GDPR Services Market Scope
The General Data Protection Regulation (GDPR) is a legal framework that sets guidelines for the collection and processing of personal information from individuals who live in the European Union (EU). The financial implications resulting from a failure to comply are significant. A fine of 20 Million Euros or 4% of the organization’s global turnover (whichever amounts to more). Thereby, the demand for GDPR services has boom among the various industries such as BFSI, IT & telecom, retail, and healthcare, among others. Moreover, the strict nature of GDPR rule is one of the key driver fueling the growth of the market.
According to AMA, the Global GDPR Services market is expected to see growth rate of 24.89%
The market is fragmented due to the presence of several players within the industry. Some of the players are adopting some organic and inorganic strategies such as a merger, acquisition, partnership, among others in order to gain leading share within the market. Moreover, some of the players are focusing on technological advancements in order to cater the services as per the market necessities. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global GDPR Services market throughout the predicted period.
IBM (United States), Veritas (United States), Amazon Web Services (United States), Oracle Corp (United States), SAP (Germany), SAS Institute (United States), Microsoft (United States), Capgemini (France), Informatica (United States), Iron Mountain (United States), Mimecast (United Kingdom), OneTrust, LLC (United States), Proofpoint, Inc. (United States), Protegrity (United States), DXC Technology (United States), TCS (India), Atos (France) and Accenture (Ireland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Secureworks (United States), Micro Focus (United Kingdom), Absolute Software (Canada), Symantec (United States), Talend (United States), TrustArc (United States), Trustwave Holdings (United States), Varonis (United States) and Comarch SA. (Poland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global GDPR Services market by Type (Solutions {Data Management (Data Discovery and Mapping, Data Governance), API Management} and Services {Consulting services, Professional services, Managed services}) and Region with country level break-up.
On the basis of geography, the market of GDPR Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On 21 May 2019, at PrivacyTech, the largest user conference dedicated to privacy technology, OneTrust launched OneTrust Policy and Notice Management to manage, update and audit multiple privacy policies and notices from a single dashboard. As a part of the OneTrust Privacy User Experience suite, OneTrust Policy and Notice Management help companies comply with the GDPR’s privacy notice obligation and the CCPA’s disclosure requirement.
Market Drivers
- Growth of Enormous Amount of Data, Need for Data Security and Privacy Protection, and Demand for Data Processing Transparency
- Strict Nature of GDPR Rule Fueling the Adoption of Services among the Organizations
- DPR Compliance Adoption Leading to Enhanced Security Service Delivery Along With Improved Reputation of Organizations
Opportunities
- GDPR Can Offer New Revenue Pockets to MSPs in the Coming Years
- Channel Partners are Likely to Witness Revenue Generation Opportunities
Restraints
- Financial Constraints for SMEs Might Hamper the Market Growth
Challenges
- Acquiring the Skills to Manage GDPR Compliance
Key Target Audience
GDPR Services Solution Providers, GDPR Services Service Providers, Government & Regulatory Bodies, End Users and Others