Market Research Report
Global GDPR Services Market Size - Segmented by Deployment Type, Offering Type, End User, and Region - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||707296|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|Global GDPR Services Market Size - Segmented by Deployment Type, Offering Type, End User, and Region - Growth, Trends, and Forecast (2018 - 2023)|
|Published: August 1, 2018||Content info: 110 Pages||
The global GDPR Services Market is expected to register a CAGR of 22.14%, during the forecast period (2018 - 2023). The report profiles the Types of Offerings by Services and Solutions of GDPR services for various end users.
The market for GDPR Services is increasing at significant rate, due to the increasing adoption of Artificial Intelligence and machine learning technologies, rapid deployment of IoT and connected infrastructure, proliferation of digital automated devices, and rising uniqueness in attacking techniques (which is increasing vulnerability of data). Also, the increasing volumes of data generated by different enterprises is one of the key factor driving the market for GDPR services. Currently, storing the personal data securely has become the most important task for big organizations, especially with the continuous advancements in technology. The prevalence of cyber security attacks is increasing, and these attacks bypassing the traditional security tools, which direct led to an increase in the demand for advanced protection techniques, such as GDPR services. For an instance, According to Heimdal Security, MyDoom, which was first spotted in 2004, is considered to be the most expensive virus in the world and cyber security history, having caused an estimated financial damage of USD 38.5 billion.
The public cloud is based on the standard cloud computing platforms these type of services is comparatively inexpensive to the private cloud, as the cloud is shared among multiple users. Companies are now shifting toward public clouds to reduce the cost and overhead expenses. Conversely, security concerns over data are hindering the growth in this segment. However, with continuous development and innovations in technology, service providers are offering better security with end-to-end encryption and monitoring services.
Organizations, globally, are increasingly facing identity data breaches owing to frauds. Thus, strong authentication-based fraud detection solutions platforms aid in protecting banking and financial institution customers from the latest threats in online fraud. Cybercriminals are constantly trying to penetrate business networks and acquire customer information. This is leading to many identity thefts.
Single-factor authentication is the process of securing access to a system by using a single category of credentials. The most significant advantage of single-factor authentication is its simplicity. It is always easier to perform one action for identification, rather than many. However, a single-factor authentication is easier to hack when compared to multiple-factor authentication. The possibility of passing a security measure with an obtained factor is inversely proportional to the number of factors required. Single-factor authentication can be used in instances where high-security levels are not as vital as good throughput performance and relatively less user cooperation is required.
The North American region is projected to experience the highest growth in demand, during the forecast period (2018-2023), due to the early adoption of cloud-based technologies and IoT by the United States. However, benefits, such as improved agility and flexibility as well as being able to deploy new applications, also hold significance.
Additionally, in the United States, companies wherein employees are more than 100 in number are adopting-cloud based applications. It was estimated that nearly 35% of SMBs in the country have already deployed cloud solutions. There have been a series of collaborations, mergers and acquisitions in North America to take the advantage of this opportunity. The major driver behind the investments is the continuous evolution and application of new technologies to utilize enormous volumes that were previously considered non-commercial. For instance, IBM has partnered with MasterCard to combat GDPR with Truata. With these series of investments, communications, retail, healthcare, and manufacturing applications in North America are expected to witness a significant growth rate, over the forecast period.
May 2018: Microsoft extended the GDPR privacy rights to all its customers, globally. Due to new European Union's General Data Protection Regulation
Jun 2017: HCL Technologies announced the launch of General Data Protection Regulation (GDPR) services to help organizations comply with EU GDPR regulation. The new GDPR Regulation, which is mandated to be adopted by May 2018, extends the data rights of individuals and requires organizations to develop clear policies and procedures to protect personal data and take appropriate technical and organisational measures.
Amazon Web Services
Absolute Software Corporation
Varonis Systems Ltd
Protegrity USA, Inc.
Provides latest insights into Global GDPR Services Market
Analyzing various perspectives of the market with the help of Porter's Five Forces Analysis
To understand the dominating technology in the market
The region that is expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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