In September 2022, GlobeNewswire, Inc. released an article regarding the increasing trend of data transparency. In this article, they stated that new data shows rising demand for transparency in the U.S. government. They have also added that the volume of public record requests has raised to 74%, and the total time spent on processing requests has increased by 112% since 2018.
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Data Bridge Market Research analyses that the Global GDPR Services Market is expected to grow at a CAGR of 23.5% in the forecast period of 2023 to 2030 and is expected to reach USD 11,073,962.85 thousand by 2030. The rising generation of an enormous amount of data is projected to propel the growth of the market, and the increasing requirement for data security and privacy is expected to act as a major driving factor for the growth of the market.
Implementation of the GDPR by EU is expected to drive the market growth
In April 2016, the European Union adopted the General Data Protection Regulation (GDPR), which is the data protection law enforcement directive and other rules concerning the protection of personal data. This step taken by EU has majorly affected the organization's data policies and governance. Now, organizations cannot share user data with third parties, and if they want to share the users' data, they need to take permission from users. If they fail to do so, organizations have to pay a heavy fine, damaging operating profit margins. Hence, this regulation is all about data privacy, protection, and management, which is driving the growth of the global GDPR services market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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By Offering (Solutions, Services), Deployment Model (Cloud, On-Premises), Organization Size (Large Scale Organizations, Medium Scale Organizations, Small Scale Organizations), End-Use (BFSI, Government, Retail and e-commerce, Healthcare, Education, Manufacturing, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey, Rest of Europe, China, Japan, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines and Rest of Asia-Pacific, South Africa, U.A.E., Saudi Arabia, Kuwait, Egypt, Rest of the Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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IBM Corporation, Oracle, Microsoft, Micro Focus, SAP, Capgemini., Absolute Software Corporation, Trustwave Holdings, Inc., Dun & Bradstreet, Inc., Proofpoint, Inc., Veritas, Informatica Inc., SAS Institute Inc., Broadcom, Amazon Web Services, Inc., Mimecast Services Limited, Protegrity Inc., OneTrust, LLC., Talend, TrustArc Inc, Varonis, and Iron Mountain Incorporated among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The global GDPR services market is segmented on the basis of offering, deployment model, organization size, and end use.
- On the basis of offering, the global GDPR services market is segmented into solutions and services
In 2023, the solutions segment of offering segment is anticipated to dominate the global GDPR services market
In 2023, the solutions segment of this market will dominate the global GDPR services market owing to the increasing adoption of GDPR solutions in the various segment related to BFSI and healthcare. The solutions segment is expected to reach the highest CAGR of 23.3% in the forecast period of 2023-2030.
- On the basis of deployment model, the global GDPR services market is segmented into on premises and cloud. In 2023, the cloud segment is expected to dominate the global GDPR services market with a 65.45% share and is expected to reach USD 7,335,734.03 thousand by 2030 growing with the highest CAGR of 23.7% in the forecast period of 2023 to 2030
- On the basis of organization size, the global GDPR services market is segmented into large scale organizations, medium scale organizations and small scale organizations. In 2023, large scale organizations is expected to dominate the global GDPR services market with a 52.04% share and is expected to reach USD 5,914,959.16 thousand by 2030 growing with the highest CAGR of 23.9% in the forecast period of 2023 to 2030
- On the basis of end use, the global GDPR services market is segmented BFSI, government, retail & e-commerce, healthcare, education, manufacturing, and others. In 2023, BFSI is expected to dominate the global GDPR services market with a 30.19% share and is expected to reach USD 3,464,431.52 thousand by 2030 growing with the highest CAGR of 24.1% in the forecast period of 2023 to 2030
Major Players
Data Bridge Market Research recognizes the following companies as the major global GDPR services market players in GDPR services market are IBM Corporation, Oracle, Microsoft, Micro Focus, Capgemini, Absolute Software Corporation, Broadcom, Amazon Web Services, Inc., Mimecast Services, Dun & Bradstreet, Inc. Veritas, Proofpoint, Inc., TrustWave Holdings, Inc., Informatica, Talend, OneTrust LLC. SAP SE, SAS Institute Inc., Broadcom, TrustArc Inc, Varonis, and Iron Mountain Incorporated.
Market Development
- In January 2023, Varonis announced improved data security through least privilege automation. This development helped the company enhance its financials and positively impact the growth of the global GDPR services market
- In January 2023, TrustWave Holdings, Inc. relaunched its advanced continual threat hunt with a unique patent-pending methodology to detect unknown threats. This development helped the company enhance its financials and positively impact the growth of the global GDPR services market
- In November 2022, Talend started a partnership with Passerelle and Snowflake to provide new vertical solutions for delivering healthy data. This partnership helped the company enhance its financials and positively impact the growth of the global GDPR services market
- In February 2022, Veritas was recognized as a winner of multiple cybersecurity excellence awards. This recognition helped the company enhance its image among competitors and positively impact the growth of the global GDPR services market
- In May 2021, TrustArc Inc announced a partnership with PKWARE to provide PKWARE's data discovery tool, DG Discovery, as part of the TrustArc platform. This partnership helped the company enhance its image among competitors and positively impact the growth of the global GDPR services market
- In October 2020, SAS Institute Inc. announced a significant product and marketing partnership agreement with Microsoft. Under this agreement, Microsoft became the cloud provider for SAS' analytics products, and the vendors migrated SAS' analytics tools onto Microsoft Azure. This partnership helped the company enhance its financials and positively impact the growth of the global GDPR services market
Regional Analysis
Geographically, the countries covered in the global GDPR services market report are U.S., Canada, and Mexico in North America, Germany, U.K., France, Netherlands, Italy, Spain, Switzerland, Russia, Turkey, Belgium, and the rest of Europe in Europe, China, Japan, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, and rest of Asia-Pacific in the Asia-Pacific, U.A.E., Saudi Arabia, Israel, South Africa, Egypt, and rest of the Middle East and Africa as a part of Middle East and Africa, Brazil, Argentina and rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Europe is the dominant region in the global GDPR services market during the forecast period 2023 - 2030
In 2023, Europe dominated the global GDPR services market due to consumers' increasing adoption of data security services in large scale organizations by various developed countries in Europe region, which is increasing the region dominance in the global GDPR services market. Europe will continue to dominate the global GDPR services market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing adoption of advanced technology and the launch of new products in this region.
Asia-Pacific is estimated to be the fastest-growing region in the global GDPR services market for the forecast period 2023 - 2030
Asia-Pacific is expected to grow during the forecast period due to the presence of major market players and rapid development in data security solutions in emerging economies in this region. In addition to this, the rising level of adoption of data security by various developing countries in BFSI and healthcare sector is expected to propel the market's growth rate in this region.
COVID-19 Impact Analysis
The outbreak of COVID-19 largely impacted the cyber security industry. The global GDPR services market was, however, adversely affected by it. The imposition of the lockdown and social distancing restrictions by the government to curb the COVID-19 pandemic outbreak led to the emergence of various challenges such as the denied GDPR services, halt of various operations, stifling business growth, suspensions of new developments further limiting the industry's expansion. As the admission of COVID-19 patients in hospitals increased, numerous elective procedures were canceled or postponed to reserve hospital beds and patient care staff for COVID-19 patient care. Developing and implementing contingency plans is highly crucial for business operations and key imported raw materials.
On the brighter side, there has been a decline in COVID-19 patients worldwide, which will result in increased GDPR services. Moreover, the restrictions and measures are likely to relax, which will help the market to witness a slight increment as the manufacturers focus on various developments and innovations, market trends, and other expansion strategies. Thus, the global GDPR services market will grow at an accelerated pace post-COVID-19.
For more detailed information about the GDPR services market report, click here – https://www.databridgemarketresearch.com/reports/global-gdpr-services-market
