The Global GDPR Services Market is estimated to reach USD 3.3 Billion by 2025 at a CAGR of 24.6%, observes forencis research (FSR).
The General Data Protection Regulation (GDPR) is a legal framework that sets guideline for the collection and processing of personal information collected from individuals who lives in European Union (EU). Also, it is a regulation that update and unify data privacy laws across the European Union on data protection and privacy in the European Union and the European Economic Area. The GDPR was approved by the EU Parliament on April 14, 2016 and came in effect on May 25, 2018. GDPR is mainly related to organizations and enterprises which deal with the personal information of EU citizens.
GDPR Services Market: Drivers & Challenges
Rising Demand for Cloud Computing and IoT Technology
Rising demand for cloud computing and the Internet of Things in the GDPR market are projected to be more effective and may offer end users with augmented products. Also, cloud computing technology may help in increasing data privacy and services for the data. It continuously helps in monitoring the data breach and data transfer in its new environment.
Hence, rising demand for cloud computing and IoT technology is expected to surge the GDPR services market during the forecast period.
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Advancement in Data Processing Transparency
Data transparency is the central principle in GDPR as it advances the purpose of the individual’s rights and accountability. The law for data processing mandates that each organization will have a Data Protection Office (DPO) along with an audit of any activities which happen regarding data processing.
Therefore, advancement in data processing transparency is expected to drive the GDPR services market during the forecast period.
Non-Compliance Penalties and Regulation Issues
There is a penalty for those companies and organizations that don’t comply with GDPR, fines of up to 4% of annual global revenue or 20 million Euros. British Airways is facing fines of up to €200 million for a data breach in September 2018. Also, Marriott International, Inc. is fined more than £99 million under GDPR services for the data breach.
GDPR Services Market: Key Segments
- Deployment Type Includes: Cloud and On-Premises.
- Component Segment Covers: Solution and Services
- Based on End-Use: Healthcare, BFSI, Education, Retail & E-Commerce, Media & Entertainment, Travel, and Others
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
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GDPR Services Market: Report Scope
The report on the GDPR Services market covers a deep dive analysis of historic, recent and current market trends. furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
List of the leading companies operating in the GDPR Services Market include:
- IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Veritas Technologies, LLC
- com, Inc.
- Microsoft Corporation
- Micro Focus
- Absolute Software Corporation
- Capgemini SE
- Oracle Corporation
- SAP SE
- Other Key Companies
GDPR Services Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
GDPR Services Market, By Deployment Type
GDPR Services Market, By Component
- Data Management
- API Management
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GDPR Services Market, By End-User
- Retail & E-Commerce
- Media & Entertainment
GDPR Services Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key players operating in the global market?
- How are the major players leveraging in the existing market conditions?
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