Press release
Third Party Risk Management Market to Witness Notable Growth by Forecast Period | 2029
The global third party risk management market was valued at USD 4.34 billion in 2021 and is expected to reach USD 14.64 billion by 2029, registering a CAGR of 16.41% during the forecast period of 2022-2029.The third party risk management market report is bifurcated into several attributes which include manufacturers, region, type, application, market status, market share, growth rate, future trends, market drivers, opportunities, challenges, emerging trends, risks, entry barriers, sales channels, and distributors which are again detailed in the report as required to describe the topic and provide maximum information for better decision making. third party risk management market report also provides an exhaustive analysis of geographical scenario of the third party risk management industry including detailed analysis of market scope, share, year on year development and opportunity analysis about the major regions.
Third Party Risk Management Market Analysis and Size
The COVID-19 epidemic has caused a 600% increase in cybercrime, which includes everything from theft or embezzlement to data hacking and destruction. Every industry has had to adopt new technologies, which has compelled businesses to act rapidly in order to adapt. By 2025, it is predicted that cybercrime will cost businesses around the world $10.5 trillion yearly, up from $3 trillion in 2015.
Global third party risk management market was valued at USD 4.34 billion in 2021 and is expected to reach USD 14.64 billion by 2029, registering a CAGR of 16.41% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Third Party Risk Management Market Country Level Analysis
North America dominates the third party risk management market due to the presence of established economies such as U.S. and Canada and strong economic growth, and rising investments by SMEs within the region on third-party risk management solutions. Prevalence of advanced IT infrastructure is another important factor determining the dominance of this region.
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