The global GDPR Services Market Size is expected to reach USD 1,178.2 million by 2025, registering a CAGR of 23.4% during the forecast period, 2019–2025. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the coming years.
The growth of enormous amounts of data, the need for data security, privacy protection, and heavy fines implemented by the EU is driving the demand for GDPR services across the globe. Data is growing at an enormous rate globally. The process of digitization has profoundly changed the business operations impacting enterprises across various industries including manufacturing, retail, BFSI, and telecommunications. The businesses in various industries around the world are using data to become more agile, improve customer experience, introduce new business models, and enhance their competitive advantage. The consequence of this increasing reliance on data is leading to an expansion in the size of the global data. With this increase in data, there is an increasing responsibility for the enterprises to effectively protect and secure the same. The data collected by enterprises are of various types, including the personal data of the customers. These personal data include identifiable information such as contact numbers.
According to MRFR analysis, IBM Corporation, Amazon Web Services, Hitachi System Security, Microsoft Corporation, and Capgemini were some of the key players of the global GDPR services market as of 2018. The growth of the market vendors is dependent on the advancements in technology, market conditions, government support, regulatory compliance, and industry development. Thus, the vendors should focus on expanding their geographical presence and improving the quality of their services.
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The global GDPR Services Market Size has been segmented based on type, organization size, vertical, and region.
By type, the market has been segmented into solution and service. Solutions are further segmented into data management and API management. Services are further segmented into GDPR readiness assessment and DPIA, DPO-as-a-Service, and others. The solution segment accounted for the larger market share of 64.2% in 2018. Among the solutions, the data management segment accounted for the larger market share. Data management solutions help in gathering, organizing, and analyzing large sets of data. These solutions make processing and validation of data much simpler and time efficient. In the scope of the study, two types of solutions have been considered as a part of data management solutions including data discovery and mapping and data governance.
By organization size, the market is segmented into small and medium enterprises and large enterprises. The large enterprise segment accounted for the larger market share in 2018. The SME segment is projected to register the higher CAGR of 24.5%.
By vertical, the GDPR Services Market Size has been classified into manufacturing, retail, utilities, IT & telecommunications, BFSI, government services, automotive, travel & hospitality, media & entertainment, education, and others. The manufacturing segment accounted for the largest market share; it is expected to register a CAGR of 24.8% during the forecast period.
The key players of the global GDPR services market are IBM Corporation (US), Oracle Corporation (US), Microsoft Corporation (US), Amazon.com, Inc. (US), Capgemini (France), Informatica (US), Hitachi Systems Security, Inc. (Japan), Veritas (US), Micro Focus (UK), Absolute Software Corporation (UK), Mimecast Services Limited (UK), Iron Mountain Incorporated (US), Proofpoint (US), and Trustwave Holdings, Inc. (US).
The regional analysis for the global GDPR services has been conducted for North America, Europe, the Asia-Pacific, and the rest of the world (the Middle East & Africa, and South America).
The market in Europe accounted for the largest market share in 2018, and it is expected to register rapid growth during the forecast period. In Europe, the UK accounted for the largest market share in 2018. Germany was the second-largest market in 2018, it is projected to register a CAGR of 24.3% during the forecast period.
Asia-Pacific is one of the fastest-growing markets for GDPR services. The growing industrial development in the region, especially in countries like China and India is leading to global operations and is pushing the market forward.
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Global GDPR Services Market Size Research Report: By Type (Solution, Service), By Organization Size (Small and Medium Enterprises, Large Enterprises), By Vertical (Manufacturing, Retail, Utilities, IT & Telecom, BFSI, Govt Services, Automotive, Travel & Hospitality, Media & Entertainment, Education and Others) and By Region (North America, Europe, Asia-Pacific and the Rest of the World [the Middle East & Africa and South America]) – Forecast till 2027
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