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Vendor Risk Management Market to Reach USD 15.6 Billion at a 13.30% CAGR by 2032 – Report by Market Research Future (MRFR)

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Tokyo, Japan, May 01, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), ” Vendor Risk Management Market: By Component, Solutions, Deployment, Organization Size, and by End-users Forecast till 2032”, the market is predicted to thrive substantially during the assessment era from 2023 to 2032 at a healthy CAGR of approximately 13.30% to attain a valuation of around USD 15.6 Billion by the end of 2032.

Key Players 

Eminent market players profiled in the global Vendor Risk Management market report include

  • BitSight Technologies
  • CyberGRX
  • RSA Security LLC
  • ProcessUnity
  • MetricStream Inc.
  • LogicManager Inc.
  • OneTrust LLC
  • Prevalent Inc.
  • RiskRecon
  • Aravo Solutions Inc.

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Vendor Risk Management Market Report Scope:

Report Metrics Details
Vendor Risk Management Market Size by 2032 USD 15.6 billion (2032)
Vendor Risk Management Market CAGR during 2023-2032 13.30%
  Base Year 2022
  Forecast 2023-2032
 Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
 Key Market Drivers The growth is due to high-level expertise in the cloud deployment of vendor risk management.

Asia Pacific is also anticipated to be the fastest growing region in the vendor

Drivers

The growth of the Vendor Risk Management market can be attributed to the increasing need for organizations to manage risks associated with third-party vendors, suppliers, and contractors. The rise of cyber-attacks, data breaches, and regulatory compliance requirements are also driving factors for the growth of the market.

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Recent Developments and Opportunities

In recent years, several developments have been made in the VRM market. For instance, in December 2022, RSA Security LLC announced the launch of its new VRM solution, RSA Archer Vendor Risk Management, which enables organizations to assess, manage, and monitor risks associated with third-party vendors. Similarly, in September 2021, CyberGRX announced the launch of its new AI-powered VRM solution, CyberGRX Assess, which automates the vendor risk assessment process and improves the accuracy and efficiency of risk management.

There are several opportunities in the Vendor Risk Management Market, including the increasing adoption of AI and ML in VRM solutions, the adoption of cloud-based VRM solutions, and the development of VRM solutions for SMEs.

In conclusion, the Vendor Risk Management Market is expected to reach USD 9.3 billion by 2028 due to the increasing need for organizations to manage risks associated with third-party vendors. However, the market also faces several challenges that need to be addressed. The adoption of AI and ML in VRM solutions and cloud-based VRM solutions present significant opportunities for the growth of the market.

Challenges

However, the VRM market faces several challenges, including the lack of standardization in VRM solutions, the difficulty in identifying and assessing risks associated with third-party vendors, and the high cost of implementing and maintaining VRM solutions.

Market Segmentation

The global Vendor Risk Management Market is segmented by component, deployment, organization size, industry vertical, and region. By component, the market is segmented into solutions and services. By deployment, the market is segmented into on-premises and cloud. By organization size, the market is segmented into large enterprises and SMEs. By industry vertical, the market is segmented into BFSI, healthcare, IT and telecom, government and defense, retail and consumer goods, and others.

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Industry Trends

One of the key trends in the Vendor Risk Management Market is the increasing use of artificial intelligence (AI) and machine learning (ML) to automate the vendor risk assessment process and improve the accuracy and efficiency of risk management. Another trend is the adoption of cloud-based VRM solutions that enable organizations to manage risks associated with third-party vendors more effectively and efficiently.

Regional Analysis

The global Vendor Risk Management Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to dominate the market during the forecast period due to the presence of several key players in the region and the increasing adoption of VRM solutions by organizations to manage risks associated with third-party vendors.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Contact Us:

Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: [email protected]
Website: https://www.marketresearchfuture.com
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IG Canada Announces Enhanced Trading Platform for Enhanced User Experience

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Meta description : Explore IG Canada’s advanced trading platform, educational resources, and robust security features. Achieve your trading goals with the innovative tools.
NOTTINGHAM, England, April 25, 2024 /PRNewswire/ — IG Canada, a premier online trading platform, is pleased to announce significant enhancements to its trading technology, designed to empower both novice and experienced traders with superior tools and resources. This development is part of IG Canada’s commitment to providing the best trading experience in the Canadian market.

IG Canada has upgraded its platform with advanced features that streamline trading processes and improve the accuracy of trade execution. These enhancements include customizable charts, a wider range of indicators, and improved mobile access, ensuring traders can operate efficiently from anywhere at any time.
Recognizing the importance of education in trading success, IG Canada has expanded its educational resources. The brokerage now offers a comprehensive learning center featuring webinars, tutorials, and articles that cater to various skill levels. These resources are designed to help traders develop robust trading strategies and improve their market knowledge.
Security remains a top priority for IG Canada. The latest updates include enhanced encryption and multi-factor authentication to protect client data and funds. These security measures provide peace of mind for traders, knowing their investments are safeguarded against potential threats.
IG Canada is a leading online brokerage that provides trading services across multiple asset classes, including forex, stocks, commodities, and indices. With a focus on innovation and customer service, IG Canada is committed to helping Canadian traders achieve their investment goals through a transparent and efficient trading environment.
In addition, IG Canada is committed to engaging with the community through upcoming webinars, live events, and partnerships with local financial experts. These initiatives are designed not only to support the growth and education of the clients but also to foster a stronger, more connected trading community in Canada.
Press Contact:Contact Name: Timothy C. SherwinEmail: [email protected] Phone: +447 441425053

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Sentrycs Now Part of the UK National Protective Security Authority Catalog of Security Equipment

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This inclusion into the NPSA CSE marks a significant milestone in the company’s commitment to enhancing national and international airspace security and to leading the C-UAS market toward multi-layer strategy optimization and excellence.
TEL-AVIV, Israel, April 25, 2024 /PRNewswire/ — Sentrycs, a leading innovator in adaptive counter-drone solutions, is proud to announce its inclusion in the prestigious UK National Protective Security Authority Catalogue of Security Equipment (NPSA CSE).
 
Following a rigorous assessment process, Sentrycs’ cutting-edge Counter Unmanned Aerial Systems (C-UAS) solution has met the high standards set by the NPSA for Detection, Tracking, and Identification (DTI). The testing, conducted at the NPSA’s designated testing facilities in August 2023, rigorously evaluated the Sentrycs system against the NPSA’s DTI Testing and Evaluation Standard v3.1.
Sentrycs elected to be assessed under Configuration D as a 3D system with Ground Control Station (GCS) detection capability and platform identification capability, which is the most demanding test scenario with the highest number of scored parameters.
The Sentrycs system demonstrated exceptional capabilities in various security scenarios, showcasing its robustness in detecting and tracking with high accuracy and zero false alarms. The system’s innovative use of cyber techniques to extract data from targets and its streamlined human-machine interface were especially noted for their efficiency and ease of use.
“Our team is proud to have Sentrycs recognized by the UK National Protective Security Authority,” said Yoav Zaltzman, CEO of Sentrycs. “Being listed in the CSE is not just an honor; it’s a testament to our technology’s reliability and effectiveness in contributing to the ever-changing airspace security landscape.”
Sentrycs’ technology is now accessible through the NPSA CSE, providing security practitioners with verified solutions that meet the UK’s rigorous security standards. This inclusion not only underscores Sentrycs’ role in advancing security technology but also enhances its visibility and credibility on a global stage.
For more details on Sentrycs’ solutions and their impact, visit www.sentrycs.com.
For further information regarding the NPSA and the Catalog of Security Equipment, please visit the NPSA’s official website.
About Sentrycs
Sentrycs is a leader in adaptive counter-drone solutions, supported by innovative technology designed to passively identify, mitigate, and where necessary, intercept unauthorized drones custom-built for various environments – including airports, borders, prisons, critical infrastructure, and mass events. Founded in 2017, Sentrycs’ has offices in Israel and the US, serving customers worldwide. By uniting its field-proven technology and expertise in global drone environments, Sentrycs is leading the way towards a safer and more secure drone-driven future. Learn more at www.sentrycs.com
Video – https://www.youtube.com/watch?v=YBuhpTq5QuM

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Homestyler to Recruit First Batch of Global Partners in 20 Countries

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MILAN, April 25, 2024 /PRNewswire/ — Homestyler, a leading all-in-one 3D Design platform and creative community for global designers invested by Easyhome New Retail Group and Alibaba Group, successfully hosted the Homestyler Global Partners Conference and Gorgeous Home Imported Brand Investment Promotion Conference from April 18 to 19 on the sidelines of the 2024 Salone del Mobile Milano, the world’s leading furniture fair.

Easyhome is at the forefront, driving the transformation of the home furnishing industry into a full-service platform. It has developed a tailored solution for global brands called Gorgeous Home, which includes supportive policies and has established local distribution and service networks in international markets. During the conference, Homestyler unveiled a suite of digital products enhanced by 3D and AI technologies, including cloud-based design tools, virtual livestreaming that can alter and restore furnishing scenes to true-to-life scale, a 3D Floor Planner, a 3D Virtual Studio, and a 3D Interactive Panorama, among others. The event also marked the signing ceremony with the first group of global partners.
The Global Partners Program is a key milestone of Homestyler’s roadmap towards global commercialization. It has established close partnerships with around 1,000 global home furnishing companies and design institutions to provide solutions for digital transformation. The first global partners from more than 20 countries and regions will collaborate to explore content creation and marketing potential to deliver effective growth.
In addition, Homestyler shared the unique advantages of its software and cloud designing tools, particularly in cloud rendering, free modeling capabilities, 3D model and material libraries, one-stop workflow, and user-friendliness.
“The core technologies and products of Homestyler extend through all links both online and offline and deeply converge physical experience with digital technologies, such as attracting customers, content design and creation, interactive scene, check-out tracking and more, and we continue to optimize and enhance the 3D scenario shopping experience to empower the transformation and upgrading of the global home furnishing industry,” said Ma Xingjian, head of Homestyler’s overseas business.
Looking ahead, Easyhome and Homestyler aims to establish an international service, regional distribution and dealership system, serving as a bridge between global designers and home furnishing companies worldwide to enable designers residing in different countries and regions to highlight their 3D design solutions and boost shopping experience for the consumers.
As a creative hub for global designers, Homestyler continually expands its model library with home furnishing products from around the world and provides the latest in 3D and AI technologies to help companies promote their products across various channels. Companies such as P Life Concept London, Lahoma Ltd., and Tecnobit S.r.l. are leveraging Homestyler products to enhance the online shopping experience and increase efficiency on their websites. Homestyler plans to introduce more B2B digital products and services, including advanced 3D tools for designing, modeling, rendering, virtual studio shooting, and livestreaming. “Homestyler will further advance our international development: we are planning to establish industry-academy cooperation with Italy’s top design institution, the Polytechnic University of Milan, and the relationship with ADI. With the launch of Global Partners Program, Homestyler will continue to invest in supporting policies and boost international influence through various cooperation programs, to achieve the goal of providing better design services for users globally,” said Xu Min, general manager of Homestyler.
For more information, please visit https://www.homestyler.com.
About Homestyler
Homestyler was jointly invested in by Easyhome New Retail Group and Alibaba Group. It is dedicated to provide 3D cloud design tools for designers worldwide and delivering a comprehensive suite of 3D+AI digital solutions to the furniture and home furnishing industry.

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