SPARK Matrix™: Vendor Risk Management (VRM), 2024

QKS Group’s Vendor Risk Management (VRM) market research includes a detailed analysis of the global market regarding short-term and long-term growth opportunities, market trends, and future market outlook. This research provides strategic information for service vendors to better understand the existing market, supporting their growth strategies; and for users to evaluate different vendors’ capabilities, competitive differentiation, and market position.

The research includes detailed competition analysis and vendor evaluation with the proprietary SPARK Matrix analysis. SPARK Matrix includes ranking and positioning of leading Vendor Risk Management (VRM) vendors, with a global impact. The SPARK Matrix includes an analysis of vendors, including Allgress, Aravo Solutions, Archer Integrated Risk Management, BitSight, Coupa Software, Diligent, Exiger, Fusion Risk Management, IBM, LogicGate, LogicManager, MetricStream, NAVEX, OneTrust, Prevalent (By Mitratech), ProcessUnity, Resolver, SAI360, ServiceNow, SureCloud, and Venminder (by Ncontracts).

According to Sahil Dhamgaye, Analyst at QKS Group, "The VRM market continues to evolve at a rapid pace, fueled by growing concerns over the risks associated with increasingly complex and globalized supply chains. As organizations face heightened scrutiny around data privacy, cybersecurity, and regulatory compliance, the demand for comprehensive VRM solutions is stronger than ever. New and evolving regulations, such as GDPR, CCPA, and industry-specific standards, have driven businesses to enhance their third-party risk management strategies. Additionally, the accelerating pace of digital transformation and the shift toward hybrid and remote work environments have made managing vendor risks more challenging. This growing complexity, along with a dynamic landscape and the expanding reliance on third-party relationships across industries will ensure continued market growth as organizations seek more sophisticated and proactive solutions to mitigate vendor-related risks.”

Table of Contents

Executive Overview

• Key Research Findings

Market Overview

Competitive Landscape and Analysis 

• Key Competitive Factors and Technology Differentiators

SPARK Matrix™: Vendor Risk Management (VRM), 2024

Vendor Profiles

Research Methodologies

Custom Research Service

Our custom research service is designed to meet the client’s specific requirements by providing a customized, in-depth analysis of the technology market to meet your strategic needs. Further, our custom research and consulting services deliverable is uniquely effective, powerful, innovative, and realistic to help companies successfully address business challenges. Our team of experienced consultants can help you achieve short-term and long-term business goals in the following ways:

• Detailed understanding of the industry structure, market participants, and value chain mapping
• Business potential and opportunities of target markets, economies, and industries
• Strategic planning and tactical opportunities
• Go-to-market strategies