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Data Bridge Market Research analyses that the GDPR Services Market is expected to reach a value of USD 11,073,962.85 thousand by 2030, at a CAGR of 23.5% during the forecast period. The global GDPR Services market report also comprehensively covers pricing analysis, patent analysis, and technological advancements.
GDPR services are an integral part of compliance in the Global market especially related to the mandate for data compliance regarding data security, privacy, and data management. The increasing demand for data processing transparency, the rising generation of an enormous amount of data, and the increasing requirement for data security and privacy is expected to drive the market’s growth. However, the high implementation cost associated with GDPR compliance services, over regulations for GDPR services, and the complexity involved in GDPR services for the cloud-based ecosystem are expected to act as a restraint for the market.
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Global GDPR Services Market Drivers
- Increasing demand for data processing transparency
There is a continuous generation of data worldwide which leads to an increase in demand for data privacy, protection, and transparency. Data transparency given by the organization to users is very much important to make users feel safe about their data. For instance, in October 2022, the United Nations Human Right Office of the High Commissioner released a report regarding data transparency. In this report, they have urged various administrators to view the guiding principles which are mentioned in their report, as they are a key structural part of every national legal system that regulates the actions of controllers and processors in the processing of personal data.
- Implementation of the GDPR by the EU
In April 2016, the European Union adopted the General Data Protection Regulation (GDPR), which is the data protection law enforcement directive and other rules concerning the protection of personal data. This step taken by the EU has majorly affected the organization’s data policies and governance. Now, organizations cannot share user data with third parties, and if they want to share the users’ data, they need to take permission from users. If they fail to do so, organizations have to pay a heavy fine, damaging operating profit margins. Hence, this regulation is all about data privacy, protection, and management, which is driving the growth of the GDPR services market.
Top Leading Key Players of GDPR Services Market:
- IBM Corporation
- Oracle
- Microsoft
- Micro Focus
- SAP
- Capgemini
- Absolute Software Corporation
- Trustwave Holdings, Inc.
- Dun & Bradstreet, Inc.
- Proofpoint, Inc.
- Veritas
- Informatica Inc.
- SAS Institute Inc.
- Broadcom
- Amazon Web Services, Inc.
- Mimecast Services Limited
- Protegrity Inc.
- OneTrust, LLC.
- Talend
- TrustArc Inc.
Recent Developments
- In January 2023, Microsoft announced that it had extended a partnership with OpenAI to initiate an acceleration of AI breakthroughs to confirm that these benefits are broadly shared with the world. This collaboration helped the company’s financials, and it made a positive impact on the growth of the global GDPR services market
- In December 2022, IBM Corporation acquired Octo, which is a U.S.-based IT modernization and digital transformation services provider. This acquisition helped enhance its finances and made a positive impact on the growth of the global GDPR services market
GDPR Services Market Segmentations:
By Offering
- Solutions
- Services
By Deployment Model
- Cloud
- On-Premises
By Organization Size
- Small Scale Organizations
- Medium Scale Organizations
- Large Scale Organizations
By End-Use
- BFSI
- Government
- Retail & E-Commerce
- Healthcare
- Education
- Manufacturing
- Others
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