 Canada Third Party Risk Management Market, By Component, 2022-2031 (Usd Million)
Table 63 Canada Solutions In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 64 Canada Services In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 65 Canada Professional Services In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 66 Canada Third Party Risk Management Market, By Deployment Model, 2022-2031 (Usd Million)
Table 67 Canada Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 68 Canada Third Party Risk Management Market, By End User, 2022-2031 (Usd Million)
Table 69 Canada Government, Aerospace, And Defense In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 70 Canada Banking, Financial Services, And Insurance In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 71 Canada Healthcare And Life Sciences In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 72 Canada It And Telecom In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 73 Canada Manufacturing In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 74 Canada Energy And Utilities In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 75 Canada Retail And Consumer Goods In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 76 Canada Others In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 77 Mexico Third Party Risk Management Market, By Component, 2022-2031 (Usd Million)
Table 78 Mexico Solutions In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 79 Mexico Services In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 80 Mexico Professional Services In Third Party Risk Management Market, By Type, 2022-2031 (Usd Million)
Table 81 Mexico Third Party Risk Management Market, By Deployment Model, 2022-2031 (Usd Million)
Table 82 Mexico Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 83 Mexico Third Party Risk Management Market, By End User, 2022-2031 (Usd Million)
Table 84 Mexico Government, Aerospace, And Defense In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 85 Mexico Banking, Financial Services, And Insurance In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 86 Mexico Healthcare And Life Sciences In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 87 Mexico It And Telecom In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 88 Mexico Manufacturing In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 89 Mexico Energy And Utilities In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 90 Mexico Retail And Consumer Goods In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
Table 91 Mexico Others In Third Party Risk Management Market, By Organization Size, 2022-2031 (Usd Million)
List Of Figures
Figure 1 North America Third Party Risk Management Market: Segmentation
Figure 2 North America Third Party Risk Management Market: Data Triangulation
Figure 3 North America Third Party Risk Management Market: Droc Analysis
Figure 4 North America Third Party Risk Management Market: North America Vs Regional Market Analysis
Figure 5 North America Third Party Risk Management Market: Company Research Analysis
Figure 6 North America Third Party Risk Management Market: Interview Demographics
Figure 7 North America Third Party Risk Management Market: Dbmr Market Position Grid
Figure 8 North America Third Party Risk Management Market: Vendor Share Analysis
Figure 9 North America Third Party Risk Management Market: Multivariate Modelling
Figure 10 North America Third Party Risk Management Market: Component Timeline Curve
Figure 11 North America Third Party Risk Management Market: Segmentation
Figure 12 North America Is Expected To Dominate And Asia-pacific Is The Fastest-growing Region In The North America Third Party Risk Management Market In The Forecast Period Of 2024 To 2031
Figure 13 Asia-pacific Is The Fastest Growing Market For Third Party Risk Management Manufacturers In The Forecast Period Of 2024 To 2031
Figure 14 Increasing Dependence Of Various Organizations On Third Party Vendors Is Expected To Drive The North America Third Party Risk Management Market Growth In The Forecast Period Of 2024 To 2031
Figure 15 Solutions Segment Is Expected To Account For The Largest Share Of The North America Third Party Risk Management Market In 2024 & 2031
Figure 16 Drivers, Restraints, Opportunities, And Challenges Of The Europe Hoses Market
Figure 17 Known Records Breached
Figure 18 Publicly Disclosed Security Incidents
Figure 19 North America Third Party Risk Management Market: By Component, 2023
Figure 20 North America Third Party Risk Management Market: By Deployment Model, 2023
Figure 21 North America Third Party Risk Management Market: By Organization Size, 2023
Figure 22 North America Third Party Risk Management Market: By End User, 2023
Figure 23 North America Third Party Risk Management Market: Snapshot (2023)
Figure 24 North America Third Party Risk Management Market: Company Share 2023 (%)