Global Vendor Security and Privacy Assessment Software Market Growth (Status and Outlook) 2024-2030

Global Vendor Security and Privacy Assessment Software Market Growth (Status and Outlook) 2024-2030

Vendor security and privacy assessment software helps companies manage cybersecurity and privacy risk assessment processes when identifying, evaluating, and regularly reevaluating their vendors, service providers, and other third parties. The purpose of this software is to help companies understand the privacy and cybersecurity risks associated with doing business with specific prospective and existing third parties. Vendor security and privacy assessments often include reviewing and scoring a vendor’s cybersecurity policies, documentation, results of recent audits, certifications, and legal agreements on how sensitive or personally identifying data will be accessed, used, processed, or sold as defined by data privacy laws such as the GDPR or CCPA.

The global Vendor Security and Privacy Assessment Software market size is projected to grow from US$ 2466.2 million in 2023 to US$ 6412.5 million in 2030; it is expected to grow at a CAGR of 14.6% from 2024 to 2030.

LPI (LP Information)' newest research report, the “Vendor Security and Privacy Assessment Software Industry Forecast” looks at past sales and reviews total world Vendor Security and Privacy Assessment Software sales in 2023, providing a comprehensive analysis by region and market sector of projected Vendor Security and Privacy Assessment Software sales for 2024 through 2030. With Vendor Security and Privacy Assessment Software sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Vendor Security and Privacy Assessment Software industry.

This Insight Report provides a comprehensive analysis of the global Vendor Security and Privacy Assessment Software landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Vendor Security and Privacy Assessment Software portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Vendor Security and Privacy Assessment Software market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Vendor Security and Privacy Assessment Software and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Vendor Security and Privacy Assessment Software.

Some of the future market trends of Vendor Security and Privacy Assessment Software are:

Increased adoption of cloud-based solutions: As more organizations move their data and applications to the cloud, they need to ensure that their cloud service providers (CSPs) meet their security and privacy standards. Cloud-based Vendor Security and Privacy Assessment Software can help organizations streamline the process of assessing CSPs by providing access to up-to-date information on CSPs’ security certifications, audit reports, policies and practices. Cloud-based solutions can also offer scalability, flexibility and cost-effectiveness compared to on-premises solutions.

Enhanced use of artificial intelligence (AI) and machine learning (ML): AI and ML can help organizations automate various aspects of vendor security assessments such as data collection, analysis and scoring. AI and ML can also help organizations generate insights from large volumes of vendor data and identify patterns, trends and anomalies that may indicate potential risks. AI and ML can also help organizations improve the accuracy and efficiency of vendor security assessments by reducing human errors and biases.

Increased focus on data privacy regulations: As more countries and regions enact or update their data privacy laws, such as GDPR, CCPA, LGPD, PDPA and others, organizations need to ensure that their vendors comply with these regulations. Vendor Security and Privacy Assessment Software can help organizations monitor and verify the compliance status of their vendors by providing visibility into their vendors’ data processing activities, data transfers, data breaches, data subject rights requests and other relevant aspects. Vendor Security and Privacy Assessment Software can also help organizations manage the documentation and evidence required to demonstrate compliance to regulators and auditors.

This report presents a comprehensive overview, market shares, and growth opportunities of Vendor Security and Privacy Assessment Software market by product type, application, key players and key regions and countries.

Segmentation by type
Cloud Based
On Premises

Segmentation by application
Large Enterprises
SMEs

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
RFPIO
OneTrust
Loopio
SecurityScorecard
Whistic
HyperComply
Prevalent
Aptible
ProcessBolt
Vendict
BitSight
Vanta
Approvd
Censinet
CyGov
CENTRL
ClearOPS
ComplyScore
Zartech
CyberGRX
CyberVadis
Enactia
Exterro
FortifyData
iTrust Holdings
Laika
LaSalle Solutions
Panorays
Phinity Risk Solutions
Privva

Please note: The report will take approximately 2 business days to prepare and deliver.