GDPR Services Market Size 2021 Explosive Factors, Competitive Panorama, Share, Progression Status, Emerging Trends, Recent Development, Business Challenges and Forecast to 2023

New York, United States, Fri, 08 Jan 2021 07:23:26 / Comserve Inc. / -- By component, the market is segmented into solutions and services. The solutions covered in the study are data discovery and mapping, data governance, and API management.

Kenneth Research has recently added a market research study on GDPR Services Market 2024 which provides a complete comprehensive analysis including the data by Segmentations, by Geography and as well as the competitive landscape of the top 10 Vendors in this market In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of GDPR Services Market over the period 2019-2026

Market Synopsis

Globally, the General Data Protection Regulation (GDPR) services market is expected to grow from USD 987.4 million in 2018 to USD 3,177.6 million by 2023, at a CAGR of 26.3% during the forecast period, 2018–2023. Global need to meet the GDPR compliance requirements, increasing digitalization creating large volume of customer data, and need to protect brand reputation are some of the major driving factors for the wide adoption of GDPR services globally. However, lack of expertise and awareness among many organizations, particularly Small and Medium-sized Enterprises (SMEs) in developing economies, act as a major restraining factor for the growth of the GDPR services market in the upcoming years.

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GDPR services are outsourced services that include a well-defined framework for compliance assessment and policy implementation within an organization. These services cover all the aspects of an organization- people, processes, and technology. It provides the right guidance to enterprises on how to store and process the EU citizen's personal data, irrespective of the location where the data are stored and processed.

GDPR services has a wide adoption in almost all industry verticals, such as Banking, Financial Services, and Insurance (BFSI), government and defense, education, retail and eCommerce, healthcare, media and entertainment. BFSI, healthcare, and retail and eCommerce are some of major industry verticals adopting the GDPR services to operate their business processes according to the GDPR guidelines.

Segmentation.

The Global GDPR services market is segmented based on component, organization size, industry vertical, and region/country.By component, the market is segmented into solutions and services. The solutions covered in the study are data discovery and mapping, data governance, and API management. The services segment is further segmented into GDPR readiness assessment, risk assessment and data protection impact assessment (DPIA), data protection officer (DPO) as a Service, and managed services.

By organization size, the market is segmented into large enterprises and SMEs.By industry vertical, the market is segmented into BFSI, government and public administration, education, retail and eCommerce, heatlhcare, media and entertainment, travel and hospitality, and others.By region, the market is segmented into Europe, North America, Asia-Pacific (APAC) and the rest of the world.

Regional Analysis

The Global market for GDPR services market is estimated to grow rapidly during the forecast period from 2018 to 2023. The geographical analysis of global GDPR services market is studied for North America, Europe, Asia-Pacific, and rest of the world.

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Europe is expected to dominate the GDPR services market during the forecast period. The region has introduced the new GDPR and many enterprises in the region are quickly adopting the GDPR services to protect their brand reputation and comply with the GDPR guidelines. Enterprises in other regions, such as North America and APAC are also adopting the GDPR services to smoothly operate their business operations serve their customers in the European region. Asia-Pacific is expected to grow at the fastest rate during the forecast period. Presence of many enterprises in APAC, serving a large clientele base in Europe is one of the major driving factor for the fast growth of GDPR services market in the APAC region. China, Japan, and India are expected to be the leading countries in APAC in terms of market share and this trend is expected to continue in the upcoming years.

Competitive Analysis

As the GDPR services market is growing, it is attracting more specialized service providers and large security solution/service providers are expected to acquire small companies to bundle their offerings more effectively. Furthermore, the vendors are increasingly focus on enhancing their service capabilities to lead in the market and offering their services at low prices to quickly gain a strong foothold on the market.

Key players

The prominent players in GDPR services market are IBM (US), Micro Focus (UK), AWS (US), Veritas (US), Microsoft (US), Capgemini (France), Absolute Software (Canada), Informatica (US), Mimecast (UK), Iron Mountain (US), Oracle (US), Proofpoint (US), and Trustwave (US).

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Intended Audience

GDPR service providers

Cybersecurity solution vendors

IT Security System Integrators

Managed Service Providers

Associations, Forums, and Alliances

Government Organizations

Enterprises

IT Administrators

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