Global Third Party Risk Management Market Trends and Forecast

Global Third Party Risk Management Market Trends and Forecast | 2035

Postado 2025-11-03 10:25:14

The global market for Third-Party Risk Management (TPRM) is on a strong and sustained growth trajectory, but this expansion is not being captured uniformly across the diverse ecosystem of software and data providers. A strategic analysis of the Third party Risk Management Market Growth Share by Company reveals a clear and powerful trend: the fastest-growing segments are those related to continuous, data-driven monitoring, particularly in the realm of cybersecurity risk. The companies that offer automated, external, and real-time insights into a vendor's risk posture are capturing a disproportionate share of new revenue and market attention, often displacing or augmenting traditional, questionnaire-based assessment methods. The Third party Risk Management Market size is projected to grow USD 10.5 Billion by 2035, exhibiting a CAGR of 6.22% during the forecast period 2025-2035. Understanding how this substantial growth is being allocated is key, as it highlights a fundamental shift in the market from a periodic, compliance-driven activity to a continuous, proactive, and data-centric discipline, with the value flowing towards vendors who can provide real-time intelligence rather than static assessments.

A massive portion of the market's growth share is being captured by the security rating and continuous monitoring platforms, with companies like SecurityScorecard and Bitsight leading the charge. Their explosive growth is a direct result of their innovative and highly scalable approach to assessing third-party cyber risk. Instead of relying on slow, subjective, and point-in-time security questionnaires, their platforms continuously and non-intrusively scan the external attack surface of a company and its vendors, using this data to generate an objective, easy-to-understand security score. This provides their clients with real-time, ongoing visibility into the cyber hygiene of their entire supply chain, a capability that traditional TPRM methods cannot match. This "outside-in" data-driven model is a powerful value proposition, allowing organizations to scale their third-party monitoring efforts from dozens of critical vendors to thousands. Their growth is fueled by the increasing number of high-profile data breaches that have originated from a compromised third party, which has created an urgent demand for this kind of continuous, automated monitoring.

While the security rating platforms capture the high-growth cybersecurity monitoring segment, another significant share of the market's expansion is being won by the major integrated GRC and TPRM platform providers, such as OneTrust and Diligent. Their growth is driven by the enterprise need for a single, unified "system of record" to manage the entire third-party lifecycle, from onboarding and due diligence to ongoing monitoring and issue remediation. They are capturing growth by expanding their platforms to ingest the data from the security rating providers and other data sources (like financial risk data), and to position themselves as the central "hub" that can orchestrate the entire TPRM program. Their growth is a function of their ability to sell a complete, end-to-end workflow solution to large, mature organizations that are moving beyond basic monitoring and are looking to build a comprehensive, auditable, and enterprise-wide risk management program. In contrast, the growth of older, legacy GRC tools that lack strong, continuous monitoring capabilities and have a clunky user interface is stagnating, highlighting the market's decisive shift towards modern, cloud-native, and data-driven platforms.