PUBLISHER: Orion Market Research Pvt Ltd | PRODUCT CODE: 1215586
PUBLISHER: Orion Market Research Pvt Ltd | PRODUCT CODE: 1215586
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Title:Global General Data Protection Regulation (GDPR) Services Market Size, Share & Trends Analysis Report by Deployment Model (On-Premise and Cloud), by Size (Small and Medium Enterprises, Large Enterprises), and by End-User (Aerospace and Defense, BFSI, Government, Healthcare, IT and Telecom, Manufacturing, Others) Forecast Period (2022-2028).
The Global GDPR services market is anticipated to grow at a considerable CAGR of 19.1% during the forecast period. The key driver driving market expansion is the growing necessity for businesses to comply with the EU's GDPR. Furthermore, the constant creation of massive volumes of data has heightened the demand for improved data security and privacy. This, combined with the increasing frequency of cybersecurity assaults around the world, is accelerating demand for GDPR services. Furthermore, the industry is being propelled forward by the rising demand for data processing transparency to increase security service delivery and organizational reputation.
The global GDPR services market is segmented based on deployment mode, size, and end-user industry. Based on the deployment type, the market is segmented into on-premise and cloud. Based on the size, the market is segmented into small and medium enterprises, and large enterprises. Small and medium enterprises (SMEs) are estimated to be financially impacted when registering for GDPR services because large corporations have the means to invest in their IT and legal teams for ultimate compliance, whereas SMEs do not. Based on end-user, the market is segmented into aerospace and defense, BFSI, government, healthcare, IT and telecom, manufacturing, and others.
The global GDPR services market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, France, Spain, Germany, and the Rest of Europe), Asia-Pacific (India, Japan, China, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East and Africa, and Latin America). Europe is anticipated to hold a prominent share in the global GDPR services market. Since the EU's new privacy regulation went into force in May 2018, European privacy authorities have received approximately 65,000 data breach notifications. Regulators in 11 European nations have also issued GDPR fines totaling USD 63 million. The number of data breach notifications in the United Kingdom has decreased by 17% to 11,499. In contrast, numbers nearly doubled in France, with 2,287 notifications, a 97% raise, and surged in Spain, with 1,608 notifications, a 58% increase over the first year of GDPR.
The key players operating in the global GDPR services market include Acumatica, Inc., IBM Corp., Epicor Software Corp., Microsoft Corp., and Oracle Corp. among others. These market players are adopting various growth strategies such as technological advancement, partnerships, collaborations, mergers & acquisitions among others to sustain a strong position in the market. For an instance, in January 2020, Microsoft Corp. announced numerous new assessments in the public preview of the Microsoft Compliance Score. The organization developed unique insights into Microsoft Compliance by leveraging a team of data protection professionals and a shared control framework with over 1,000 controls.
Research Methodology
The market study of the global GDPR services market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
Secondary Sources Include:
The report is intended for software companies, IT companies, government organizations, transportation, and logistics companies, software companies, research institutes and universities, other related companies, and government organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
Global GDPR services Market Research and Analysis by Deployment.
Global GDPR services Market Research and Analysis by Size.
Global GDPR services Market Research and Analysis by End-User Industry.
The Report Covers: