London, United Kingdom – MR Accuracy Reports released new research on Global Third Party Risk Management Coverage of micro-level analysis by competitors and key business segments (2022-2032). Third-Party Risk Management Market – Projected to grow from $5.2 billion in 2021 to $17.8 billion in 2032 at a CAGR of 17.9% over the forecast period.

Some of the key players profiled in the study are Bitsight Technologies, IBM, MetricStream, Genpact, Galvanize, NAVEX Global, RapidRatings, Resolver, SAI Global, Optiv Security, RSA Security (Dell), Venminder, LogicManager

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Based on the components, the solutions segment is estimated to hold a higher share of the Third-Party Risk Management market in 2019

The Components segment mainly includes solutions and services. The TPRM solution helps companies to identify and reduce the risks that arise when outsourcing some activities or operations. Various organizations operating in different industries have considered implementing effective solutions to manage their partner ecosystem to mitigate the risks associated with managing vendors. In addition, organizations implement the TPRM solution to automate, improve and manage the entire risk assessment process to improve transparency and measure uncertainties.

Based on Solutions, the Compliance Management segment is expected to grow at the highest CAGR during the forecast period

The demand for compliance management solutions is increasing due to the growing need to comply with legal regulations and reporting obligations. The lack of transparency in financial matters can lead to higher penalties and fines, resulting in huge financial losses. Therefore, organizations are focused on providing a system that will help them manage these requirements and ensure compliance-related tasks are taken care of. Compliance management solutions that are…