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Third-Party Risk Management Market Share

Report ID: GMI7989
Published Date: Jul 2024
Report Format: PDF

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Third-Party Risk Management Market Share

PwC, KPMG, and Service Now hold a significant market share of 16% in third party risk management industry. With its all-inclusive risk management solutions, PwC shines, skillfully combining AI and machine learning to anticipate and successfully counter possible dangers. They provide solutions for ongoing compliance and monitoring in a variety of industries, such as healthcare and finance.

KPMG is distinguished by its scalable governance, risk, and compliance platform that uses cutting-edge analytics to deliver real-time insights on third-party risks. As essential participants in preserving corporate integrity and resilience in a dynamic global environment, their solutions are designed to satisfy strict regulatory standards and manage increasing cyber threats.

Third-Party Risk Management Market Share

The major players operating in the third-party risk management industry are:

PwC
KPMG
ServiceNow, Inc.
Deloitte
Genpact
BitSight Technologies, Inc.
NAVEX Global, Inc.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of third-party risk management reached USD 6.1 billion in 2023 and is set to witness over 15% CAGR from 2024 to 2032, owing to these parties managing risks linked to outsourcing relationships worldwide.

Third-party risk management industry from the solution segment is expected to register 65% share in 2032, due to accelerating demand towards comprehensive and automated solutions in response to complex risk landscapes.

North America market held over 36% share in 2023, attributed to rapid digitalization, integration of cutting-edge technology, and rising frequency of sophisticated data breaches/cyberattacks in the region.

PwC, KPMG, ServiceNow, Inc., Deloitte, Genpact, BitSight Technologies, Inc., and NAVEX Global, Inc., are some of the major third-party risk management companies worldwide.