openPR Logo
Press release

Surge In Cyber-Attacks Drives Demand For Third-Party Risk Management Solutions: A Key Factor Shaping the Future of the Third-party Risk Management Market in 2025

03-12-2025 09:52 AM CET | IT, New Media & Software

Press release from: The Business Research Company

Third-party Risk Management Market Share

Third-party Risk Management Market Share

Which drivers are expected to have the greatest impact on the over the third-party risk management market's growth?
The escalation in cyber-attacks and fraudulent activities is anticipated to fuel the expansion of the third-party risk management market. Cybercrime entails unauthorised attempts to infiltrate a computer system or network with the intention of causing harm. The surge in internet connectivity has resulted in a corresponding increase in cyber attacks. Third-party risk management (TPRM) involves evaluating and mitigating risks related to outsourcing data to third-party vendors or service providers. This approach empowers organizations to make decisions based on risk and curtail the potential for cyber-attacks and fraud. For example, in January 2024, the World Economic Forum, an international non-governmental organization based in Switzerland, reported approximately 2,220 cyberattacks daily in 2023, which equates to over 800,000 attacks in a year. Five major or high-profile events were recorded that year, including the breach of Microsoft's Exchange, where hackers accessed thousands of emails, with at least 60,000 emails from Outlook accounts owned by employees of the US State Department. Consequently, the surging trend of cyber attacks and frauds contributes to the third-party risk management market's growth.

Get Your Third-party Risk Management Market Report Here:
https://www.thebusinessresearchcompany.com/report/third-party-risk-management-global-market-report

What is the future CAGR of the third-party risk management market, and how will it impact industry expansion?
The market size for third-party risk management has experienced accelerated growth in the past few years. Projected figures indicate an increase from $5.92 billion in 2024 to $6.85 billion in 2025, suggesting a compound annual growth rate (CAGR) of 15.7%. Factors contributing to its growth during the historical period include incidents of data breaches, worldwide expansion of businesses, changing business models, past failures in managing risk, the rise in outsourcing procedures, and concerns over data privacy.

The market size for third-party risk management is predicted to experience swift expansion in the forthcoming years, reaching a value of $13.49 billion by the year 2029. This equates to a compounded annual growth rate (CAGR) of 18.5%. This projected increase during the forecast period can be linked to factors such as a surge in cyber threats, international expansion of businesses, increased complexity of supply chains, challenges associated with remote work, demand for solutions powered by artificial intelligence, and changes in consumer expectations. Key trends anticipated during this forecast period involve scalable risk solutions, alignment with cultural and ethical norms, risks related to remote work and collaboration, resilience and business continuity, as well as focus on data privacy.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8605&type=smp

What are the most significant trends transforming the third-party risk management market today?
Technological progression is an emerging trend in the third-party risk management market. Leading enterprises in this sector are investing in novel technologies to cater to consumer needs and fortify their market stand. For instance, AuditBoard, an American cloud-based platform company, unveiled an advanced solution for third-party risk management in August 2022. The newly introduced integrated risk platform from AuditBoard empowers businesses to mitigate IT vendor risk by simplifying third-party risk assessment, monitoring, and remediation tasks for information security, compliance, and risk teams. This innovative solution encourages teams to save time and grow, leveraging automated and cooperative processes for efficient third-party risk management.

Which key market segments comprise the third-party risk management market and drive its revenue growth?
The third-party risk management market covered in this report is segmented -

1) By Component: Solution, Services
2) By Deployment Type: Cloud Based, On-Premises
3) By Organization Size: Small And Medium Size Enterprises, Large Enterprises
4) By End User: Banking, Financial Services, And Insurance, IT And Telecom, Healthcare And Life Sciences, Government, Aerospace And Defense, Retail And Consumer Goods, Manufacturing, Energy And Power, Other End Users

Subsegments:
1) By Solution: Risk Assessment Software, Compliance Management Solutions, Risk Analytics Tools, Incident Management Systems, Risk Monitoring Platforms
2) By Services: Consulting Services, Risk Assessment And Analysis Services, Training And Education Services, Managed Risk Services, Support And Maintenance Services

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8605

What regions are at the forefront of third-party risk management market expansion?
North America was the largest region in the third party risk management market in 2024. The regions covered in the third-party risk management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the third-party risk management market?
Major companies operating in the third-party risk management market include Deloitte LLP, PricewaterhouseCoopers, Ernst & Young LLP, KPMG International Limited, Genpact Ltd, Optiv Security Inc, Dun & Bradstreet, One Trust LLC, MetricStream Inc, NAVEX Global Inc, Galvanize, RSA Archer, Resolver Inc, Venminder Inc, Rsam, Aravo Solutions Inc, ProcessUnity, Rapid Ratings International Inc, BitSight Technologies, Prevalent Inc, Prevalent, LogicGate, CyberGRX, Riskpro India Ventures Pvt Limited, RiskIQ, SAI Global Pty Limited, RiskRecon Inc, Lockpath, Compliance 360, ControlCase, Riskonnect, CyberSaint Security, SureCloud, Quantivate, Tenable, CyberArk, UpGuard, Securiti.ai

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=8605&type=smp

What Is Covered In The Third-party Risk Management Global Market Report?

•Market Size Forecast: Examine the third-party risk management market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the third-party risk management market for a structured understanding.
•Key Players Overview: Analyze major players in the third-party risk management market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the third-party risk management market.
•Segment Contributions: Evaluate how different segments drive overall growth in the third-party risk management market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the third-party risk management market.
•Industry Challenges: Identify potential risks and obstacles affecting the third-party risk management market.
•Competitive Landscape: Review strategic developments in the third-party risk management market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Surge In Cyber-Attacks Drives Demand For Third-Party Risk Management Solutions: A Key Factor Shaping the Future of the Third-party Risk Management Market in 2025 here

News-ID: 3911965 • Views:

More Releases from The Business Research Company

Ambulatory IV infusion Pumps: Core Growth Enabler in the Growing Prevalence Of Chronic Diseases Fuels Demand For Ambulatory IV Infusion Pumps Market, 2025
Ambulatory IV infusion Pumps: Core Growth Enabler in the Growing Prevalence Of C …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. What Will the Ambulatory IV infusion Pumps Industry Market Size Be by 2025? In recent times, there has been consistent growth in the market size of ambulatory IV infusion pumps. A rise from $0.88 billion in 2024 to $0.91 billion in 2025 is anticipated, projecting a compound annual growth
Navigating the Future: Dental X-Ray Equipment Market Trends and Forecast Insights, 2025 Edition
Navigating the Future: Dental X-Ray Equipment Market Trends and Forecast Insight …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. Dental X-Ray Equipment Market Size Growth Forecast: What to Expect by 2025? The market size for dental x-ray equipment has experienced swift expansion in the past few years. The value is projected to escalate from $2.87 billion in 2024 to around $3.26 billion in 2025, boasting a compound annual
Vitrectomy Devices Industry Outlook 2025-2029: Market Set to Cross $2.42 Billion Milestone
Vitrectomy Devices Industry Outlook 2025-2029: Market Set to Cross $2.42 Billion …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. How Large Will the Vitrectomy Devices Market Size By 2025? In recent times, the vitrectomy devices market has demonstrated a robust growth pattern. The current projection indicates an incrrease from $1.66 billion in 2024 to $1.74 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 5.1%.
Innovative Sensors Revolutionize The Cerebrospinal Fluid (CSF) Devices Market For Enhanced Diagnosis And Treatment Industry Trends Gaining Momentum in the Global Cerebrospinal Fluid Management (CSF) Devices And Equipment Market
Innovative Sensors Revolutionize The Cerebrospinal Fluid (CSF) Devices Market Fo …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. Cerebrospinal Fluid Management (CSF) Devices And Equipment Market Size Valuation Forecast: What Will the Market Be Worth by 2025? The market for cerebrospinal fluid management (csf) devices and equipment has seen robust growth in the past few years. The market size is projected to increase from $1.15 billion in

All 5 Releases


More Releases for Risk

RiskWatch Launches Risk Management Software: Streamlined Risk Assessments and In …
RiskWatch International, a leading provider of compliance and risk management solutions, has announced the launch of its comprehensive Risk Management Software. This user-friendly platform empowers organizations of all sizes to proactively identify, assess, and mitigate risks, fostering a culture of resilience and success. RiskWatch Risk Management Software delivers a robust suite of features, including: ● Comprehensive Risk Templates: Build a customized library of risk templates tailored to your specific needs, encompassing
SMARTER RISK LAUNCHES REVOLUTIONARY AUTOMATED RISK CONTROL SOLUTION
Winston-Salem, N.C. - Smarter Risk, a risk control solutions provider, is proud to announce the launch of its newest product, Automated Risk Control (ARC) - a first-of-its-kind scalable risk control platform designed for the insurance industry. ARC delivers unmatched speed, efficiency, and cost savings by automating the entire risk assessment process, from data collection to reporting. With assessments taking just 15 minutes and turnaround times of two business days, ARC
Construction Risk Software Market is Booming Worldwide : Risk Decisions, Sword A …
2020-2025 Global Construction Risk Software Market Report - Production and Consumption Professional Analysis (Impact of COVID-19) is the latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities, and leveraging with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global Construction Risk Software Market. Some of the key players
Future Growth In Risk Analytics Market - Segmented By Material Type (Software An …
​The global risk analytics market was valued at, and is expected to reach a 2023 at a CAGR of +13%, during the forecast period (2018-2023). The market is segmented by type of offering, applications, end-user vertical, and geography. This report focuses on adoption of these solutions for various applications various regions. The study also emphasizes on latest trends, industry activities, and vendor market activities. Approximately 73% of the banks are
Risk Analysis and Risk Management for Public Private Partnerships
Practical Seminar, 21st – 22nd March 2013, Berlin For many public institutions that plan new projects in the sectors of public buildings, infrastructure or energy and waste, Public Private Partnerships are an attractive alternative to traditional tender and delivery strategies. However, risks in PPPs have to be identified, analysed and allocated to the right partner before embarking on a project. • What is risk • What types of risks exist for which type of
Online Risk Check Analyzes Weighing Risk in Minutes
Mettler Toledo, the leading manufacturer of precision instruments, developed the Risk Check: An online tool to analyze the weighing risk of balances from all kinds of manufacturers. The Risk Check defines the weighing risk to optimize the performance and quality of a balance. It is based on the international weighing guideline Good Weighing Practice (GWP), which is appropriate for persons in charge of quality management in the pharmaceutical, chemical and