Vendor Risk Management Market Size

Vendor Risk Management Market size was over USD 10.59 billion in 2024 and is poised to exceed USD 65.9 billion by 2037, witnessing over 15.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of vendor risk management is evaluated at USD 11.87 billion.

The expansion of this sector can be ascribed to the escalating number of third-party vendors in numerous enterprises, as they have found that their systems and processes relating to the VRM are not adequate from purely a business perspective. Therefore, it may lead to significant damage owing to an improper vendor risk management framework.

Furthermore, factors behind the growth of vendor risk management market for vendor risk management market consist of a surge in government initiatives and enforcement by agencies such as the Comptroller of the Currency (OCC), the Health Insurance Portability and Accountability Act (HIPAA), the Consumer Financial Protection Bureau (CFPB) to set up better vendor risk management framework.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of vendor risk management is evaluated at USD 11.87 billion.

The vendor risk management market size was over USD 10.59 billion in 2024 and is poised to exceed USD 65.9 billion by 2037, witnessing over 15.1% CAGR during the forecast period i.e., between 2025-2037. The growing need for efficient management of vendor ecosystems, increasing third-party providers in organizations, and demand for streamlined risk management processing will fuel the market growth.

North America industry is anticipated to dominate majority revenue share of 32% by 2037, attributed to increasing number of security breaches caused by the increased number of independent suppliers within smaller or larger organizations.

The major players in the market are BitSight Technologies, Inc., Genpact, SAI Global, IBM Corporation, Rapid Ratings International Inc., ProcessUnity, Inc., LogicManager, Inc., Aravo Solutions, Inc., ACL Services Ltd.

Vendor Risk Management Market Size