by The global GDPR Services Market is estimated to be valued at US$ 1452.87 Mn or Million in 2023 and is expected to exhibit a CAGR of 22. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
GDPR services help organizations comply with the General Data Protection Regulation (GDPR) which aims to protect and empower all EU citizens’ data privacy and reshape the way organizations across the region approach data privacy. GDPR services provide data mapping, auditing, risk assessment and monitoring to ensure privacy controls are implemented effectively.
Market key trends:
The increasing investment by organizations in data privacy operations and growing emphasis on customer trust are fueling the growth of the GDPR services market. Many companies are outsourcing their data privacy functions to GDPR specialized service providers to ensure round-the-clock monitoring and risk mitigation. Furthermore, constant changes and updates in the data privacy regulations across regions are prompting enterprises to rely more on expert GDPR service partners for compliance. The evolution of advanced technologies like AI and cloud is also raising new data handling challenges requiring specialized GDPR skilled resources and services.
Market key trends:
The GDPR services market is witnessing increasing adoption of cloud-based solutions and platforms. Cloud-based GDPR solutions offer advantages such as scalability, cost-efficiency and on-demand data privacy & security. They enable organizations to implement GDPR compliance regulations easily without investing heavily in IT infrastructure. The adoption of cloud-based GDPR solutions is expected to grow significantly during the forecast period.
SWOT Analysis
Strength: Scalable and cost-effective cloud-based GDPR solutions offer a competitive advantage to organizations.
Weakness: Dearth of skilled professionals with expertise in GDPR regulations.
Opportunity: Increased spending on data privacy compliance solutions by organizations post introduction of strict regulations like GDPR.
Threats: Vulnerability of cloud-based solutions to cyber threats like data breaches can undermine GDPR compliance.
Key Takeaways
The Global GDPR Services Market Size is expected to witness high growth, exhibiting CAGR of 22.% over the forecast period, due to increasing regulatory pressures to fully comply with GDPR regulations.
The European region currently dominates the market and is expected to continue its dominance during the forecast period, owing to strict enforcement of GDPR in the region. Countries like Germany, United Kingdom and France capture over 60% of the European GDPR services market share.
Key players operating in the GDPR services market are Infosys Limited, IBM Corporation, Larsen & Toubro Infotech Limited, Veritas Technologies LLC, Tata Consultancy Services Limited, Amazon Web Services Inc., Atos SE, Microsoft Corporation, Accenture PLC, Micro Focus International PLC, DXC Technology Company, Oracle Corporation, Wipro Limited, Â SAP SE, SecureWorks Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
