Market Synopsis:
Market Research Future (MRFR)’s study has found out that the global GDPR services market is expected to thrive at 26.3% CAGR over the assessment period 2019 to 2023. The market’s valuation is studied to grow from USD 987.4 Mn in 2019 to USD 3,177.6 Mn by the end of 2023. Increasing shift towards digitization has led to the generation of vast amounts of data across different industry verticals. This, in turn, has intensified the need for securing and protecting the information generated. It is poised to support the proliferating applications of the General Data Protection Regulation (GDPR) services.
The organizations are leveraging GDPR services for the protection of brand reputation. It is anticipated to augment the GDPR services market over the next couple of years. The number of cybersecurity attacks is on the rise which is motivating the growth trajectory of the market. Also, the integration of advanced technologies such as AI, IoT, etc. are forecasted to expedite the expansion of the GDPR services market across the review period.
The secured storage of data by big organizations poses a challenge to the managers. The introduction of cloud technology is likely to act as a growth catalyst for the market participants of the GDPR services market in the years to come. However, the lack of technical expertise being observed in the SMEs is likely to check the expansion of the GDPR services market over the assessment period.
Market Segmentation:
By component, the global GDPR Services Market has been segmented into solutions and services. The solutions segment has been sub-segmented into data governance, data discovery and mapping, and API management. The services segment has been further segmented into GDPR readiness assessment, data protection officer (DPO) as a Service, risk assessment and data protection impact assessment (DPIA), and managed services.
By organization size, the GDPR services market has been segmented into large enterprises and SMEs.
By industry vertical, the global GDPR services market has been segmented into BFSI, education, retail and eCommerce, government and public administration, media and entertainment, healthcare, travel and hospitality, and others.
Competitive Dashboard:
The prominent players of the global GDPR Services Market profiled in this report are IBM (US), AWS (US), Micro Focus (UK), Veritas (US), Capgemini (France), Microsoft (US), Absolute Software (Canada), Mimecast (UK), Informatica (US), Iron Mountain (US), Proofpoint (US), Oracle (US), and Trustwave (US).
Regional Analysis:
The global GDPR services market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). MRFR’s report has asserted that Europe is Expected to dominate the growth trajectory of the global market over the assessment period. The introduction of new GDPR in the region is expected to catalyze the growth of the market in the region. North America is also prognosticated to exhibit positive growth owing to rapid installation all across the region.
Industry News:
In April 2019, the European Data Protection Supervisor (EDPS)has launched a probe into cloud and software deals between Microsoft and EU institutions for ensuring that they are GDPR compliant.
In April 2019, Information Commissioner’s Office (ICO), the U.K., has launched the beta version of a new service, Sandbox, that enables the organizations to test new services without running foul of GDPR.
In April 2019, South Korean hospital Gil Medical Center has created a blockchain medical data platform powered by Insilico Medicine, Longenesis and biotechnology company. The platform also aims at compliance with the General Data Protection Regulation (GDPR) regulations as the hospital also serves foreigner patients.
In September 2019, Hotstar, an Indian digital, and mobile entertainment platform, has launched its services in the U.K. and has implemented Europe’s General Data Protection Regulation (GDPR).
LIST OF TABLES
Table1 Global GDPR Services Market, By Region, 2019-2023
Table2 Europe GDPR Services Market, By Country, 2019-2023
Table3 North America GDPR Services Market, By Country, 2019-2023
Table4 Asia-Pacific GDPR Services Market, By Country, 2019-2023
Table5 Rest Of The World GDPR Services Market, By Country, 2019-2023
Continued…….
LIST OF FIGURES
FIGURE 1 Global GDPR Services, Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global GDPR Services Market
FIGURE 4 Value Chain Of Global GDPR Services Market
FIGURE 5 Share Of Global GDPR Services Market, By Country, 2019 Vs 2023
Continued……
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