According to the latest report by IMARC Group, titled “GDPR Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global GDPR services market reached a value of US$ 1.61 Billion in 2021. General data protection regulation (GDPR) services assist organizations in protecting the personal data and privacy of European Union (EU) citizens. It includes multiple solutions, such as data recovery and mapping, data governance, and application programming interfaces (API) management. It consists of services, such as GDPR readiness, risk assessment, data protection and impact assessment (DPIA), and data protection officer as-a-service (DPOaaS). These solutions assist in protecting the personal data and privacy of all EU citizens and increase trust and credibility, improve understanding of the collected data, promote easier business process automation, and enhance brand reputation. As a result, they are widely integrated to reduce maintenance costs, mitigate cyber-attacks, and improve data management.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global GDPR Services Market Trends:
The stringent EU policy regarding GDPR compliance of organizations is one of the primary factors driving the market growth. The increasing awareness among EU citizens regarding the protection of their rights and data, such as personal, biometric, genetic, and health, is facilitating the market growth. Furthermore, increasing demand for information security and data processing transparency to improve organizational reputation and security service delivery is acting as another growth-inducing factor. Apart from this, the widespread adoption of GDPR services among individuals working remotely due to the recent COVID-19 outbreak and the implementation of stringent data privacy regulations by governments is providing an impetus to the market growth. Moreover, the rising adoption of cloud services for optimizing industrial digitization and the growing cyber threats across enterprises are positively influencing the market growth. Other factors, including the implementation of strict data privacy policies, rising penetration of the Internet of Things (IoT)-enabled devices, and increasing adoption in the information technology (IT) and telecommunication industries due to the enormous amount of data generation, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market value is expected to reach US$ 5.88 Billion by 2027, exhibiting a CAGR of 23.50% during 2022-2027.
- On the basis of the offering, the market has been divided into data management, data recovery and mapping, data governance, and API management.
- Based on the deployment type, the market has been bifurcated into on-premises and cloud-based.
- On the basis of the organization size, the market has been bifurcated into large, and small and medium-sized enterprises.
- Based on the end user, the market has been classified into BFSI, retail, healthcare, education, manufacturing, government and public sector, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Absolute Software Corporation, Amazon Web Services Inc., Capgemini SE, International Business Machines Corporation, Informatica, Iron Mountain Inc., Micro Focus International PLC, Microsoft Corporation, Oracle Corporation, Proofpoint Inc., SAP SE, Trustwave Holdings Inc. (Singapore Telecommunications Limited) and Veritas Technologies LLC.
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