GDPR Services Market was valued at USD 1.25 Billion in 2021, and it is expected to reach USD 5.12 Billion by 2029, exhibiting a CAGR of 19.27 % during the forecast period (2022-2029)
GDPR Services Market Overview:GDPR (General data protection regulation) represents a new data protection legislation that was executed in the EU in May 2018. The regulation regulates a comprehensive spectrum of privacy legislations across the EU into a central suite of regulations to protect users through all member states by providing more control to European citizens over their data. GDPR relates to every company operating in the EU as well as initiatives that are located in other regions but serving EU customers with their goods and services. Growth of huge amounts of data thanks to the deployment by cloud service suppliers coupled with growing demand for data security that provides automated decision-making solutions are studied to be the major dynamic factor for the GDPR Services Market size over 2022-2029. Such as, as per the IBM Corporation report, it is shown that the social services and healthcare sectors currently have the highest volume of weekly attacks, strictly followed by the hospitality and transportation sectors. This tends to take significant growth in its demand boosting the global market for GDPR Services. To know about the Research Methodology :- Request Free Sample Report
GDPR Services Market Dynamics:GDPR Services Market dynamics are thoroughly studied and explained in the MMR report, which helps the reader to understand emerging market trends, drivers, restraints, opportunities, and challenges at the global and regional levels for the GDPR Services Market. Organizations are producing an exponential amount of data as a result of growing connectivity and ongoing digitization. People visiting places, websites, or even making calls are leaving a digital footprint as data, which is a precious source that can be misused by companies to communicate with customers and deliver a boosted user experience. However, the expensive nature of personal data also makes it exposed to misuse or theft, rising concerns over the way enterprises store and use the data. The problem results in the privacy and data security concerns for customers. There is a prominent disconnection and gap between customers, their data and the way enterprises collect or use it. Lack of knowledge of current legislation and the best application appropriate to the use of personal data enhances the situation. Furthermore, the EU's current data privacy laws are antiquated, poorly safeguard consumers, and do not take into account the use of smartphones, social media, or cutting-edge digital technologies like virtual reality and artificial intelligence. The GDPR was created as a result of the urgent necessity to control the management of consumer data while monitoring the entities that collect, store, and use the data. Growth in market value is driven by rapid urbanization, modernization, and globalization. In other words, the GDPR services market will have a lot of potentials to grow thanks to the rising demand for criteria such as privacy, security, authenticity, legality, trust, universality, and scalability in organisational operations and quality monitoring. Other market growths include growing industrial infrastructure and rising smartphone adoption in developing economies. The consequences of violating GDPR might include forfeitures or the loss of a company's business licence in the EU. Whereas the high costs related to implementing GDPR results and services may reduce SMEs' profit margins, some SMEs may benefit from working with MSPs to comply with the new regulations. The report's in-depth analysis of the restraints illustrates how they differ from drivers and provides room for creative strategy. The factors that cast a shadow over the market's expansion are directly opposed since they can be understood to chart entirely different courses for seizing the lucrative opportunities that the market's constant expansion offers.
GDPR Services Market Trends:• The GDPR service market's growing demand for cloud computing and the internet of things is expected to be more productive and capable of offering end consumers enhanced products. • Cloud computing adoption is booming, new and innovative technology is being adopted more frequently, and organisations around the world are placing a lot of focus on doing away with traditional methods and paperwork, all of which point to a promising future for growth. • The level of investment in research and development needs to increase if information technology advances are to occur. • The market will also benefit from the increasing integration of artificial intelligence and machine learning technologies, as well as from the rise in remote working and ongoing digital transformation. Future of Data Privacy: The pandemic has made people more aware of the value of digitization. Increased internet data usage, storage, and accessibility are required. The number of breaches and the likelihood of data loss is also directly related. As a result, many predicted data security trends may have an impact on security laws and GDPR compliance standards in 2022. Strict Government Regulations: Companies must follow the severe laws and regulations contained in GDPR. In the event of a violation, businesses are subject to steep fines and even risk having their licenses revoked. This is anticipated to motivate businesses to spend money on GDPR services and open doors for GDPR service providers.
GDPR Services Market Segment AnalysisMMR provides an analysis of the key trends in each segment and sub-segment of the global GDPR services market, along with forecasts at the global, regional, and country-level from 2022-2029. Our report has segmented the market based on offering, and organization size. Large Enterprises Segment Held The Largest Market Share Of 42.4% in 2021: Based on the organization size, the market is categorized into SMEs and Large Enterprises. The Large Enterprises segment dominated the GDPR Services market and accounted for the largest revenue share of 42.4% in 2021. Large enterprises are projected to benefit from GDPR's cost-effective innovation and increased efficiency. These businesses should benefit from their adaptable structures and sufficient financial resources. The Professional Services segment is expected to account for the largest 23% market share by 2029. The Professional Services segment is expected to grow at the largest CAGR of 20.46% during the forecast period thanks to the ambiguity around GDPR across organizations. Analyses of GDPR readiness, risk, and DPIAs, as well as DPO-as-a-Service, training, and certification, are professional services for GDPR. Professionals meet the organization security needs by using cutting-edge methods, all-encompassing tactics, and expertise. Additionally, they provide tailored GDPR solution deployment, risk assessment, and guidance using industry-defined industry standards.
GDPR Services Market Regional InsightsEurope to Retain Lead through 2029: Europe is expected to hold the largest share of the GDPR services market by 2029 thanks to the high acceptance of the GDPR in the EU. Companies in these countries are compelled to conform to the regulation. Since the EU's new privacy law comes into full effect until May 2019, approximately 65,000 notifications of cybersecurity incidents have been sent to European privacy authorities. Additionally, regulators in 11 European countries have issued GDPR fines totaling USD 63 million. The number of data breach notifications in the UK has decreased by 17% to 11,499. In contrast, the number of notifications increased significantly in France (97% more to 2,287) and Spain (58% more to 1,608 notifications) compared to the first year of the GDPR. The new Cyber Security Law was introduced in April 2019 to increase the scope of the current regulations and add fines similar to those in the GDPR for some infractions. Organizations in Germany are expected to adopt cybersecurity solutions as a result of the hardening of government restrictions. Post-GDPR coming into effect, France made significant changes to its cybersecurity laws. For instance, telecom companies are allowed to search their networks for technological indicators of any upcoming or ongoing attack. Once unwanted cyberattacks occur, telecom providers may occasionally need to notify their customers. IoT-connected cars are in high demand in the region. This includes personal information that can be used to track a person. Then there is smart metering, which makes use of individual data on household energy use trends. Owing to the GDPR's impact on the region, it is now crucial for businesses that offer linked solutions to end users to secure user data. It is expected that this will increase demand for GDPR services. North America Is the Second Largest Region In Terms Of Growth in GDPR Services Market: In terms of market share, North America is the second-largest market for GDPR services globally. The largest market for GDPR services is the US. Businesses based in North America that serve customers in Europe must abide by GDPR. Many businesses with headquarters in North America work with clients who live in Europe. Among the well-known companies having a sizable consumer base in Europe are General Electric, Goldman Sachs, McDonald's, and DuPont.
GDPR Services Market Competitive Landscape:Key players in the GDPR Services market have adopted various strategies to expand their global presence and increase their market shares. Partnerships, agreements, mergers and acquisitions, and new product developments are some of the major strategies adopted by the market players, to achieve growth in the GDPR Services market. For Example, • For enterprises to manage their cloud security strategy, standards, and controls in hybrid cloud settings, IBM Security announced new and improved services in 2021. Businesses can develop consistent security solutions throughout their cloud ecosystems with the use of third-party and cloud-native technology, as well as IBM expertise. • Microsoft Corporation issued many fresh assessments as part of the Microsoft Compliance Score public preview in January 2020. By utilizing a group of data protection experts and a common control structure with more than 1,000 controls, the firm gained exclusive insights into Microsoft Compliance.
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GDPR Services Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 1.25 Bn. Forecast Period 2022 to 2029 CAGR: 19.27% Market Size in 2029: US $ 5.12 Bn. Segments Covered: by Offering • Solutions • Data Management Solution
o Data Discovery and Mapping o Data Governance• API Management • Services • Professional Services
o GDPR Readiness Assessment o Risk Assessment and DPIA o DPO-as-a-Service o Training and Certification• Managed Services
by Organization Size • SMEs • Large Enterprises
GDPR Services Market Key Players:• IBM • Veritas • AWS • Microsoft • Micro Focus • Absolute Software • Capgemini • Informatica • Iron Mountain • Mimecast • OneTrust • Oracle • Proofpoint • Protegrity • SAP • SAS Institute • Symantec • Talend • TrustArc • Trustwave • Varonis Frequently Asked Questions: 1] What segments are covered in the Global GDPR Services Market report? Ans. The segments covered in the GDPR Services Market report are based on Offering and Organization Size. 2] Which region is expected to hold the highest share in the Global GDPR Services Market? Ans. Europe region is expected to hold the highest share in the GDPR Services Market. 3] What is the market size of the Global GDPR Services Market by 2029? Ans. The market size of the GDPR Services Market by 2029 is expected to reach US$ 5.12 Bn. 4] What is the forecast period for the Global GDPR Services Market? Ans. The forecast period for the GDPR Services Market is 2022-2029. 5] What was the market size of the Global GDPR Services Market in 2021? Ans. The market size of the GDPR Services Market in 2021 was valued at USD 1.25 Bn.
1. Global GDPR Services Market Size: Research Methodology 2. Global GDPR Services Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global GDPR Services Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global GDPR Services Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global GDPR Services Market Size Segmentation 4.1. Global GDPR Services Market Size, By Offering (2021-2029) • Solutions Data Management Solution o Data Discovery and Mapping o Data Governance API Management • Services Professional Services • GDPR Readiness Assessment • Risk Assessment and DPIA • DPO-as-a-Service • Training and Certification Managed Services 4.2. Global GDPR Services Market Size, By Organization Size (2021-2029) • SMEs • Large Enterprises 5. North America GDPR Services Market (2021-2029) 5.1. North America GDPR Services Market Size, By Offering (2021-2029) • Solutions Data Management Solution o Data Discovery and Mapping o Data Governance API Management • Services Professional Services • GDPR Readiness Assessment • Risk Assessment and DPIA • DPO-as-a-Service • Training and Certification Managed Services 5.2. North America GDPR Services Market Size, By Organization Size (2021-2029) • SMEs • Large Enterprises 5.3. North America GDPR Services Market, by County (2021-2029) • United States • Canada 6. European GDPR Services Market (2021-2029) 6.1. European GDPR Services Market, by Type (2021-2029) 6.2. European GDPR Services Market, By Organization Size (2021-2029) 6.3. European GDPR Services Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific GDPR Services Market (2021-2029) 7.1. Asia Pacific GDPR Services Market, by Type (2021-2029) 7.2. Asia Pacific GDPR Services Market, By Organization Size (2021-2029) 7.3. Asia Pacific GDPR Services Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa GDPR Services Market (2020-2029) 8.1. Middle East and Africa GDPR Services Market, by Type (2021-2029) 8.2. Middle East and Africa GDPR Services Market, By Organization Size (2021-2029) 8.3. Middle East and Africa GDPR Services Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America GDPR Services Market (2020-2029) 9.1. South America GDPR Services Market, by Type (2021-2029) 9.2. South America GDPR Services Market, By Organization Size (2021-2029) 9.3. South America GDPR Services Market, by Country (2021-2029) • Brazil • Mexico • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. IBM. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Veritas 10.3. AWS 10.4. Microsoft 10.5. Micro Focus 10.6. Absolute Software 10.7. Capgemini 10.8. Informatica 10.9. Iron Mountain 10.10. Mimecast 10.11. OneTrust 10.12. Oracle 10.13. Proofpoint 10.14. Protegrity 10.15. SAP 10.16. SAS Institute 10.17. Symantec 10.18. Talend 10.19. TrustArc 10.20. Trustwave 10.21. Varonis