Privacy Management Software Market: Development Trends and Worldwide Growth 2020-2023
Market Highlights
Among the applications such as risk management, reporting and analytics, the compliance management segment is expected to grow at the highest CAGR during the forecast period. Compliance management enables the enterprises to cope with the varying regulatory environment easily and reduce the risk of non-compliance.
Key Players
The key players in the privacy management software market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are— Nymity Inc. (US), OneTrust, LLC (UK), TrustArc Inc (US), SIMBUS, LLC. (US), BigID, Inc. (US), International Business Machines Corporation (US), Protiviti Inc. (US), Proteus-Cyber Ltd. (UK), 2B Advice LLC (US), TokenEx (US), SureCloud (UK), AURA DIFUSION S.L.(US), AvePoint, Inc. (US), LogicGate, Inc. (US), MetricStream Inc. (US), PossibleNOW, Inc.(US), RSA Security LLC.(US), and Bwise (US).
Segmentation
The global Privacy Management Software Market is segmented into application, deployment mode, organization size, vertical and region/country.
By application, the global privacy management software is segmented into compliance management, risk management, reporting and analytics, and others.
By deployment mode, the global privacy management software is segmented into on-premises and cloud.
By organization size, the global privacy management software is segmented into small and medium-sized enterprises (SMEs) and large enterprises.
By vertical, the global privacy management software is segmented into telecommunication and IT; food, beverages and consumer goods; healthcare and pharmaceutical, government and defense; banking, financial services and insurance (BFSI); and others.
By region, the global privacy management software market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
Regional Analysis
The global privacy management software market is expected to grow at a significant CAGR during the forecast period. The geographical analysis of privacy management software market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
North America holds the largest market share and is expected to continue this dominance during the forecast period. North America has one of the most highly developed IT sectors in countries like the US and Canada, has greater adoption of privacy management software. Further to this, Europe closely following North America in terms of revenue generation considering Europe to be an advanced region in terms of technology and its adoption. EU GDPR and other ePrivacy regulations such as Payment Card Industry (PCI), the Healthcare Information Trust Alliance (HITRUST), Telecommunications Service Companies Privacy Regulation (Germany), Information Commissioners Office (UK), and Privacy and Electronic Communications Regulations (UK), have been issued recently to supplement existing laws and regulations regarding data privacy.
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Intended Audience
- Government Agencies
- Privacy Management Software Service/Solution Providers
- Financial Advisory/Consulting Firms
- System Integrators
- Research Institutes and Organizations
- Technology Standards Organizations
- Venture capitalist/angel investors
- Information security directors/managers
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